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US Treasury Secretary Scott Bescent is now acting head of the Consumer Financial Protection Bureau, according to people familiar with the matter, signalling a possible shift in the Trump administration's strict approach to enforcement and regulation under Rohit Chopra, who was ousted by the Trump administration. The Biden-era appointee has imposed billions of dollars in fines and consumer compensation on banks including Wells Fargo, Goldman Sachs and Citigroup during his tenure. Mr. Bescent, a f...
In an interview with FOX Business, US Treasury Secretary Scott Bessent said: The spirit of cryptocurrency is about freedom, and the cryptocurrency economy is here to stay.
In an open letter dated January 12, Warren asked former Treasury Secretary Scott Bessent whether the Treasury Department should have more authority to sanction the cryptocurrency industry. "Should AML/CFT and sanctions programs include reasonably designed risk-based provisions to prevent money laundering or terrorist financing involving digital assets," wrote Warren, who is about to become the top Democrat on the Senate Banking, Housing and Urban Affairs Committee.
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