Crypto mining operators, custodians and Binance personally received a fine doze of the United States officials’ attention last week. American lawmakers and regulators continue to compete in their creative efforts to propose anything but comprehensive game rules for the crypto industry. Senators Edward Markey and Richard Blumenthal have penned a letter asking Meta CEO Mark…
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Senator Edward Markey and Representative Jared Huffman want miners to disclose emissions data and the EPA to lead an investigation of their impact. United States Senator Edward Markey and Representative Jared Huffman announced on March 3 that they would reintroduce the Crypto-Asset Environmental Transparency Act in Congress. The move comes ahead of a Senate hearing…
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If passed, the legislation could prohibit the Fed from issuing a digital dollar “directly to anyone”, as well as bar the bank from implementing monetary policy based on a CBDC. Minnesota Representative Tom Emmer has introduced legislation in the United States House of Representatives that could limit the Federal Reserve from issuing a central bank…
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Caitlin Long, CEO of crypto bank Custodia, criticized the U.S. government for its handling of a massive crypto fraud that occurred months before the company’s collapse. She made her remarks in a blog post after disclosing evidence to law enforcement. Long’s post followed Custodia’s unsuccessful application to become a member of the Federal Reserve System,…
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The Brazilian government is preparing to release a decree to fill the blank spaces that the recent approval of the cryptocurrency law has left open. The document, prepared by the Ministry of Finance, will establish the areas of oversight and responsibilities for the Central Bank of Brazil and the national securities regulator (CVM). Brazilian Government…
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Four Republican senators have signed on to a bill aimed at barring the U.S. Department of Labor from investigating individuals “using brokerage windows to invest in cryptocurrency.” Alabama Senator Tommy Tuberville has reintroduced legislation aiming to allow United States 401(k) retirement plans to include exposure to cryptocurrencies. In a Feb. 15 announcement, Tuberville said the…
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The judge presiding over the FTX bankruptcy case has denied the U.S. Trustee’s request to appoint an independent examiner for the ongoing proceedings. The decision comes after judge John Dorsey postponed the ruling last week, citing concerns that the examiner could cost creditors tens of millions of dollars. The U.S. Trustee’s Argument for an Independent…
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Senator Tim Scott questioned whether the SEC had been “asleep at the wheel” amid major bankruptcies in the crypto space causing the loss of millions in user funds. The United States Securities and Exchange Commission and its chair Gary Gensler were the targets of many lawmakers and witnesses at a hearing exploring the crash of…
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During the first week of 2023, payment service giant Paypal said it was exploring the launch of a stablecoin. At the time, an executive at Paypal stated that if the company moved forward, it would work closely with financial regulators. However, on Feb. 10, a source noted that Paypal has put the concept on hold…
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According to Lynette Zang, chief market analyst at ITM Trading, U.S. banks have the legal authority to confiscate people’s funds due to legislation passed by Congress. In a recent interview, Zang discussed how the purchasing power of the U.S. dollar has dwindled to “roughly three cents,” her belief that central bank digital currencies (CBDCs) will…
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