Tag: Regulation

Joe Biden Freezes FinCEN’s Crypto Wallet Rulemaking — US Crypto Regulations Under Review

Joe Biden Freezes FinCEN’s Crypto Wallet Rulemaking — US Crypto Regulations Under Review

New U.S. President Joe Biden has frozen all agency rulemaking, including the proposal by the Financial Crimes Enforcement Network (FinCEN) relating to cryptocurrency wallets. Biden will appoint someone to “review any new or pending rules,” the White House has announced. FinCEN’s Crypto Wallet Proposal Frozen, Pending Regulatory Review Joe Biden, the 46th president of the […]

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Yellen: US government should consider benefits of cryptocurrencies and digital assets

Yellen: US government should consider benefits of cryptocurrencies and digital assets

Treasury Secretary nominee Janet Yellen, who previously headed up the U.S. Federal Reserve, said in written testimony on Thursday that cryptocurrencies and digital assets have the potential to “improve the efficiency of the financial system.” As she noted in her written remarks: “Bitcoin and other digital and cryptocurrencies are providing financial transactions around the globe. Like […]

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Acting chair of SEC named as Gary Gensler awaits confirmation

Acting chair of SEC named as Gary Gensler awaits confirmation

SEC commissioner Allison Herren Lee has been named acting chairwoman of the U.S. securities regulator, according to a statement from the agency released Thursday. Lee, who became an SEC commissioner in mid-2019, will serve in an acting capacity as newly-inaugurated president Joe Biden’s pick, Gary Gensler, awaits confirmation in the U.S. Senate. “It’s an honor […]

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Examining the STABLE Act Proposal, Part II

Examining the STABLE Act Proposal, Part II

Quick Take A controversial legislative proposal for the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act was recently announced by members of Congress, which could have extensive implications for digital assets if the bill were signed into law.  Our two-part series examines the STABLE Act Discussion Draft, those endorsing the potential legislation, reactions from the […]

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Dubai Financial Watchdog to Release Consultation Papers for a Crypto Regulatory Framework

Dubai Financial Watchdog to Release Consultation Papers for a Crypto Regulatory Framework

The Dubai Financial Services Authority (DFSA) has unveiled its plans to create a regulatory framework for cryptocurrencies. The announcement was part of its 2021-2022 business agenda released this week. The Papers Will Be Released in the First Half of 2021 According to the watchdog, which regulates the Dubai International Financial Centre (DIFC), the upcoming crypto […]

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Janet Yellen Reveals Plans for Bitcoin — Sees Cryptocurrencies Used Mainly for Illicit Financing

Janet Yellen Reveals Plans for Bitcoin — Sees Cryptocurrencies Used Mainly for Illicit Financing

Janet Yellen, Joe Biden’s pick for the Treasury Secretary, has revealed her policy for cryptocurrencies, including bitcoin. She claims that cryptocurrencies are mainly used for illicit financing and their use needs to be curtailed. Janet Yellen Reveals Her Plans for Cryptocurrencies In the Senate hearing to consider Janet Yellen’s nomination as Secretary of the Treasury […]

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Fiat Freeway: Anchorage Receives OCC Approval to Become a Federally Chartered Bank and Brian P. Brooks Steps Down From the OCC

Fiat Freeway: Anchorage Receives OCC Approval to Become a Federally Chartered Bank and Brian P. Brooks Steps Down From the OCC

Quick Take ‘Fiat Freeway’ is a weekly column providing the latest updates on central bank digital currencies (CBDCs) and stablecoins. This week’s column explores Anchorage’s conditional approval from the Office of the Comptroller of the Currency (OCC) for a national trust charter and Brian P. Brooks departs from the OCC. This research piece is available […]

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Bithumb CEO Predicts Only Four to Seven South Korean Crypto Exchanges Will Survive New Rules

Bithumb CEO Predicts Only Four to Seven South Korean Crypto Exchanges Will Survive New Rules

The CEO of the South Korean cryptocurrency exchange Bithumb has made some predictions regarding the upcoming new rules governing the national industry. In fact, the executive believes there will only be between four and seven exchanges surviving the new regulation. Smaller Companies Unlikely to Meet New Banking, Anti-Money Laundering Protocols on Time During an interview […]

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Economist Slams ECB Chief Lagarde’s Bitcoin Remarks as Dangerous for Cryptocurrency Regulation

Economist Slams ECB Chief Lagarde’s Bitcoin Remarks as Dangerous for Cryptocurrency Regulation

Responding to European Central Bank (ECB) President Christine Lagarde’s recent remarks about bitcoin, the chief economist at investment firm Tressis said what Lagarde implied was “outrageous” and “dangerous” for cryptocurrency regulation. Economist Says Governments Would Be Happy to Implement Strict Crypto Regulations Daniel Lacalle, fund manager and chief economist at Tressis Gestion, commented on Christine […]

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