According to the U.S. lawmakers, the infrastructure law contains an “overly-broad interpretation” of what a broker is and places the reporting burden on individuals who may not have the necessary information to comply. A bipartisan group of U.S. senators have called on Treasury Secretary Janet Yellen to clarify the language in the infrastructure bill signed…
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Every witness who appeared in front of the committee seemed to have their own rallying cry for U.S. lawmakers, from calling for greater KYC/AML compliance to “avoid policies that encourage the growth of stablecoins.” The Senate Committee on Banking, Housing and Urban Affairs heard from several expert witnesses with knowledge of stablecoins who urged lawmakers…
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The U.S. lawmaker claimed that the value of stablecoins would “take a nosedive,” with small investors largely feeling the effects of a potential downturn. Massachusetts Senator Elizabeth Warren did not hold back in her criticism of decentralized finance (DeFi), expressing concern about how a run on stablecoins would affect the average investor. In a Tuesday…
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Ukraine’s Ministry of Digital Transformation supports a Stellar-based private stablecoin project developed by a local bank. Tascombank, one of the oldest commercial banks in Ukraine, is launching a Stellar-based pilot for Ukraine’s national fiat currency, the hryvnia. The Stellar Development Foundation (SDF) announced on Dec. 14 a private electronic hryvnia pilot launched by Tascombank and…
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The Asia Pacific and European markets slide in caution ahead of key U.S. inflation data. Growing inflation has become a mounting concern for nations around the world, especially the United States. The U.S. has seen one of the sharpest rises in consumer inflation over the past year. Lawmakers around the globe have claimed that they…
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Miami Mayor Francis Suarez also receives a part of his salary in Bitcoin with the help of a third-party payment processor Strike. The long-standing mayor of Miami Francis Suarez has now announced plans to take a part of his 401(k) payout in Bitcoin (BTC) just a month after he started receiving salary in BTC. Soon…
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Cryptocurrency investment products could be a missing piece of the puzzle towards mass adoption, and are now becoming increasingly more common. The first Bitcoin (BTC) futures exchange-traded fund (ETF) was launched in the United States back on October 19, 2021. Since then, a number of other cryptocurrency investment products have been launched in various markets.…
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Congressperson Marie Newman bought between $15,001 and $50,000 of GBTC in addition to up to $215,000 in Coinbase Global’s COIN shares. Illinois Representative Marie Newman has disclosed she purchased up to $50,000 in exposure to crypto through shares of Grayscale Bitcoin Trust. According to a financial disclosure report filed with the U.S. House of Representatives…
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Brian Brooks proposed regulators treat crypto in much the same way as traditional financial institutions rather than creating an entirely new body to create a single framework for digital assets. Bitfury CEO and former Acting Comptroller of the Currency Brian Brooks has hinted the regulatory environment in the United States could drive many crypto firms…
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“We don’t need knee-jerk reactions by lawmakers to regulate out of fear of the unknown rather than seeking to understand,” said Representative Patrick McHenry. The House Committee on Financial Services heard from several chief executive officers at major crypto firms in the United States, some of whom seemed to present a united front in urging…
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