United States Financial News

Coinbase's chief executive said a disclosure in its latest quarterly filing did not indicate the largest US cryptocurrency exchange faced a bankruptcy risk, and it had been made to meet a regulatory requirement.

A group of eight organizations focused on the environment have called on different government agencies under the Biden administration to implement new approaches in response to Proof-of-Work and other crypto mining operations.

United States Secretary of the Treasury Janet Yellen called on U.S. lawmakers to develop a "consistent federal framework” on stablecoins to address risks to financial stability.

Bitcoin (BTC) mining has always been a controversial topic. But, Bitcoin’s proof-of-work (PoW) model has reached new levels of concern as senior decision-makers and investors pay closer attention to environmental, social and governance factors. 

New technologies may have rapid, dramatic effects on society, but they may also spread slowly and subtly. Blockchain-powered decentralized science (DeSci) is taking off after some years of gestation. Its impact is being felt not only in the rarified confines of high-tech labs but more broadly in the business world as well. 

After nearly a three-year-long discussion about establishing a task force to oversee blockchain and crypto initiatives, the governor of Utah, Spencer Cox, signed a bill to create the Blockchain and Digital Innovation Task Force.

The United States continues to be a global leader in embracing the cryptocurrency industry thanks to the work of Sen. Patrick Toomey, with the White House being at the forefront of crypto regulation. Last year, President Joe Biden signed a $1.2 trillion bipartisan infrastructure bill — and it included some new legislation that would impact the crypto sector. And more recently, the U.S. president announced a “whole-of-government” approach to regulating cryptocurrency in an across-the-board executive order directing multiple government agencies to answer specific questions on cryptocurrencies. The U.S. for the last year has clearly been seeking to help make the crypto industry more sustainable, which will make it significantly easier for cryptocurrency platforms to operate.

The United States Securities and Exchange Commission, or SEC, has announced that it has settled charges against Nvidia — the company behind graphics cards used by many crypto miners — in regards to “inadequate disclosures.”

The United States on Friday imposed sanctions on virtual currency mixer Blender, accusing it of being involved in one of the largest cryptocurrency heists on record and being used by North Korea, the U.S. Treasury Department said.

Kristin Johnson, one of five commissioners currently serving at the United States Commodity Futures Trading Commission, or CFTC, has announced that a CME Group executive director with experience in crypto will be joining her staff.

Anthony Scaramucci, the founder of the hedge fund SkyBridge Capital, thinks that the next United States presidential candidacy will likely be pro-cryptocurrency given that the U.S. Securities and Exchange Commission (SEC) recently announced the approval of a fourth Bitcoin  (BTC)futures exchange-traded fund (ETF).

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.

The Italian high-end fashion label Gucci has announced it will begin accepting cryptocurrency payments by the end of the month in five of its United States stores, with plans to extend the service to all of its 111 stores in North America.

The US Federal Reserve raised its benchmark short-term interest rate by half a percentage point, its biggest jump since 2000.

Gavin Newsom, the governor of California, has signed an executive order aimed at harmonizing a regulatory framework for blockchain between the federal government and the U.S. state as well as spurring innovation in the space.

Although cryptocurrency may still be misunderstood on Capitol Hill, crypto is becoming more political as its influence gains traction. For instance, lobbying by those involved in the cryptocurrency industry has reached new heights. A report from the nonprofit consumer advocacy group Public Citizen found that the number of lobbyists for cryptocurrency-related issues rose from 115 in 2018 to 320 in 2021. The report further indicated that the number of representatives within the cryptocurrency industry increased from 47 to 157 during that time period. 

The Northern Virginia county of Fairfax has already invested a part of its pension funds in crypto and blockchain startups. Now, it’s mulling over deeper involvement with decentralized finance (DeFi) yield farming.

Stokely-Van Camp, the beverage company with the original rights to market and produce Gatorade, may be exploring releasing virtual sports drinks in the metaverse.

Two committees of the Hawaii State Legislature — Commerce and Consumer Protection (CPN) and Ways and Means (WAM) — unanimously approved the launch of a specialized task force to explore the use and regulation of the crypto ecosystem.

Lawyers for Dfinity Foundation, a Switzerland-based nonprofit behind the Internet Computer blockchain, have filed a lawsuit against Facebook’s parent company Meta for trademark infringement over its infinity logo.

The Empire State made two appearances on the regulatory stage last week, and neither was entirely reassuring.