Treasury Department

Russia's international ambitions for its homegrown alternative to Visa and Mastercard have been dashed as even some of its closest allies have dropped its Mir payment system following a threat by the U.S. to sanction anyone who helps or supports its use.

U.S. financial regulators proposed several steps to improve the functioning of the Treasuries market after it broke down early in the pandemic.

Treasury Secretary Janet Yellen said that while the U.S. financial system remains resilient, the current backdrop has created the conditions where risks to its stability could appear.

The U.S. Treasury Department faces a second lawsuit over its August decision to sanction Tornado Cash, a crypto-mixing service that obscures sources of coin transactions. 

The latest bout of global financial volatility has heightened concerns about regulators' continuing failure to resolve liquidity problems with U.S. Treasuries — the debt that serves as a benchmark for the world.

Janet Yellen, eager to see through crucial projects, has told White House officials she's prepared to remain Treasury secretary well after the midterm elections, according to people familiar with the discussions.

Isbank, Turkey's largest bank by assets, stopped using a payment system popular among Russian tourists, following a warning by the U.S.

As Treasury cracks down on DeFi, observers say merging the worlds of traditional and decentralized finance is an increasingly impossible dream.

Rep. Tom Emmer, R-Minn., said the issues raised by the sanctions affect the "right to privacy of every American citizen."

With global tensions rising over Ukraine, the cutthroat competitiveness of the U.S. financial sector is yielding to partnership over the conviction that a cyberattack against even a group of minor banks — or a third-party service provider — could imperil everyone in a highly connected system.

The agency recently updated a policy document to include technological innovation as a top priority and said it was considering creating a safe harbor for those who develop new products to fight financial crimes.

The Treasury’s latest tax collection may preview how the shrinking of the Federal Reserve’s $9 trillion balance sheet, or quantitative tightening, will unfold for the markets and global liquidity.

Interest in digital assets is on the rise following an executive order from the White House and a recent report from the Fed.

A Biden administration cryptocurrency executive order strikes the right balance between encouraging responsible innovation and addressing potential risks to consumers and the broader financial system, Treasury Secretary Janet Yellen said in a statement posted to the Treasury Department’s website Tuesday night.

Coinbase Global, Gemini Trust and Robinhood Markets are among firms helping to build a platform to comply with a U.S. money laundering rule as crypto and financial technology companies seek to satisfy existing requirements and head off stricter oversight.

“Ancillary parties who cannot get access to information that is useful to the IRS are not intended to be captured by the reporting requirements for brokers,” Treasury Department Assistant Secretary for Legislative Affairs Jonathan Davidson told lawmakers.

The U.S. Treasury Department defeated a blue-state challenge to a rule that exempts buyers of high-interest loans from state interest rate caps.

The U.S. Treasury Department is looking more closely at potential money laundering and the financing of terrorism through trading high-value art.

Treasury officials have identified what they believe are the most urgent risks posed by Tether and other stablecoins as they ready recommendations for stricter oversight of cryptocurrencies.

Nearly eight months of the Biden administration have gone by without a word from the White House on a nominee to lead the Office of the Comptroller of the Currency. Here are some of the candidates who have been in (and in some cases fallen out of) the running.