U.S. Senator Elizabeth Warren says she is “very worried” that the Federal Reserve will tip the economy into recession. “There is nothing in raising the interest rates, nothing in Jerome Powell’s tool bag that deals directly with” the causes of inflation, she explained. Senator Elizabeth Warren on Inflation and the Fed Raising Interest Rates U.S.…
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On Wednesday, the U.S. Federal Reserve raised the federal funds rate by 75 basis points (bps) in order to tame inflation and stabilize the American economy. The recent rate hike is the U.S. central bank’s third rate increase after increasing the benchmark rate by 50 bps last March. Fed Hikes Rate by 75 bps for…
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U.S. Senator Elizabeth Warren says that “too many crypto firms have been able to scam customers and leave ordinary investors holding the bag while insiders make off with their money.” She stressed the need for stronger rules, urging the Securities and Exchange Commission (SEC) and Congress to take action on crypto regulation. U.S. Senator Says…
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Last week was marked by reinvigorated discussion on crypto 401(k) among high-profile US policymakers. Retirement plans still largely remain at the periphery of both crypto adoption and the regulatory discussion. But last week, a major development emerged in this department. United States Senators Elizabeth Warren of Massachusetts and Tina Smith of Minnesota became concerned about…
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The bill is a response from the Alabama Senator to Senator Warren and the Department of Labor’s bid to block Bitcoin investments in self-directed 401(k) investment plans. Republican Senator Tommy Tuberville from Alabama has unveiled a new bill he calls the Financial Freedom Act to allow Americans to add cryptocurrency to their 401(k) retirement savings…
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On Friday, Grant McCarty, the director of policy and public affairs at Bitcoin Magazine, announced the launch of three political efforts aimed at bolstering bitcoin public policy at the Bitcoin 22 conference in Miami. McCarty revealed the Bitcoin Advocacy Project (BAP), the Bitcoin Policy Institute (BPI) and an independent expenditure-only political committee called the Financial…
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The Prime Minister of Estonia has said cryptocurrencies must be restricted in order to address loopholes that may be used by sanctioned Russian entities to evade the punitive measures. In addition, the premier wants all Russian as well as Belarusian banks to be removed from the global payment network. Sanction Evasion Concerns The Estonian prime…
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If passed, Elizabeth Warren’s new draft crypto bill will require local crypto exchanges to submit “detailed records” to the Treasury Department of customers’ identities and transfers to private crypto wallets. Democratic Senator Elizabeth Warren is preparing a bill to crack down on the use of crypto as a way to avoid economic sanctions. Warren’s latest…
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U.S. Treasury Secretary Janet Yellen says the Treasury Department is monitoring Russian efforts to evade sanctions using cryptocurrency. Four U.S. senators have written to Yellen raising concerns about Russia using cryptocurrency as a channel to circumvent sanctions. Treasury Secretary Janet Yellen on Monitoring Russian Efforts to Use Cryptocurrency to Evade Sanctions U.S. Treasury Secretary Janet…
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U.S. Senator Elizabeth Warren is worried that “cryptocurrencies risk undermining sanctions against Russia.” She urges financial regulators “to take this threat seriously and increase their scrutiny of digital assets.”
Senator Elizabeth Warren Worried Russia Could Use Cryptocurrency to Evade Sanctions
As governments worldwide are placing sanctions on Russia following its invasion of Ukraine,…
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