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The Treasury Department announced it would lift sanctions against Tornado Cash, a decentralized crypto enterprise that the Biden administration once described as a “notorious” vector for money laundering.

State regulators push back on Treasury payments plan

First in The Vault: An association representing state financial regulators isn’t happy with the Biden administration’s push to overhaul and expand payments regulation at the federal level.

Treasury Department Under Secretary for Domestic Finance Nellie Liang gave a speech yesterday at the Chicago Federal Reserve calling for significant changes to the American payments system.

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