The Fed is looking at issuing a central bank digital currency, but can’t point to any concrete progress. In a hearing on June 17 before the House Committee on Financial Services, Chairman of the Federal Reserve Jerome Powell got into an exchange with Representative Tom Emmer (R-MN) over the subject of a central bank digital…
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A new World Economic Forum study has revealed how blockchain technology can be used to prevent corruption in public procurement. Worldwide, governments devote an estimated $9.5 trillion each year to public procurement — an average of approximately 15% of national gross domestic product. This money goes to public goods and services such as the construction…
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Chairman of the CFTC Heath Tarbert calls for principles rather than rules to dictate the government’s handling of digital assets. In a framework published in the Harvard Business Law Review on June 15, Heath Tarbert, Chairman of the Commodity Futures Trading Commission, broadly advocated financial regulation based on broader principles rather than specific rules. The…
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To become truly decentralized, blockchain projects should remove dependency on the centralized cloud providers used as their data storage. Across Europe, a privacy row has been brewing over various efforts to use coronavirus contact tracing technology. Contact tracing is the cornerstone of the efforts to track the spread of COVID-19 in an attempt to prevent…
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Congressman Warren Davidson recaps yesterday’s hearing on the digital dollar, which seemed to reach new consensus across party lines — but the devil is in the details. In a June 11 hearing before the Congressional Fintech Task Force, everyone seemed to agree that they could improve financial inclusion by giving people more direct access to…
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Blockchain for distributing votes and independent digital dollars take center stage in the this week’s regulation news. Editor’s note: These are times strange enough that every conversation seems to include some verbal acknowledgment like “strange times, huh?” A quasi-anarchist police-free leftist separatist bubble has formed and is growing on Seattle’s Capitol Hill — a sentence…
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The SEC’s fintech wing invites innovators to network and weigh in on regulation in new online meetups. FinHub, a fintech arm of the U.S. Securities and Exchange Commission (SEC) will now host digital meetings for industry players amid COVID-19 lockdowns. “To facilitate ongoing communications, FinHub will host a series of thematically-based virtual P2P meet-ups over…
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Chinese local governments hit a bump in the road with implementing blockchain applications because stakeholders don’t want to share their data. Chinese local governments are facing difficulties when implementing blockchain applications due to stakeholders unwillingness to share privately owned data, according to a local report on June 10. Data is king According to the investigation,…
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Though former Bakkt CEO Kelly Loeffler’s Georgia Senate seat faces no risk in the June 9 primary, everything is up for grabs in November. Republican Senator and former Bakkt CEO Kelly Loeffler may find herself up against a better-organized and more supported Democratic candidate in November’s special election. Early returns are still coming in from…
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Distributed ledger technology has the potential to solve a lot of economic and social problems, but there are some that we have to solve ourselves. The crypto community was rightly aghast at the “Bitcoin Will Save Us” poster donned by a protester against racial injustice in Dallas last week. Christ pic.twitter.com/BmRmlZnMWa — Jessica Huseman (@JessicaHuseman)…
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