Category: Janet Yellen

U.S. lawmakers introduce crypto taxes in infrastructure deal, pegs $28 billion in additional revenue

All bipartisan infrastructure deals settled with crypto payments will henceforth attract additional taxes. The bill has spurred backlash from the crypto community as crypto firms aren’t equipped to report such data. U.S. lawmakers have made some last-minute additions to its bipartisan infrastructure deal. In a move to raise an additional $28 billion in taxation revenue, […]

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Senator Warren Urges Treasury Secretary Yellen to Urgently Adopt Policy to Mitigate Cryptocurrencies’ Risks

Senator Warren Urges Treasury Secretary Yellen to Urgently Adopt Policy to Mitigate Cryptocurrencies’ Risks

U.S. Senator Elizabeth Warren has asked Treasury Secretary Janet Yellen to “act with urgency” and adopt an appropriate policy to address the risks posed by cryptocurrencies. “The longer that the United States waits to adapt the proper regulatory regime for these assets, the more likely they will become so intertwined in our financial system that […]

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Stablecoin War: Paxos Calls Out Tether (USDT) and Circle (USDC) for Issuing Non-Regulated stablecoins

Amid the growing demand for regulating the use of stablecoins, Paxos has called out Tether (USDT) and Circle (USDC) for issuing non-regulated stablecoins. Paxos’ General Counsel and Chief Compliance Officer Dan Burstein has lashed out at the two players, in what he claims to be false claims. Recently, Circle claimed that USDC is the “world’s […]

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Treasury Secretary Yellen Asks US Regulators Overseeing Crypto Assets to ‘Act Quickly’ to Regulate Stablecoins

Treasury Secretary Yellen Asks US Regulators Overseeing Crypto Assets to ‘Act Quickly’ to Regulate Stablecoins

U.S. Treasury Secretary Janet Yellen has asked the regulators overseeing crypto assets to “act quickly to ensure there is an appropriate U.S. regulatory framework in place” for stablecoins. U.S. Department of the Treasury’s Office of Public Affairs announced Monday the outcome of the meeting of the President’s Working Group on Financial Markets (PWG) which Treasury […]

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Why Tether (USDT) hasn’t issued any USDT in 7 weeks?

Tether issued USDT is the biggest stablecoin player in the market with $61.9 billion in market cap. The top stablecoin has been often associated with Bitcoin (BTC) price boost FUDs in the past. The ongoing bearish market sentiments that have continued since May market mayhem also coincides with USDT’s non-issuance. The last market issuance of […]

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Tether hasn’t minted a single USDT on Ethereum in two months amid growing competition

The ERC20 USDC has seen 1800 percent growth so far in 2021 eating into the USDT market share. Tether CTO calls the growing competition healthy for the stablecoin industry. Bitfinex-backed Tether, the largest stablecoin issuer in the market, hasn’t minted even a single USDT on the Ethereum blockchain since May 2021. There are over 62 […]

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US Treasury Secretary Yellen Outlines Plans to Regulate Stablecoins in Collaboration With the Fed, SEC, CFTC

US Treasury Secretary Yellen Outlines Plans to Regulate Stablecoins in Collaboration With the Fed, SEC, CFTC

U.S. Treasury Secretary Janet Yellen will convene a meeting with the Biden administration’s working group on financial markets to discuss stablecoin regulation. “In light of the rapid growth in digital assets, it is important for the agencies to collaborate on the regulation of this sector and the development of any recommendations for new authorities,” said […]

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Yellen convenes President’s Working Group to discuss stablecoins next week

Yellen convenes President’s Working Group to discuss stablecoins next week

U.S. Treasury Secretary Janet Yellen announced Friday that a powerful group of federal financial regulators will meet next week to discuss stablecoins.  The President’s Working Group on Financial Markets (PWG) joins the Treasury, the Office of the Comptroller of the Currency (OCC), and the Federal Deposit Insurance Corporation (FDIC).  In a statement alongside the announcement, […]

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US Senator Urges Treasury Secretary to ‘Make Significant Revisions’ to FinCEN’s Crypto Proposal

US Senator Urges Treasury Secretary to ‘Make Significant Revisions’ to FinCEN’s Crypto Proposal

U.S. Senator Pat Toomey has urged Treasury Secretary Janet Yellen to “make significant revisions” to the proposed crypto regulation by the Financial Crimes Enforcement Network (FinCEN) and the planned adoption of the guidance issued by the Financial Action Task Force (FATF). Senator Asks Janet Yellen to Revise Proposed US Crypto Regulation U.S. Senator Pat Toomey […]

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