State Massachusets Financial News

09.05 / 22:39

Law Europe Congress Law Decoded: Crypto retirement plans get hot with Warren and Lummis making their moves, May 2–9, 2022

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.

05.05 / 16:03

business Government Bitcoin Sen. Warren asks Fidelity to address the risks to put Bitcoin in 401(k)s

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.

16.04 / 17:01

COST SEC Action Fighting The fight to protect consumers against bad investment advice is advancing, but slowly

The fight to protect consumers from bad investment advice has been a multi-year saga.

15.04 / 19:19

Blockchain education Bitcoin Top universities have added crypto to the curriculum

The world of digital assets saw a significant rise last year. The total cryptocurrency market cap reached $3 trillion, making more people, governments and universities take a closer look at the asset class.

15.04 / 12:57

Tax Day 2022 Is Arriving: Here’s What to Know

The individual tax-filing deadline returns to its mid-April home this year after two years of delays spurred by the pandemic. Here’s what you need to know about the end of tax season.

01.04 / 16:21

Law Congress Senate boost Warren’s battle to curtail crypto gets boost from Ukraine conflict

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?

28.03 / 16:05

Government Law Adoption US e-cash: Bill proposes digital currency that replicates cash, bypasses the Fed

The Electronic Currency and Secure Hardware Act (ECASH Act), introduced today in the United States House of Representatives, could herald a new direction in government-sponsored digital currencies.

26.03 / 00:29

Blockchain CBDC Bank of England MIT adds the Bank of England to its stable of CBDC digital currency research partners

The Bank of England announced Friday that it had reached an agreement with the Massachusetts Institute of Technology Media Lab Digital Currency Initiative, or DCI, on a joint twelve-month research project on Central Bank Digital Currency, or CBDC. The bank said in a statement that the new project was for research purposes only, and not intended to develop an operational CBDC.

17.03 / 21:19

COST UPS Companies are raising consumer prices but you have to be a sleuth to detect it

Americans are paying more for a broad swath of household goods these days. Even items without a higher sticker price may still cost more — it's just hard to notice at first glance.

17.03 / 17:25

Senate Panel Approves Jerome Powell’s Renomination as Fed Chairman

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.

17.03 / 10:31

Blockchain MIT Bank of Canada collaborating with MIT on CBDC research

The Bank of Canada has partnered with the Massachusetts Institute of Technology (MIT) to work on a 12 month research project focused on the design of a Central Bank Digital Currency.

10.03 / 00:47

Government Law regulation Executive executive order Regulators and industry leaders react to Biden‘s executive order on crypto

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.

16.02 / 12:57

Stablecoin regulation Senators US Senators Fail to Find Stable Ground on Stablecoins

Stablecoins are not used to pay for real-world goods or services, but are instead a speculative tool for the “shadiest part of the crypto ecosystem,” Democratic Senator Elizabeth Warren said during a hearing on stablecoins in the US Senate Banking Committee yesterday. Others, meanwhile, stressed that stablecoins are likely safer than traditional banks, and that it would be “inappropriate” to regulate them as banks.

13.02 / 09:43

cryptocurrency CEO Platform Crypto Exchange Fried Sam Sam Bankman-Fried, 29, Heads Crypto Exchange Worth Billions

Sam Bankman-Fried is the co-founder and CEO of cryptocurrency exchange platform FTX

10.02 / 20:55

economics us government Federal Reserve Reserve US Federal Reserve bank at the helm of CBDC research effort appoints new president

The Federal Reserve Bank of Boston, or Boston Fed, has selected economist Susan M. Collins, University of Michigan provost, to serve as its new president and chief executive officer.

10.02 / 18:57

Assurant Fed Nominee Raskin Agrees to Expanded Ethics Pledge to Slow Revolving Door With Wall Street

WASHINGTON—Sarah Bloom Raskin, President Biden’s pick to become the Federal Reserve’s top banking regulator, said she would take added steps to assure lawmakers that she would avoid potential conflicts of interest.

04.02 / 22:35

Blockchain Digital Winter Olympics Reserve Federal Reserve Bank of Boston and MIT report on Project Hamilton’s first phase

As China’s digital yuan sees its debut on the first day of the 2022 Beijing Winter Olympics, another country has shown signs of stepping into the CBDC development arena. This was none other than the USA.

04.02 / 06:41

Blockchain Banks Research MIT Fed and MIT's CBDC research: Distributed Ledger tech has ‘downsides’

Theoretical research into a Central Bank Digital Currency (CBDC) in the U.S. has found that distributed ledger architecture has “downsides.”

24.01 / 02:41

Gap U.S. Food Supply Is Under Pressure, From Plants to Store Shelves

The U.S. food system is under renewed strain as Covid-19’s Omicron variant stretches workforces from processing plants to grocery stores, leaving gaps on supermarket shelves.

14.01 / 13:58

Blockchain UPS Progressive network Calamari Network Rolls Out Community Governance Measures As Decentralization Efforts Advance

Disclaimer: The text below is a press release that was not written by Cryptonews.com.

14.12 / 21:17

Government Stablecoin Congress 'DeFi is the most dangerous part of the crypto world,' says Senator Elizabeth Warren

Massachusetts Senator Elizabeth Warren did not hold back in her criticism of decentralized finance, expressing concern about how a run on stablecoins would affect the average investor.

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