Washington – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Venezuelan judge Lorena Carolina Cornielles Ruiz and Venezuelan prosecutor Ramon Antonio Torres Espinoza, the Venezuelan government officials who presided over and prosecuted the November 2020 trial and sentencing of six U.S. persons in Venezuela. The six U.S. persons, known […]
Monthly Archives: December 2020
Treasury and IRS Begin Delivering the Second Round of Economic Impact Payments to Millions of Americans
WASHINGTON – Today, the Treasury Department and the Internal Revenue Service will begin delivering a second round of Economic Impact Payments to millions of Americans as part of the implementation of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021. The initial direct deposit payments may begin arriving as early as tonight for some […]
Acting Comptroller of the Currency Praises President’s Working Group Statement on Cryptocurrency
News Release 2020-177 | December 23, 2020 Share This Page: WASHINGTON—Acting Comptroller of the Currency Brian P. Brooks today issued the following praise for the President’s Working Group statement on stablecoins. Today’s statement by the President’s Working Group on stablecoins clarifies expectations for the retail payment application of stablecoins, helping to pave the way for greater […]
President’s Working Group on Financial Markets Releases Statement on Key Regulatory and Supervisory Issues Relevant to Certain Stablecoins
WASHINGTON – The President’s Working Group on Financial Markets (PWG) today released a statement providing an initial assessment of key regulatory and supervisory considerations for participants in significant stablecoin arrangements with a U.S. nexus that are primarily used for retail payments. PWG Members welcome dialogue as U.S. authorities continue to assess the evolving technological and […]
Treasury Sanctions Additional Belarusian Regime Actors for Undermining Democracy
Washington – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated one individual and four entities for their roles in the fraudulent August 9, 2020, presidential election in Belarus and the subsequent violent crackdown on peaceful pro-democracy protests. These designations, pursuant to Executive Order (E.O.) 13405, target individuals and entities […]
President’s Working Group on Financial Markets Releases Report on Money Market Funds
WASHINGTON – In March 2020, short-term funding markets came under sharp stress amid growing economic concerns related to the COVID-19 pandemic and an overall flight to liquidity and quality among investors. Today the President’s Working Group on Financial Markets (PWG) released a report that examines these events and sets forth potential policy measures to improve […]
Statement by Secretary Steven T. Mnuchin on Passage of the Coronavirus Response and Relief Supplemental Appropriations Act
WASHINGTON – Secretary Steven T. Mnuchin issued the following statement on passage of the Coronavirus Response and Relief Supplemental Appropriations Act as part of the Consolidated Appropriations Act of 2021: “I am pleased that the United States Senate and House of Representatives have passed on an overwhelmingly bipartisan basis the Coronavirus Response and Relief Supplemental […]
Treasury Targets Syrian Regime Officials and the Central Bank of Syria
Washington – Today, in support of the U.S. government’s efforts to promote accountability and reach a political resolution to the Syrian conflict, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned a high-ranking official in the Syrian government; her husband, a member of the Syrian People’s Assembly; and their business entities. […]
Peloton Signs Agreement To Acquire Precor
NEW YORK, Dec. 21, 2020 /PRNewswire/ — Peloton (NASDAQ: PTON), the leading interactive fitness platform, today announced that it has entered into an agreement to acquire Precor, one of the largest global commercial fitness equipment providers with a significant U.S. manufacturing presence, in a transaction valued at $420 million USD. With the acquisition, Peloton plans to establish […]
Treasury Identifies Cuban State-Owned Businesses for Sanctions Evasion
Washington – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) identified three entities controlled by the Cuban military with strategic roles in the Cuban economy. Two of the entities, Financiera Cimex S.A. and Kave Coffee, S.A., are subsidiaries of the third entity, the large Cuban government enterprise Grupo de Administración […]