Treasury Secretary Scott Bessent is getting banks ready to gather citizenship information.
U.S. Banks May Face New Customer Data Requirements U.S. banks might not be thrilled about the prospect of gathering nationality information from their customers, but Treasury Secretary Scott Bessent is suggesting they prepare for it. Bessent remarked, “If the Treasury and banking regulators say that’s their job, then that’s their job,” during a discussion with […]
Lawmakers call on the IRS and Treasury to investigate nonprofits connected to the CCP
House Members Call for Investigation into Nonprofits Linked to China Top officials in the House of Representatives are urging the Treasury Department and the Internal Revenue Service to look into U.S. nonprofit organizations that have been reportedly used by the Chinese Communist Party (CCP) to influence elections and political matters in the United States. These […]
Treasury to Develop Guidance for Churches Following Court Ruling Invalidating IRS Agreement on Political Candidate Endorsement
Judge Dismisses IRS Agreement on Political Endorsements by Churches A federal judge recently overturned an agreement that allowed churches to support political candidates without risking their tax-exempt status. This decision has implications related to the Johnson Amendment, which prohibits such endorsements. The U.S. Treasury Department and the IRS are now looking into providing more guidance […]
Bitcoin treasury sales speed up as Riot, Bhutan, and public companies withdraw their holdings.
Bitcoin Selling Trend Raises Concerns People are closely watching Bitcoin as its price stands around $66,210.25. There’s a noticeable trend where companies that previously seemed committed to holding Bitcoin are now starting to sell, which isn’t exactly a promising sign for the market. Many publicly traded firms are offloading their Bitcoin as prolonged price declines […]
US Treasury Approves President Trump’s Proposal to Eliminate All Paper Currency in Favor of Cryptocurrency and Gold Coins
The era of pulling out a wrinkled $20 bill might soon be a thing of the past. The US Treasury has officially approved a comprehensive financial reform that will transition all paper currency to a mix of government-backed cryptocurrencies and gold coins by 2027. The initiative proposes the elimination of physical banknotes, introducing two new […]
Dutch Finance Ministry shuts down treasury banking portal following security breach.
Cyberattack Investigation at Dutch Ministry of Finance The Dutch Ministry of Finance has taken several systems offline, including the Treasury Banking Digital Portal, as a precaution while they investigate a cyberattack identified two weeks ago. In their announcement last week, the ministry confirmed that the security breach that occurred on March 19 did not impact […]
Treasury Might Offer Healthcare Fraud Whistleblowers Up to 30% in Rewards
Treasury Secretary Scott Bessent stated that the Trump administration has received over 700 tips through the Treasury Department’s reporting platform as the agency announced new initiatives aimed at uncovering fraud related to Medicare, Medicaid, and other government health programs. Bessent mentioned that efforts to combat fraud are expanding quickly, making an analogy to airport security: […]
Treasury Secretary visits Long Island to promote small business
Treasury Secretary Scott Bessent made a visit to Nassau County on Monday evening, where he engaged with local small business owners who shared their experiences navigating the current economic landscape under President Trump. “Wall Street has its achievements, and now it’s time for Main Street to thrive,” Bessent remarked to a gathering that included real […]
Michael Saylor’s Approach Leads in DAT Bitcoin Purchases as Treasury Demand Drops
Corporate Bitcoin Purchases Shift Dynamics A recent report from CryptoQuant highlights a significant trend in Bitcoin purchasing among corporate entities, specifically pointing to one company that has become the focal point of this activity. What began as an effort to broaden the institutional adoption of Bitcoin appears to have evolved into a notable concentration risk. […]
Education Department Moves Forward with Plans to Close in Collaboration with Treasury
Department for Education Transfers Student Lending to Treasury The Department for Education (ED) has made a notable decision to transfer student lending responsibilities to the Treasury, marking a significant shift in its operations. This action aligns with an executive order from President Donald Trump aimed at dissolving the department. Established 45 years ago under President […]