Senator Cynthia Lummis noted that Signature Bank’s Scott Shay mentioned digital assets 10 times in his testimony about the bank’s collapse. A former Signature Bank executive has been slammed for seemingly trying to place the blame for his bank’s collapse on crypto while purportedly being able to pocket millions in bonuses and stock options. During…
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In a congressional hearing, White House economist Jared Bernstein says there’s “some evidence” that China wants the U.S. dollar to lose its status as the world’s reserve currency. However, U.S. Senator Bill Hagerty stressed that the biggest threat to the USD dominance comes from within. China Wants to See U.S. Dollar Losing World’s Reserve Currency…
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On Tuesday, the U.S. Senate Committee on Banking, Housing, and Urban Affairs, also known as the Senate Banking Committee, held a hearing to discuss the recent bank collapses in the United States and the regulatory response. Throughout the testimonies, digital assets and crypto businesses were mentioned. Senate Banking Committee chairman Sherrod Brown claimed on Tuesday…
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While the Senator did not expand on other details of the upcoming bill, she suggested that DeFi should not be exempt from AML laws. A bi-partisan Anti-Money Laundering (AML) bill that covers “decentralized entities” such as decentralized finance (DeFi) protocols and decentralized autonomous organizations (DAOs) will soon be reintroduced to Congress, according to United States…
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Americans are not only worried about future inflation, but they are also dealing with dwindling purchasing power in real-time. Meanwhile, on Thursday, Federal Reserve chairman Jerome Powell plans to address the Senate Banking Committee and discuss inflation. In the remarks pre-published from Powell’s speech, the Fed chair noted that the recent inflation spike may last…
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