The Kleptocracy Asset Recovery Rewards Act ("KARRA") authorizes a U.S. Treasury Department ("Treasury") pilot program aimed at rewarding whistleblowers who provide information leading.
Gensler expected to put teeth in Reg BI not overturn it
A former chairman of the Commodities Futures Trading Commission, former Treasury Department official and former Goldman Sachs executive, Gensler has developed a reputation as a tough regulator who also was a successful leader on Wall Street.
January 19, 2021 3 MINS
Investor advocates and other experts expect Gary Gensler to strengthen the broker investment advice standard his predecessor put in place rather than redo it when he takes over the Securities and Exchange Commission.
President-elect Joe Biden said on Monday he will nominate Gensler to be the next SEC chairman. If he’s confirmed by the Senate, Gensler will give the five-person panel a 3-2 Democratic majority.
Updated Jan 19, 2021 at 4:51 p.m. UTC
Money Reimagined: Bitcoin’s Warning for Central Banks
Another week, another lifetime lived:
The U.S. President impeached,
again. Worldwide COVID-19 deaths close in on 2 million. Bitcoin surges to a record high above $42,000, promptly plunges to almost below $30,000 and then begins a late-week rally above $36,000.
Meanwhile, the crypto community has been grappling with some contentious regulatory proposals that would strengthen U.S. monitoring of global digital currency transactions.
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That’s the topic of this week’s “Money Reimagined” podcast episode. We talk to Christopher Giancarlo, the former chairman of the Commodities Futures Trading Commission, and Marvin Ammori, a famed digital civil rights lawyer who’s now chief legal counsel at Uniswap, about how the crypto industry and
Host
On this episode of “Money Reimagined” the discussion comes home for an insider’s look at how new, disruptive technology and government interact. For this discussion, hosts Michael Casey and Sheila Warren of the World Economic Forum are joined by Marvin Ammori, best known for his work on network neutrality and Internet freedom issues. Rounding out the panel is Christopher Giancarlo, former Commodity Futures Trading Commission chairman and founding principal of the Digital Dollar Foundation.
“My background is really 20 years of working on the internet,” said Marvin Ammori. “And I remember in the early days of the internet, you know, one kind of piece of deja vu is what jumped out to everyone. The internet began with all the bad stuff. Congress couldn’t believe there was porn on the internet. We had to protect the children from the number one thing that people noticed on the internet.
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On January 1, 2021, the United States Congress overrode the president’s veto to enact the 2021 National Defense Authorization Act (the NDAA), which, aside from allocating the annual defense budget, includes the Anti-Money Laundering Act of 2020 (AMLA), the Corporate Transparency Act (CTA), the Combatting Russian Money Laundering Act (CRMLA) and the Kleptocracy Asset Recovery Rewards Act (KARRA). These statutes contain sweeping provisions intended to modernize the anti-money laundering (AML) and counterterrorist financing (CTF) laws in the U.S. to address new and emerging threats; improve coordination and information sharing among regulators, law enforcement and financial institutions; and encourage technological innovation to more effectively counter money laundering and terrorism financing.