Washington Financial News

07.06 / 11:07

Binance MARKET SEC BNB regulatory BNB Stretches Losses as Binance Fights New Regulatory and Media Battles

Binance coin (BNB), the native token of the world's largest crypto exchange Binance, has extended losses as new regulatory scrutiny and media investigation have once again put the exchange in the spotlight - albeit not in a positive manner.

06.06 / 22:23

Fallout Biden Decision on Student-Loan Forgiveness Unlikely Until Later in Summer, Officials Say

WASHINGTON—President Biden is likely to decide later this summer whether to partially forgive student-loan debt for millions of borrowers, according to administration officials and others familiar with the matter, after the president said more than a month ago that he would weigh in on the issue in the next couple of weeks.

05.06 / 12:47

UPS Individual Income Tax Payments on Pace to Reach Record Level

WASHINGTON—An unprecedented gush of income tax revenue is flowing into the federal government, driven in part by investors and business owners, and the size and speed of the increase has surprised even the nation’s fiscal-policy experts.

05.06 / 02:53

Booking Rescue Yellen Says She Never Urged Smaller Rescue Package Over Inflation Concerns

WASHINGTON—Treasury Secretary Janet Yellen denied that she tried to decrease the size of the $1.9 trillion rescue package Democrats approved in early 2021, defending legislation that is now a focus of debate about the causes of currently high inflation.

03.06 / 23:01

Provident 2020 EPA Trims Ethanol Fuel Mandate for 2020-21 But Raises It for 2022

WASHINGTON—The Biden administration on Friday retroactively reduced the amount of ethanol that must be blended into gasoline for 2020 and 2021 but raised the level for 2022, saying the changes are aimed at helping boost domestic fuel supplies.

02.06 / 07:47

European Union Military Germany and US agree to supply advanced weapons to Ukraine

Germany and the US pledged on Wednesday to equip Ukraine with some of the advanced weapons it has long desired for shooting down aircraft and knocking out artillery, as Russian forces closed in on capturing a key city in the east.

01.06 / 19:19

Digital Enterprise boost U.S. Launches Initiatives to Boost Economic Ties With Taiwan

WASHINGTON—The Biden administration is forging closer economic ties with Taiwan in areas including trade, supply chains and technology-export controls, amid growing tensions with China.

01.06 / 16:01

Blockchain cryptocurrency regulation Group of Tech Pros, Academics Urges Washington to Turn its Back on Crypto Lobbyists

A collective comprising 26 IT experts and professionals has slammed crypto, accusing blockchain and crypto of “not being decentralized” – and has petitioned United States politicians to crack down on the sector and its lobbyists.

01.06 / 14:19

Blockchain regulation Bitcoin Crypto Lobbying Computer scientists and academics pursue efforts to stop crypto lobbying in US

Anti-crypto technology experts urged United States lawmakers to resist the influence of pro-crypto lobbying efforts.

31.05 / 13:13

Manufacturing Strategy States Help Business Owners Save Big on Federal Taxes With SALT-Cap Workarounds

WASHINGTON—Business owners are likely saving more than $10 billion annually in federal taxes through state laws that circumvent the $10,000 cap on state and local tax deductions, according to a Wall Street Journal analysis of state data.

30.05 / 19:07

Racing Biden to Meet With Fed’s Powell to Discuss Economy

WASHINGTON—President Biden will meet with Federal Reserve Chairman Jerome Powell on Tuesday to discuss the state of the U.S. and global economy, the White House said late Sunday, as the central bank races to withdraw stimulus amid the worst inflation in 40 years.

28.05 / 12:37

Ripple ETF SEC Bitcoin From Ripple lawsuit to Washington’s urgency, this former counsel reveals it all

From SEC’s lawsuit against Ripple to Washington’s urgency, this former counsel reveals it all

27.05 / 13:01

Provident Digital Digital Dollar Could Coexist With Stablecoins, Fed Vice Chairwoman Says

WASHINGTON—A U.S. central bank digital currency could one day provide consumers with a level of safety amid a proliferation of privately-issued digital assets such as stablecoins, Federal Reserve Vice Chairwoman Lael Brainard told House lawmakers Thursday.

26.05 / 17:11

Provident Digital lawmakers vice chair Fed vice chair set to tell lawmakers a US central bank digital currency could coexist with stablecoins

WASHINGTON — A US central bank digital currency could one day coexist with and even complement so-called stablecoins, Federal Reserve Vice Chairwoman Lael Brainard plans to tell House lawmakers on 26 May.

25.05 / 21:27

Action CBO Projects Inflation, Economic Growth to Cool This Year and Next

WASHINGTON—Inflation and economic growth are forecast to cool later this year and in 2023, the Congressional Budget Office said Wednesday, reflecting an economy in a moment of transition.

25.05 / 00:21

UPS Racing 2024 2024 ELECTION Crypto billionaire says he could spend a record-breaking $1 billion in 2024 election

WASHINGTON —Democratic billionaire Sam Bankman-Fried says he could spend $1 billion or more in the 2024 election, which would easily make him the biggest-ever political donor in a single election.

24.05 / 22:57

BLOCK Treasury to Block U.S. Investors From Receiving Russian Debt Payments

WASHINGTON—The Treasury Department moved to cut off Russia’s ability to make payments on its dollar-denominated sovereign debt, putting Russia on a path toward defaulting on its foreign debts this summer and deepening the country’s economic isolation after its invasion of Ukraine.

24.05 / 13:05

Twitter reserves Biden Exploring Release of Diesel Fuel Reserves Amid High Prices

WASHINGTON—The Biden administration is considering a release of diesel fuel from federal reserves to address skyrocketing prices and the threat of supply outages on the East Coast.

19.05 / 15:31

cryptocurrency Stablecoin After Stablecoin Meltdown, US Crypto Industry Tries To Contain Fallout

US crypto lobbyists in push to contain fallout from stablecoin meltdown

19.05 / 14:17

SEC More Crypto Market Turmoil Is Predicted by SEC Chairman Gary Gensler

WASHINGTON—Securities and Exchange Commission Chairman Gary Gensler said Wednesday he worries that more investors will be harmed in cryptocurrency markets, after this month’s implosion of the stablecoin known as TerraUSD.

19.05 / 13:07

JPMorgan Citigroup Chase lawmakers hearing Fed Nominee Michael Barr to Face Senate Lawmakers in Crucial Hearing

WASHINGTON—President Biden’s pick to become the government’s most influential bank regulator faces a key confirmation hurdle when he testifies Thursday before the Senate Banking Committee.

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