Acting Comptroller Brian Brooks continues his work to reach across the aisle with pledges from major players to support minority-owned banks. The U.S. Treasury’s Office of the Comptroller of the Currency is expanding an outreach program designed to provide access to minority depository institutions, or MDIs. Per a Thursday announcement shared with Cointelegraph, the OCC’s…
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Speaking before Congress, OCC head Brian Brooks describes the importance of digital asset innovation and the private sector. Amid a global race toward central bank digital currencies, or CBDCs, the United States needs to focus on the private sector, says Acting Comptroller of the Currency Brian Brooks. “We have built private stablecoins in this country…
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Technology could hold the keys to identity theft protection. Speaking at the online launch event for the Global Digital Asset & Cryptocurrency Association on Friday — a Chicago-based group focused on regulatory clarity and industry security — U.S. Representative Bill Foster explained the importance of a “secure digital identity.” “You can have the most rock-solid cryptographic…
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The Antitrust Subcommittee looks for new legal tools to rein in Apple, Amazon, Facebook and Google — a clear opening for tech tools built to decentralize. On Tuesday, a House subcommittee put out a massive report that places Big Tech in the crosshairs of major antitrust reforms. The four firms at the center of the…
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Despite skepticism about loosening regulations on loans, the Fintech Task Force couldn’t stop talking about crypto as a way of upgrading payments in the U.S. In a hearing on Tuesday, the Congressional Fintech Task Force heard arguments on new rules that would potentially expand banking regulations to accommodate more technology firms providing financial services. A…
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Congressman Conaway sheds some light on new legislation in conversation with Cointelegraph. Two bills introduced last week looked to solidify the roles of the Securities and Exchange Commission and the Commodity Futures Trading Commission — respectively the regulators for securities and commodities in the United States. The bills featured many of the usual suspects in…
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Maybe one day, drawing distinctions between crypto and traditional finance will seem quaint. Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law. Editor’s note The final scene of Animal Farm, Orwell’s classic fable of revolution gone wrong and a staple of secondary-school reading lists throughout…
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Several leaders in banking, payments and politics are joining the Chamber of Digital Commerce, a major voice for the blockchain industry in Washington, D.C. On Wednesday, the Chamber of Digital Commerce announced the addition of Visa, Goldman Sachs and Six Digital Exchange (SDX) to its executive committee. Mick Mulvaney, a former White House Chief of…
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The Senate rejected a skinny $500 billion stimulus package, but for Bitcoin and stocks, it could be a good thing in the medium term. The United States Senate rejected the new stimulus proposal on Sep.10, which did not include a new round of $1,200 checks. However, this boosts the chances of a new proposal with…
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Three Representatives are calling on the Secretary of Commerce to study blockchain for consumer protection. A trio of United States House Representatives — two Democrats and a Republican — have officially introduced a new bill to spur more in-depth analysis of blockchain technology in Congress. On Sept. 1, Rep. Darren Soto (D-FL), Rep. Brett Guthrie…
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