Washington Financial News

Some members of the G20 said during this week's discussions that a complete ban on crypto should be considered, Reserve Bank of India (RBI) Governor Shaktikanta Das said.

Sequoia Capital has started screening some investments its China arm is considering in technology companies there for US national security concerns, according to people familiar with the matter, as Washington steps up efforts to stop American money from funding China’s development of sensitive technologies.

WASHINGTON—Federal Reserve officials are signaling that a resilient U.S. economy could lead them to raise interest rates somewhat higher than they had anticipated to conquer high inflation.

WASHINGTON—A trio of regulators including the Federal Reserve warned banks to be mindful of liquidity risks related to cryptocurrencies, the latest move by U.S. officials to limit the economy’s vulnerability to the tumultuous market. 

WASHINGTON—Federal Reserve officials are signaling that a resilient U.S. economy could lead them to raise interest rates somewhat higher than they had anticipated to conquer high inflation.

WASHINGTON—The Supreme Court on Wednesday declined to narrow eligibility for overtime pay, ruling 6-3 that an oil-rig supervisor making $200,000 a year qualified because he was paid by the day rather than receiving a fixed salary.

WASHINGTON—The Biden administration will trim costs under a mortgage program for first-time and lower-income buyers, a bid to boost affordability while median home prices remain near record highs, the White House said Wednesday.

US Republican House Majority Whip Tom Emmer has introduced a bill on Wednesday to prevent the Federal Reserve from issuing a central bank digital currency (CBDC) or using it to control monetary policy.

WASHINGTON — Federal Reserve officials at their most recent meeting indicated that there are signs inflation is coming down, but not enough to counter the need for more interest rate increases, meeting minutes released Wednesday showed. While the Jan. 31-Feb. 1 meeting concluded with a smaller rate hike than most of those implemented since early 2022, officials stressed that their concern over inflation is high. Inflation «remained well above» the Fed's 2% target, the minutes stated. That came with labor markets that «remained very tight, contributing to continuing upward pressures on wages and prices.» Consequently, the Fed approved a 0.25 percentage point rate increase that was the smallest hike since the first of this tightening cycle in March 2022. The move brought the fed funds rate to a target range of 4.5%-4.75%.But the minutes said that the reduced pace came with a high level of concern that inflation was still a threat.

WASHINGTON—The Biden administration will trim costs under a mortgage program for first-time and lower-income buyers, a bid to boost affordability while median home prices remain near record highs, the White House said Wednesday.

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.

Blockchain Association CEO Kristin Smith said in a Feb. 22 Bloomberg interview that despite the process being “extremely long” and regulators “stepping in” in the interim, the sector wants U.S. lawmakers to lead crypto legislation.

The United States Congress needs to take control of crypto legislation to make it a more “open process” where the entire marketplace is looked over “comprehensively,” suggests the chief of the prominent U.S. crypto industry body.

WASHINGTON—The Biden administration is expected to trim costs under a mortgage program for first-time and lower-income buyers, a bid to boost affordability while median home prices remain near record highs, according to people familiar with the move. 

WASHINGTON—The Biden administration is expected to impose fresh sanctions on about 200 Russian individuals and entities this week, according to a person familiar with the matter, in a push to tighten the sanctions net around the country a year after its invasion of Ukraine.

Bitcoin (BTC) and Ethereum (ETH), the two biggest cryptocurrencies in the world, continue to hold above the $24,000 and $1,600 marks, respectively. However, they experienced a slight decline this morning, with Bitcoin falling from $25,000 to $24,000. 

Crypto companies spent a record $21.55 million in 2022 on Washington lobbying, with major cryptocurrency exchange Coinbase leading the list. 

The CEO of Custodia Bank Caitlin Long has slammed regulators and lawmakers in Washington D.C. for their “misguided crackdown” on the crypto sector, and also for ignoring her warnings of major “fraud” allegedly conducted by now-bankrupted entities.

WASHINGTON—The U.S. could become unable to pay all of its bills on time sometime between July and September, the nonpartisan Congressional Budget Office estimated, giving lawmakers several months to reach an agreement on lifting the debt limit and avoiding a default.

WASHINGTON—The founder of failed cryptocurrencies TerraUSD and Luna and his company misled US investors who purchased billions of dollars of the digital assets, the Securities and Exchange Commission said on 16 February.

WASHINGTON—The U.S. could become unable to pay all of its bills on time sometime between July and September, the nonpartisan Congressional Budget Office estimated, giving lawmakers several months to reach an agreement on lifting the debt limit and avoiding a default.