Public needs to know blockchain use cases, AI needs regulation now — Andrew Yang
Andrew Yang, former candidate for United States president and New York City mayor and founder of the Forward Party, had sobering observations about the uses of blockchain, or its lack of use, in the United States and U.S. regulation of artificial intelligence (AI) when he spoke Nov. 16 at th ...
U.S. lawmakers introduce CLARITY Act to limit federal ties with Chinese blockchain
U.S. Representatives Zach Nunn and Abigail Spanberger have jointly introduced the Creating Legal Accountability for Rogue Innovators and Technology (CLARITY) Act. The legislation aims to prohibit federal government officials from conducting business with Chinese blockchain companies.The Ac ...
Rep. Tom Emmer proposes to defund SEC’s crusade against crypto
Pro-crypto Congressman Tom Emmer is advancing an amendment aimed at depriving the United States securities regulator from using government funds to go after crypto enforcement.On Nov. 8, Emmer attached an amendment to HR 4664 — the Financial Services and General Government Appropriat ...
SEC Inspector General says prohibition on crypto ownership hinders agency hiring
The Office of the Inspector General (OIG) of the United States Securities and Exchange Commission (SEC) has released its annual examination of the most serious management and performance challenges facing the agency. Crypto was on its list, as no surprise to anyone in the crypto community. ...
XRP, TON win approval in Dubai International Financial Centre free trade zone
The Dubai Financial Services Authority (DFSA) recognized two more tokens on Nov. 2, adding XRP (XRP) and Toncoin (TON) to its list of recognized tokens. They join Bitcoin (BTC), Ether (ETH) and Litecoin (LTC) as coins recognized in the Dubai International Financial Centre (DIFC). The ...
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, issu ...
South Korean regulator outlines steps to enhance digital asset legislation
South Korea’s Financial Supervisory Service (FSS) is preparing regulations to supplement the Virtual Asset Users Protection Act passed earlier this year, according to local reports. New regulations should be ready by January, well ahead of the law entering into force, the FSS head said. ...
Fed vice chair Barr gives update on CBDC research, plugs stablecoin legislation
The United States Federal Reserve Bank vice chairman spoke at the Philadelphia Fed’s fintech event on Sept. 8 about the central bank's role in financial innovation. Research and supervision was the short answer and a nod to the FedNow Service.Along with the standard disclaimer about ...
‘Pro-crypto bill’ passes out of US House Agriculture Committee
Tact was pervasive in the United States House of Representatives Agricultural Committee’s consideration of the Financial Innovation and Technology for the 21st Century Act on July 27. With many references to bipartisanship and self-congratulatory mentions of the members’ cooperation a ...
US House Republican committee members introduce joint digital assets bill
A bill to create a regulatory framework for digital assets has been introduced by Republican members of the Agriculture and Financial Services Committees of the United States House, the result of several months of joint effort by the two committees.The 212-page bill — called the Fin ...
Bipartisan bill to regulate DeFi, crypto security risks introduced into US Senate
United States Sen. Jack Reed sponsored a bipartisan bill introduced into the Senate on July 18 that would tighten Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations and sanctions requirements for decentralized finance (DeFi). According to a news release on Reed’s website, ...
Fed sees stablecoin as form of money, wants ‘robust’ role in its oversight, Powell says
The United States Federal Reserve Board sees payment stablecoins as a form of money, Chair Jerome Powell said during questioning at the House of Representatives Financial Services Committee’s semi-annual hearing on Fed policy on June 21. Powell’s comments came in response ...
Bill Introduced to Halt Digital Dollar Testing by U.S. Federal Reserve
House Member Alex Mooney of West Virginia introduced a bill against digital dollar testing that the U.S. Federal Reserve could conduct without congressional authorization. The proposed bill seeks to prevent the U.S. Federal Reserve (Fed) from launching a digital dollar pilo ...
Multiple U.S. States Follow Florida in Banning Digital Dollar
After the governor of Florida signed the law banning the digital dollar, other American states Louisiana, Alabama and North Dakota decided to "follow in its footsteps. Last week, Florida Governor Ron DeSantis signed into law a bill banning the U.S. Federal Reserve's (Fed) d ...
French Senate Committee approves amendment to allow crypto ads by media personalities
The French Senate Economic Affairs Committee approved an amendment to current legislation that allows media personalities to advertise cryptocurrency assets on social media. The proposed amendment, which was approved by the economic affairs committee, will be debated in the ...
Circle CEO Dante Disparte Predicts Breakthrough in Cryptocurrency Legislation
Circle CEO Dante Disparte believes so He said the market needs a Dodd-Frank Act analogue Circle Chief Compliance and CSO Dante Disparte has high hopes for this year. He is confident that we are in for a "breakthrough time" in legislation. And countries will be ...
EU Proposes Amendments to Anti-Money Laundering Legislation for Cryptocurrencies
The European Parliament is currently discussing proposed amendments to the EU's anti-money laundering legislation. These amendments, if passed, would impose limitations on the lump sum of anonymous transactions. However, according to Damien Carême, MEP and one of the initiators of the bill, these ...
Missouri House of Representatives Approves Bill to Protect Digital Asset Mining
The Missouri House of Representatives committee recently gave approval to a bill aimed at safeguarding the mining of digital assets. This move follows similar legislation that was also passed by the Mississippi State Senate. The Missouri Digital Asset Mining Protection Bill aims to prohibit state ...