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Michael Barr, a law professor and former advisory board member of Ripple Labs who is United States President Joe Biden’s pick for vice chair for supervision at the Federal Reserve, called for U.S. lawmakers to regulate stablecoins in an effort to address “financial stability risks.”

Andrea Salinas has won the Democratic primary election for the newly created Oregon 6th District seat in the United States House of Representatives. Practically since it started, the election race was the object of intensive media attention, which most often centered around Salinas’ opponent Carrick Flynn, whose campaign was generously funded by the Protect Our Future political action committee (PAC) backed by billionaire FTX CEO Sam Bankman-Fried. The PAC paid for a flood of advertising supporting Flynn. 

Retirement plans still largely remain at the periphery of both crypto adoption and the regulatory discussion. But last week, a major development emerged in this department. United States Senators Elizabeth Warren of Massachusetts and Tina Smith of Minnesota became concerned about Fidelity’s recent announcement of adding Bitcoin (BTC) to its clients’ 401(k) retirement investment menu. In a letter to the company’s CEO Abigail Johnson, the lawmakers expressed their uneasiness over a “conflict of interests” and the “significant risks of fraud, theft and loss,” requesting from Fidelity a detailed outline of risk mitigation actions. 

Senator Elizabeth Warren voiced concerns about Fidelity Investments' plan to include bitcoin in customers' 401(k) accounts, calling it "a risky and speculative gamble."

Republican Senator Tommy Tuberville from Alabama has unveiled a new bill he calls the Financial Freedom Act to allow Americans to add cryptocurrency to their 401(k) retirement savings plan unencumbered by regulatory guidance.

The United States government is growing increasingly concerned about Bitcoin (BTC) in retirement savings, with two Senators flagging some issues in Fidelity Investments’ plans to include Bitcoin (BTC) in 401(k) accounts.

In a July 2021 interview, Massachusetts Senator Elizabeth Warren likened crypto regulation to the drug regulation initiatives of a century ago, which she claimed put an end to the sale of “snake oil” and laid the basis for the creation of the modern drug industry. This reflected her earlier statements about the digital currency market resembling the “Wild West,” which makes it a poor investment as well as an “environmental disaster.” With her latest bill in the Senate pipeline targeting Russian actors’ potential use of crypto to circumvent United States sanctions, it is fair to ask: Is the military conflict in Ukraine merely an excuse for Warren to act on her long-standing distaste for digital assets?

US Democrats introduce bill to curb Russian crypto use amid Ukraine crisis

Representative Brad Sherman will be introducing a bill in the House aimed at cracking down on U.S. businesses handling crypto transactions for Russian banks and individuals.

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

WASHINGTON—A Senate panel on Wednesday advanced Jerome Powell’s nomination for a second term leading the Federal Reserve, along with three others for top posts at the central bank.

The Biden Administration has just passed an executive order furthering research into crypto assets in view of regulating them, but politicians within the ruling Democrat party remain deeply divided on digital currency.

Kentucky — In a ravine deep in the Appalachian mountains, Warren Rogers stands on the ruins of an abandoned coal-washing plant that used to prepare hundreds of tons of the fuel a day for transport through the tiny town of Belfry, Kentucky. His construction crews have been putting in 10 to 12-hour shifts through the winter, retrofitting the old site to power a new kind of extractive operation: mining the digital currency bitcoin. «We're trying to digitize coal,» said Rogers, the chief strategy officer of Blockware Solutions, a bitcoin mining giant that is expanding rapidly in eastern Kentucky.

As Russia’s self-styled “special operation” against Ukraine continues, crippling economic sanctions remain the Western powers’ primary weapon to counter Russia’s military actions without triggering an even more dramatic escalation. As NATO and allies’ financial offensive unfolds, ensuring that the collective West presents a united front remains political leaders’ chief concern. The global crypto industry keeps getting suspicious looks as some agents of state power are seemingly entrenched in their beliefs that digital assets could be the weak spot undermining the efficiency of the sanctions push. Despite ample evidence to the contrary — including the FBI director’s Congress testimony — there are signs of increased regulatory pressure on the crypto industry participants, as well as policy initiatives that clearly capitalize on the situation to tighten state control of digital assets’ circulation.

Cryptocurrency evangelists are on the defensive amid warnings from US and European lawmakers that digital asset companies are not up to the task of complying with Western sanctions imposed on Russia following the country’s invasion of Ukraine.

Joe Biden has signed his 82nd executive order since being sworn into office in January 2021, directly addressing a regulatory framework for digital assets in a rare moment for the U.S. President.

Democratic Senator Elizabeth Warren is preparing a bill to crack down on the use of crypto as a way to avoid economic sanctions.

While the US President Joe Biden is reportedly set to sign a new crypto- and central bank digital currency (CBDC)-related executive order, the European Union is set for a vote on the much-discussed Markets in Crypto Assets (MiCA) framework.

The global cryptocurrency market capitalisation fell 0.65 percent over the last 24 hours to $1.92 trillion, while trading volumes fell 9.97 percent to $94.83 billion during the same period.

Federal Reserve Chair Pro Tempore Jerome Powell and some members of the U.S. House of Representatives called for congressional action on crypto in response to discussions about Russia potentially evading sanctions.

The largest public pension in America recently loaded up on some volatile stocks, invested more in Warren Buffett's firm, and trimmed a position in a slipping software stock.