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…
Read more
US President Joe Biden on Twitter said he is “firmly committed” to holding those responsible for the Silicon Valley Bank and Signature Bank collapse “fully accountable.” The President of the United States Joe Biden has vowed to hold those responsible for the failure of Silicon Valley Bank and Signature Bank while assuring Americans that their…
Read more
Federal Reserve Chairman Jerome Powell has outlined several risks related to crypto activities during a hearing before the Senate Committee on Banking, Housing, and Urban Affairs. While stating that the Fed sees turmoil, fraud, a lack of transparency, and run risk in the crypto space, he stressed: “We don’t want regulation to stifle innovation.” Fed…
Read more
A U.S. lawmaker has demanded answers from Apple CEO Tim Cook and Google CEO Sundar Pichai about their measures against fake cryptocurrency apps appearing in the Apple App Store and the Google Play store. “Millions of Americans use mobile apps to invest in unregulated digital assets,” said Senator Sherrod Brown. “Reports have emerged of fake…
Read more
U.S. Senator Sherrod Brown has sent letters to cryptocurrency exchanges and stablecoin issuers, including Coinbase, Gemini, Binance, and Tether, asking how they are protecting consumers and investors. “I have significant concerns with the non-standardized terms applicable to redemption of particular stablecoins,” the senator said. US Senator Raises Concerns Regarding Stablecoins U.S. Senator Sherrod Brown (D-Ohio),…
Read more
