GAO Financial News

22.01 / 15:27

coinbase GAO Coinbase’s CLO Criticizes U.S. GAO for Lack of Analysis on Crypto Sanctions Risk

Coinbase‘s chief legal officer Paul Grewal has criticized the United States Government Accountability Office (GAO) following its recent report describing crypto as a tool for foreign entities to evade sanctions.

01.11 / 03:55

Provident SEC CRA cover reports recommendations GAO GAO Criticizes SEC’s Handling of Crypto Accounting Bulletin, Calls for Clearer Rule

The Government Accountability Office (GAO) has determined that the Securities and Exchange Commission (SEC) erred in its handling of “Staff Accounting Bulletin 121” (SAB 121) by failing to submit it to Congress as is required for official rules.

31.10 / 22:03

regulation SEC PayPal coinbase Congress legislation GAO guidance GAO finds controversial SEC guidance is subject to congressional oversight

United States Senator Cynthia Lummis has scored another one for crypto with a Government Accountability Office (GAO) decision issued on Oct. 31. The GAO found that Securities and Exchange Commission (SEC) Staff Accounting Bulletin 121 should be subject to congressional review. That bulletin, issued in March 2022, has been a source of ire for many pro-crypto lawmakers.

01.08 / 14:42

UPS Provident Gap Racing show country GAO 401(k) balances highlight major wealth gap, GAO says

A review of 401(k)s shows account balances that are emblematic of widening wealth inequality among older Americans, the Government Accountability Office said in a report Thursday to Congress.

24.07 / 19:39

CFTC regulation SEC Congress legislation Cooperation GAO US GAO says lack of interagency cooperation needs to be addressed in crypto regulation

The United States Government Accountability Office (GAO), a Congressional watchdog agency, has released a report it completed in June on the regulatory framework for the use of blockchain in finance.

12.07 / 08:23

Government Blockchain Adoption us government GAO US GAO explores blockchain for SBA’s small business programs oversight

The United States Government Accountability Office (GAO) found that blockchain technology can help facilitate oversight of various programs run by the Small Business Administration (SBA).

11.05 / 17:39

regulation Congress Silicon Valley GAO GAO cites exposure to digital assets in exploring collapse of Signature Bank

The United States Government Accountability Office, or GAO, has released its preliminary review of the failures of Silicon Valley Bank and Signature Bank — and included exposure to deposits from the cryptocurrency industry.

07.12 / 22:13

regulation SEC FTX GAO Rep. Torres asks US GAO to investigate SEC ‘failure’ to protect public against FTX

An American legislator has asked the United States Government Accountability Office (GAO) to look into the performance of the Securities and Exchange Commission (SEC) regarding the recently failed crypto exchange FTX.

16.06 / 00:09

Adoption regulation legislation GAO us house US House Ways and Means chairman asks the GAO to check out crypto in retirement plans

Chairman of the United Sates House of Representatives Ways and Means Committee Richard Neal sent a letter to the Government Accountability Office (GAO), a legislative branch watchdog, asking the agency to weigh in on the use of cryptocurrency in retirement plans. Defined contribution plans, such as the 401(k), are increasingly allowing savers to incorporate cryptocurrency in their plans, the lawmaker said, and concerns have arisen over crypto’s volatility and limited oversight.

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