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Biden Sanctions Russia, Restricts Buying New Debt After Hacking

President Joe Biden ordered fresh sanctions on Russia, including restrictions on buying new sovereign debt, in response to allegations that… Read More

City of London calls for ‘paradigm shift’ in compliance tech at banks

Britain’s financial firms and regulators should step up the use of technology to cut the cost of compliance and make the City of London more globally competitive, a report said on Friday. The report from the corporation that runs London’s “Square Mile” financial district called for the removal of barriers… Read More

IRS is probing the dark web to look for cryptocurrency and NFT tax evasion, says commissioner

Tax evasion using cryptocurrencies is “replicating” with nonfungible tokens and other new crypto-related products, according to IRS Commissioner Charles Rettig. In testimony before the Senate Finance Committee, Rettig said Tuesday the U.S. fails to collect as much as $1 trillion in taxes owed each year in part due to… Read More