State Minnesota Financial News

27.02 / 22:35

CBDC regulation SEC coinbase IMF Anti-CBDC bill in the US, no algo stablecoins for Canada: Law Decoded, Feb. 20–27

Last week was relatively calm regarding enforcement news but brought some peculiar local developments in regulation. United States Representative Tom Emmer introduced legislation in the U.S. House of Representatives that could prevent the Federal Reserve from issuing a central bank digital currency (CBDC). According to the Minnesota lawmaker, the bill could prohibit the Fed from issuing a digital dollar “directly to anyone,” bar the central bank from implementing monetary policy based on a CBDC, and require transparency for projects related to a digital dollar.

22.02 / 19:21

CBDC regulation Federal Reserve Congress Digital Dollar lawmaker US lawmaker introduces bill aimed at limiting Fed's authority on digital dollar

Minnesota Representative Tom Emmer has introduced legislation in the United States House of Representatives that could limit the Federal Reserve from issuing a central bank digital currency, or CBDC.

07.02 / 17:37

Citi Corning Farmland Becomes Flashpoint in U.S.-China Relations

GRAND FORKS, N.D.—For more than two years, the mayor of this city near the Minnesota border backed a Chinese company’s plans to build a $700 million corn mill on the outskirts of town, citing the prospect of new jobs, added tax revenue and another place for farmers to sell their corn.

06.02 / 16:39

Citi Corning Farmland Becomes Flashpoint in U.S.-China Relations

04.01 / 15:23

Dash Ripple XRP CEO XRP Price Prediction as Ripple CEO Says He's 'Optimistic' for 2023 – Here's What it Means for XRP

XRP price beams with optimism mid-through this week's trading. The cross-border money transfer token has sustained a bullish outlook following the most recent dip under $0.30. XRP must hold above its immediate support at $0.35 to affirm a bullish grip on the northbound trend.

12.12 / 09:13

Blockchain SEC Congress regulatory US senator calls on SEC's Gensler to answer for 'regulatory failures'

Minnesota Senator Tom Emmer has slammed United States Securities Exchange Commission (SEC) Chairman Gary Gensler for his flawed “crypto information-gathering efforts” and insisted Gensler should appear before Congress to explain the cost of his “regulatory failures.”

15.11 / 13:45

Middle east Elections Law Decoded, Nov. 7–14: How regulators reacted to the FTX crash

Last week was tough — the alarming series of crypto meltdowns continued with the failure of FTX, one of the biggest exchanges on the market. The crypto industry’s very own “Lehman Brothers moment” pushed regulators to react. United States Senator Cynthia Lummis, famous for her openly pro-crypto position, promised deliberate with her colleagues on whether there was market manipulation, while Maxine Waters, chair of the United States House of Representatives Financial Services Committee, pushed for additional federal oversight of crypto trading platforms and consumer protection.

10.11 / 22:57

regulation SEC Congress Sec Chair lawmaker regulatory Republican lawmaker claims SEC chair was coordinating with FTX 'to obtain regulatory monopoly'

Tom Emmer, the recently re-elected Republican lawmaker representing Minnesota’s 6th district in the United States House of Representatives, has alleged Securities and Exchange Commission chair Gary Gensler had been helping FTX CEO Sam Bankman-Fried to gain a “regulatory monopoly” through the crypto firm.

09.11 / 22:55

Congress Elections Post-election roundup: Who were the pro- and anti-crypto winners and losers from the US Midterms?

Results from many election races for seats in the United States Senate and House of Representatives are still coming in, but a number of candidates who have expressed staunch views on digital asset regulation won on Nov. 8.

02.11 / 21:03

business Blockchain Web3 Crypto executives discuss the emergence of Web 3.0 tech hubs around the world

Where are the top destinations for a career in crypto? For some, it’s traditional innovation hubs such as Miami or Silicon Valley. For others, it’s Singapore or Seoul. In addition, some would even argue that as long as you have a stable internet connection, irrespective of location, is sufficient for one to carve their own path in the realm of Web 3.0.

23.09 / 19:01

Provident Twitter Digital Southern Bitcoin Compute North files for chapter 11- Here’s everything you need to know

Compute North has become the latest crypto firm to succumb to the ongoing bear market. One of the largest crypto mining data centers, Compute North has filed for voluntary Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of Texas.

21.09 / 16:03

Workers’ Changing Attitudes Tighten Labor Market

The phrase “labor market” doesn’t do justice to the complex relationship between workers and their jobs. Unlike ordinary goods and services, such as slabs of steel or cups of coffee, workers care about how they’re treated, and have other things to do with their time.

15.09 / 19:55

Blockchain CFTC regulation Energy usage Merge is 'a step in the right direction' to address crypto's energy usage — Rostin Behnam

Rostin Behnam, chair of the United States Commodity Futures Trading Commission, or CFTC, said the Ethereum blockchain’s transition to proof-of-stake may help reduce crypto’s energy usage, but hinted legislation would likely still be needed to address the problem.

30.08 / 23:59

Government Law regulation lawmaker index Crypto 'cannot be partisan,' says US lawmaker who scored negative on bipartisanship index: Report

United States House of Representatives member Tom Emmer has reportedly suggested that regulating and encouraging innovation in the crypto space should not be a political win for either Democrats or Republicans.

25.07 / 08:19

cryptocurrency Digital Tesla Bitcoin accounting "Really Vague": Tesla's Bitcoin Dump Leaves Accounting Mystery In Its Wake

"Teslas disclosure is really vague and not transparent," said an accounting professor.

20.07 / 12:59

regulation SEC us government Crypto Companies US senator blasts SEC for non-judicial actions against crypto companies

Tom Emmer, the Republican Senator from Minnesota, has become the latest politician to blast the United States Securities and Exchange Commission (SEC) for its unethical actions against crypto companies.

10.06 / 11:27

regulation Investments Bitcoin Regulation place Yellen doubts crypto’s place in 401(k), says Congress could regulate

The Secretary of the United States Treasury, Janet Yellen, weighed in on including cryptocurrencies in retirement plans, calling them a very risky investment that should be regulated by Congress.

20.05 / 01:07

Some Fed Officials Face Heat for Wading Into Hot-Button Issues

A regional Federal Reserve leader’s foray into a Minnesota education campaign has reinvigorated a debate over whether the central bank’s increasingly expansive policy and research interests are going beyond what Congress intended for the central bank.

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.

13.04 / 14:27

GOP Senator Criticizes Minneapolis Fed Over Education Issue

A Republican senator has accused the leader of the Federal Reserve Bank of Minneapolis of inappropriately involving the institution in political activity.

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