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U.S. Treasury should tackle dirty money
March 29th, 2023
The FTC joins 36 global civil society organizations calling on U.S. Treasury Secretary Janet Yellen to advance specific, meaningful financial transparency reforms coinciding with the second Summit for Democracy on March 29-30.
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Crypto-currency: Can cyber havens be regulated?
July 15th, 2014
9714198380_cdfeff38d6_zBitcoin can be sent from anywhere to anywhere at a very low cost, while simultaneously keeping a user’s identity hidden. This all sounds convenient for online payments, but without proper regulations, the use of crypto-currency could easily lead to tax evasion. Bitcoin was launched in 2009, as the world’s first crypto-currency. Satoshi Nakamoto, a pseudonym for the unknown person or group of people responsible, created the revolutionary currency. One key feature of Bitcoin is its decentralized nature, which doesn’t require regulators or bankers, resulting in low transaction costs. However, this also poses severe...
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The EU needs better anti-money laundering rules
July 1st, 2014
5857336815_700ab642ae_zSince February of last year, the European Union has made money laundering and terrorist financing a central focus. In reviewing and updating the third Anti-Money Laundering Directive (AMLD), the European Union has tried to target the process by which criminal proceeds and illicit funds are moved throughout the continent and beyond. We’ve been following their progress closely, and have advocated for sensible reform to allow the EU to set the standard on anti-money laundering. But to be the standard-bearer on financial transparency, EU decision-makers must regulate the anonymous legal entities that...
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