Reports have suggested that on April 2, 2025, President Donald Trump will likely announce reciprocal tariffs pursuant to the International Emergency Economic Powers Act (IEEPA) (50 U.S.C. 1701 et seq.) and investigations...more
We previously reported that Treasury Secretary Bessent was named as the acting director of the Consumer Financial Protection Bureau (CFPB), and he subsequently ordered the CFPB staff to halt several activities. However, the...more
In this update, we focus on the potential changes in the executive branch and on the congressional committees that have jurisdiction over cryptocurrency. As the transition unfolds, much attention is on who will stay from the...more
On November 12, 2020, President Donald Trump signed an executive order prohibiting “United States persons” from engaging in “transactions” in securities of “Chinese Communist military companies.” The order marks another...more
The US Secretary of the Treasury announced sanctions this summer on 11 individuals who the Secretary views as being involved in implementing the recently enacted Law of the People’s Republic of China on Safeguarding National...more
In Washington: Hopes for a quick resolution to the stimulus talks continue to fade though House Speaker Nancy Pelosi (D-CA) and Treasury Secretary Steven Mnuchin continue talking this week to try and bridge the gap between...more
In Washington: On a conference call Saturday, Senate Republicans relayed their objections to another enormous coronavirus relief package to party leaders and top Trump officials. Members cited that Republican voters have...more
President Trump issued an Executive Order on September 21, 2020 which, effective immediately, imposes secondary sanctions on the transfer and sale of certain conventional arms shipments and the supply of related services to...more
In Washington - The House of Representatives returns from recess this week to join the Senate colleagues for the final work period before they adjourn in mid-October for the November elections. The likelihood of a deal on...more
On August 8, 2020, the President issued a Presidential Memorandum directing the Secretary of the Treasury to use his authority to defer withholding, deposit, and payment of certain payroll tax obligations (the “Executive...more
President Trump issued an executive order on August 8, 2020, providing for the deferral of the employee's portion of Social Security taxes for certain employees for the period beginning September 1, 2020, through December...more
On April 9, 2020, following issuance by the President of the United States of an emergency declaration under the Robert T. Stafford Disaster Relief and Emergency Assistance Act on March 13, 2020, the Secretary of the U.S....more
• President Donald Trump has issued an Executive Order expanding the current sanctions relating to Venezuela by blocking all property and interests in property of the government of Venezuela and the Nicolás Maduro regime. ...more
On August 5, 2019, the US Department of the Treasury ("Treasury") announced that Treasury Secretary Steven Mnuchin, "under the auspices of President Trump," has determined that China is a "currency manipulator" pursuant to...more
New York Attorney General Barbara Underwood and New York Governor Andrew Cuomo announced today that the state of New York, joined by the states of Connecticut, New Jersey and Maryland, have instituted a lawsuit against the...more
President Trump signed the Economic Growth, Regulatory Relief, and Consumer Protection Act into law on May 24, 2018. Section 211 of the law requires the Secretary of the Treasury, Board of Governors of the Federal Reserve...more
Congress enacted the “Countering America’s Adversaries Through Sanctions Act” (CAATSA) on August 2, 2017 in response to Russia’s continuing occupation of the Crimea region of Ukraine and cyber-interference in the 2018 United...more
• The U.S. Department of State issued public guidance on sanctions with respect to 39 named entities related to Russia's defense and intelligence sectors. This guidance is issued under Section 231 of the Countering America's...more
• On October 27, 2017, the U.S. State Department issued guidance identifying 39 entities related to the defense and intelligence sectors of the Government of the Russian Federation and issued related guidance on criteria to...more
On September 21, 2017, the White House announced additional sanctions against North Korea, following a new round of sanctions imposed by the United Nations on September 11 and an escalation of U.S. sanctions previously...more
On June 7, U.S. Treasury Secretary Steven Mnuchin said publicly that Congress should pass legislation to amend the authorizing statute for the Committee on Foreign Investment in the United States (CFIUS), a U.S. Government...more
Based on the President’s executive order 13772 on The Core Principles for Regulating the United States Financial System, the American Bankers Association (ABA) submitted a white paper to Treasury Secretary Mnuchin that...more
Steven T. Mnuchin was sworn in to serve as the 77th Secretary of the US Treasury...more
Last week, the Trump Administration took initial action toward Dodd-Frank reform. President Trump signed two Presidential actions—one Executive Order regarding the Dodd-Frank Act more broadly, and one Presidential Memorandum...more