U.S. Treasury Under Secretary for Domestic Finance Nellie Liang testified before the House Financial Services Committee on February 8, 2022 and urged lawmakers to pass legislation to oversee stablecoin issuers.

On February 4, 2022, the U.S. Treasury released a report on money laundering in the art market stating that NFT platforms may be considered virtual asset service providers by the Financial Action Task Force and may come under FinCEN’s regulations.

In recent remarks, SEC Commissioner Hester Peirce forecasted that the SEC will regulate cryptocurrency through enforcement in 2022 rather than creating new rules or adjusting existing rules to accommodate digital assets.

The paper “summarizes the current state of the domestic payments system..." and solicits comments from the public.

On January 10, 2022, the U.S. Government Accountability Office (“GAO”) released a report to the public summarizing its findings on the use of virtual currencies to facilitate human and drug trafficking.  These findings were based on a review of federal agency records and interviews with federal officials from a number of agencies.

American Banker published its annual banking predictions based on survey results from 175 leaders and staff at banks and fintechs, including C-suite and senior business unit executives.  Regarding cryptocurrency, nearly 40% of survey participants reported that they will be “likely/somewhat likely” to offer cryptocurrency services next year.