Us government Financial News

13.07 / 06:09

business regulation us government California California regulator investigating crypto interest accounts

The California Department of Financial Protection and Innovation (DFPI) has warned consumers to “exercise extreme caution” when dealing with interest-bearing crypto-asset accounts.

19.05 / 08:39

business regulation Environment us government crypto framework Framework The Dept. of Commerce has 17 questions to help develop a crypto framework

The US Department of Commerce is calling for submissions on how it can establish a framework that will bolster American economic competitiveness in digital assets including crypto and stablecoins.

29.04 / 05:27

Government us government Senate Senators Senators Bragg and Lummis discuss crypto laws collaboration between US, Australia

Australian Senator Andrew Bragg hasmet with U.S. Senator Cynthia Lummis to discuss potential collaboration on cryptocurrency regulation between the two countries.

15.04 / 15:21

Adoption us government Cash Fitting the bill: US Congress eyes e-cash as an alternative to CBDC

On March 11, United States President Joe Biden issued an executive order in which he encouraged the Federal Reserve to continue research on a prospective U.S. central bank digital currency, or CBDC.

29.03 / 19:57

Law us government white house Executive executive order Financial Waiting on the executive order: how users and financial professionals may benefit from it

United States President Joe Biden’s Executive Order on Ensuring Responsible Development of Digital Assets was widely praised for acknowledging cryptocurrency and blockchain technology’s place in the world and setting the U.S. on a path toward more comprehensive regulation of the sector. The order, or EO, sets a research agenda that encompasses consumer protection, financial stability, crime and national security, U.S. leadership, servicing the underbanked and responsible development.

25.03 / 05:43

business regulation Scams us government DOJ cracks down on 'rug pulls', charging Frosties NFT project founders

The Department of Justice (DOJ) has taken action against an alleged NFT rug pull, after it slapped the founders of the Frosties project with charges relating to fraud and money laundering.

11.03 / 08:49

Adoption regulation Investments us government US Labor Dept warns of crypto risks in retirement plans

The US Department of Labor (DOL) has told 401(k) investors to "exercise extreme care" when dealing with cryptocurrencies and other digital assets citing fraud, theft, and financial loss as “significant risks”.

04.03 / 04:27

us government debate Updates OpenSea updates banned countries list sparking decentralization debate

U.S.-based NFT marketplace OpenSea has reportedly begun barring Iranian users from its platform, sparking outrage from NFT collectors and raising fresh debate about decentralization in the crypto space.

25.02 / 06:43

us government Bitcoin Russian miners keep running, may see pivot to Bitcoin in response to sanctions

Russian Bitcoin (BTC) miners are reportedly running as usual despite the government’s invasion of Ukraine this week.

16.02 / 13:15

Adoption regulation us government Federal Reserve Fed never did it: US Senate Banking head lashes out at Super Bowl crypto ads

The Super Bowl advertisements by crypto companies including Coinbase, FTX, and several others ruled the social media and news headlines for their out-of-the-box approach. However, The United States Senate Banking Committee chief Sherrod Brown was not impressed and blasted the ad-makers for not including appropriate warnings and risks involved.

16.02 / 07:19

Government regulation privacy us government 'Keep Your Coins' bill introduced to restrict government control of crypto

Ohio’s eighth district congressman Warren Davidson has introduced the “Keep Your Coins” bill in the House of Representatives to protect individuals’ self-custodied crypto wallets from U.S. government agency control.

14.02 / 21:15

Government SEC us government penalty SEC hits BlockFi with a $100 million penalty, gives 60 days to comply with a 1940 law

On Feb. 14, the Securities and Exchange Commission, or SEC, announced actions against crypto lending company BlockFi over its failure to register high-yield interest accounts that the agency deems to be securities.

12.02 / 16:51

Art us government AML regulatory Laundering via digital pictures? A new twist in the regulatory discussion around NFTs

On Feb. 6, the United States Department of the Treasury released a report under the headline “Study of the facilitation of money laundering and terror finance through the trade in works of art.” In fact, only a tiny fraction of the 40-page document is dedicated to the “Emerging Digital Art Market,” by which the department understands the market for nonfungible tokens, or NFTs. Still, even a brief mention of the emerging NFT space in this context can have major implications for the tone of the nascent regulatory debate with regard to the asset class.

11.02 / 17:35

Adoption us government MIT MIT, Boston Fed give digital dollar CBDC a modest test run

The world recently got a sneak peek at what a digital dollar, or at least one component of a hypothetical United States central bank digital currency (CBDC), might look like, courtesy of Project Hamilton, a collaborative effort of the Federal Reserve Bank of Boston and the MIT Digital Currency Initiative. The results of the project’s first phase were originally expected last summer but were released on Feb. 3. The project, announced in 2020, is named in honor of Alexander Hamilton, the first U.S. Treasury secretary, and Margaret Hamilton, an MIT staffer who contributed to NASA’s Apollo program.

10.02 / 20:55

economics us government Federal Reserve Reserve US Federal Reserve bank at the helm of CBDC research effort appoints new president

The Federal Reserve Bank of Boston, or Boston Fed, has selected economist Susan M. Collins, University of Michigan provost, to serve as its new president and chief executive officer.

31.01 / 21:33

Law us government data Averted a year ago, controversial transaction monitoring rule is back on Treasury’s radar

As the Department of the Treasury has announced its regulatory agenda for the fiscal year earlier today, many in the web3 space have likely experienced flashbacks to December 2020, when the agency had first proposed to impose know your customer, or KYC, rules on transactions that involve self-custodied crypto wallets.

21.01 / 19:13

Law us government Congress lawmakers hearing Crypto Policy Lawmakers explore Bitcoin mining efficiency, broader crypto policy issues during Congress hearing

On Jan. 20, the Oversight and Investigations subcommittee of the U.S. Congress House Energy and Commerce Committee convened a hearing to investigate the environmental effects of cryptocurrency mining. Despite the narrow focus, the conversation that ensued – which many industry experts appraised as a meaningful educational experience for the lawmakers – touched upon a range of blockchain-related issues and themes beyond energy consumption. Here is how it went down, and what comes next.

21.12 / 17:17

Government Adoption us government The political Santas and Grinches of the crypto industry in 2021

2021 was a huge year for the crypto industry. A few years ago, our elected officials probably hadn’t even heard of crypto before, let alone had an opinion on it. However, this year it seemed like crypto was the hot topic on the block all around the globe.

02.12 / 10:13

Adoption us government Banks Central Bank Lummis says Fed is 'violating the law' with Wyoming blockchain bank delays

Republican senator for Wyoming Cynthia Lummis has argued that the Federal Reserve is “violating the law” by delaying the processing of applications from crypto-native banks to receive accounts at the central bank.

17.11 / 22:23

business Stablecoin Adoption us government Fed Governor Waller praises stablecoins as a genuine innovation that makes the development of CBDCs redundant

In a speech published Wednesday noon, Federal Reserve Governor Christopher J. Waller reiterated his skepticism for implementing a central bank digital currency, or CBDC, in the United States. However, Waller is not an ordinary cryptocurrency skeptic, as he cites the development of genuine private-sector payment innovations, specifically stablecoins, as the reason why CBDCs are not needed.

16.11 / 09:17

Government regulation us government Infrastructure bill can still be remedied: DeFi dev-turned Congress candidate

The controversial U.S. infrastructure bill was signed into law by President Joe Biden this morning, with the legislation passing without amendments made to the broad provisions that could impose stringent reporting requirements on crypto network validators and software developers.

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