Category: Government

Senator Elizabeth Warren attacks cryptocurrency over ransomware, energy use

Senator Elizabeth Warren attacks cryptocurrency over ransomware, energy use

In a June 9 Senate hearing on central bank digital currencies, Subcommittee Chairwoman Elizabeth Warren opened up her commentary with a salvo against cryptocurrencies, calling on lawmakers to face the problem “head on.” Warren, a leading candidate for the Democratic nomination during the 2020 presidential election, attacked cryptocurrencies writ large as facilitating high-profile ransomware attacks […]

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Biden’s national security advisor says G7 needs to ‘deal with the cryptocurrency challenge’

Biden’s national security advisor says G7 needs to ‘deal with the cryptocurrency challenge’

In a White House press briefing on Monday, National Security Advisor Jake Sullivan addressed growing concerns over ransomware and the increasingly visible strikes against high-profile companies and public infrastructure in recent weeks.  Specifically, in response to a question as to goals on ransomware for an upcoming G7 summit, Sullivan said that the administration was hoping […]

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Government Cannot Stand in the Way of Crypto Technologies, Iran Minister Says

Government Cannot Stand in the Way of Crypto Technologies, Iran Minister Says

New technologies, including blockchain and cryptocurrency mining, have helped Iran to increase budget receipts and withstand foreign sanctions, according to the country’s minister for economy and finance. The high-ranking official believes the government can’t interfere with their development for too long. Government Official Cautions Against Impeding Crypto Development Over the past few years, Tehran has […]

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Marathon says its mining pool will stop censoring transactions following bitcoin community outcry

Marathon says its mining pool will stop censoring transactions following bitcoin community outcry

Marathon Digital is reconfiguring its “sanctions-compliant” bitcoin mining pool following a community backlash. CEO Fred Thiel announced the move in a statement posted on the firm’s website on May 31. Marathon’s MARA Pool began validating blocks on the Bitcoin network at the beginning of May, using wallet risk-scoring software from DMG that, according to Marathon, filtered […]

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South Korean Financial Supervisory Service Tasked With Crypto Market Oversight

South Korean Financial Supervisory Service Tasked With Crypto Market Oversight

The Financial Supervisory Service of South Korea will lead government efforts to oversee the country’s expanding cryptocurrency market. The agency has been tasked with the job after prolonged discussions over which Korean regulator should be responsible for the industry. Financial Supervisory Service Takes Responsibility for Crypto Sector in Korea It took the government months to […]

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Rep. Soto prepares suite of crypto legislation for return to Congress

Rep. Soto prepares suite of crypto legislation for return to Congress

Representative Darren Soto (D-FL) is busy setting the agenda for blockchain legislation in the new Congress.  A co-chair on the Congressional Blockchain Caucus, Soto will be familiar to The Block’s readers for his work on industry-relevant legislation. On Tuesday, Soto re-introduced the Blockchain Technology Coordination Act before the Committee on Energy and Commerce. The bill […]

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As Washington weighs crypto, ethics concerns crop up over ‘revolving door’ industry hires

As Washington weighs crypto, ethics concerns crop up over ‘revolving door’ industry hires

Quick Take New interest in cryptocurrencies and blockchain from U.S. regulators and legislators have opened up the doors to a great deal of new hiring between industry and government. The crypto industry has generally greeted these new hires as a sign of acceptance, which it is, but it also sets new ethical expectations on an […]

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A CBDC rollout would require Congress to give the Fed more authority, says US central bank official

A CBDC rollout would require Congress to give the Fed more authority, says US central bank official

On Tuesday, the Senate Banking Committee held a hearing on oversight of the Federal Reserve, during which the topic of a central bank digital currency played a prominent role.  Vice Chairman for Supervision Randal Quarles testified on behalf of the Fed. “I’m glad to see the Fed moving forward with issuing a report on central […]

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London’s leading finance lobbyists call on UK policymakers to set global pace on crypto

London’s leading finance lobbyists call on UK policymakers to set global pace on crypto

On Tuesday, a major UK trade association put out an extensive report calling on policymakers to issue clearer rules on crypto in the country. Named for London’s famed financial district, TheCityUK is one of the most powerful forces in British finance lobbying. The organization prefaces its report with hope for the UK to “take a […]

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The FDIC wants to know more about use cases for crypto at US banks

The FDIC wants to know more about use cases for crypto at US banks

The Federal Deposit Insurance Corporation (FDIC) put out a request for public feedback on depository institutions holding digital assets on May 17.  The FDIC insures bank deposits in the United States — insurance that is a requisite for depository institutions to operate in the country. Today’s announcement is a call for “current and potential digital […]

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