Republican members of Congress stepped up their allegations of Prometheum’s ties to the Chinese Community Party, claiming potentially false or misleading statements to the SEC. Six members of the United States Congress have called on the U.S. Securities and Exchange Commission (SEC) and Department of Justice to investigate Prometheum, claiming the firm has ties to…
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The bipartisan bills target government transparency when using AI and the formation of a new Office of Global Competition Analysis to stay on top of innovation. Lawmakers in the United States have proposed two new bipartisan bills targeting issues of transparency and innovation in artificial intelligence (AI). On June 8, Democratic Senator Gary Peters, and…
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In a recent statement, former U.S. Federal Reserve chair and current Treasury secretary, Janet Yellen, expressed her desire for Congress to enact more regulatory measures concerning the cryptocurrency industry. Yellen cited Treasury reports on cryptocurrencies that have pinpointed various risks linked to the fast-growing sector. Yellen Sees ‘Holes in the System Where Additional Regulation Would…
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The White House and House Republicans have reached an agreement in principle to raise the U.S. debt ceiling. Described by President Joe Biden as “good news for the American people,” the deal would open the door to avoiding a historic default by the government in Washington and averting not just a potential economic catastrophe in…
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Lawmakers urged a US regulator to not further limit certain financial stakeholders in its proposed rule tightening cryptocurrency custody requirements. Republican Rep. Mike Flood of Nebraska and Democratic Rep. Ritchie Torres of New York sent a letter to the Securities and Exchange Commission last week, urging the regulator to “maintain a pathway to state-regulated custodians.”……
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Traders are still tiptoeing around markets, as multiple risk events remain at the forefront, but BTC margin and futures markets are starting to favor a bullish breakout. Bitcoin has been trying to break above the $27,500 resistance for the past week but to no avail. One of the reasons limiting Bitcoin’s (BTC) upside is the risk of…
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The hearing was filled with a heavy amount of criticizing the SEC, urging to take matters of regulation into Congress’ hands and empowering the CFTC. On May 10, the United States House of Representatives Financial Services Committee and Agriculture Committee held their first joint hearing on digital asset regulation. The event felt like a logical…
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Sen. Cynthia Lummis said she found it disappointing that a former crypto-friendly Signature Bank executive is not taking the blame for the failed bank, while criticizing his wordiness about crypto. The Wyoming Republican, who has advocated for crypto, questioned Signature Bank’s former Chairman Scott Shay and former President Eric Howell on Tuesday at a Senate…
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Former Senator Patrick Toomey, former Representative Tim Ryan, former Representative Sean Patrick Maloney, and others will advise Coinbase on crypto policies. Following some of its leadership team visiting the United Arab Emirates, crypto exchange Coinbase has announced the formation of an advisory council staffed with many former United States lawmakers and industry leaders In a…
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Michael Clements said the GAO had reviewed “large deposits from the digital asset space” in considering whether crypto had contributed to Signature’s failure. 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…
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