The question for DeFi regulation: Is there an “owner” of the platform who can be held accountable for complying with the regulations? Decentralized finance, known as DeFi, is a new use of blockchain technology that is growing rapidly, with over $237 billion in value locked up in DeFi projects as of January 2022. Regulators are… More
“This open call for comment is the only way to appropriately crowdsource this issue and appropriately develop a digital asset regulation Genesis Block,” said J.W. Verret. Associate law professor and member of the Securities and Exchange Commission’s Investor Advisory Committee J.W. Verret is calling for the government agency to open for public comment in regards… More
According to the U.S. President, the three nominees have the “experience, judgment and integrity to lead the Federal Reserve and to help build our economy back better for working families.” The White House has officially tapped former Fed governor Sarah Bloom Raskin to serve as the vice chair for supervision for the Federal Reserve, as… More
“Given the intensity of our work throughout the year, we think this is the best way to ensure our pace is sustainable for the long term,” said chief people officer L.J. Brock. Major U.S. crypto exchange Coinbase will be giving its employees one week off each quarter in 2022 to recharge after “long days and… More
“The report really is ready to go and I would expect we will drop it — I hate to say it again — in coming weeks,” said Jerome Powell. At his confirmation hearing in front of members of the Senate Banking Committee, Federal Reserve chair Jerome Powell said the agency would be releasing its report… More
Gold disappointed investors in 2021 as a traditional hedge against inflation, seeing its worst year since 2015. Bitcoin (BTC), the world’s most-valued cryptocurrency, has replaced gold as an inflation hedge for young investors, according to Wharton’s finance professor.Gold’s performance was “disappointing” in 2021, Wharton School finance professor Jeremy Siegel said in a CNBC Squawk Box… More
Corey Frayer has worked as a staff member of the Senate Banking Committee as well as a senior policy adviser for some members of the House Financial Services Committee. United States Securities and Exchange Commission (SEC) chair Gary Gensler has added a new staff member who will offer advice related to crypto policymaking and interagency… More
Charitable crypto campaigns aim to give back this holiday season, demonstrating how effective cryptocurrency and NFT donations can be for donations. The holidays are the perfect time of the year for giving back, and the rise of cryptocurrencies has created even more opportunities for charitable initiatives. This was highlighted during Giving Tuesday 2021, the Tuesday… More
Every witness who appeared in front of the committee seemed to have their own rallying cry for U.S. lawmakers, from calling for greater KYC/AML compliance to “avoid policies that encourage the growth of stablecoins.” The Senate Committee on Banking, Housing and Urban Affairs heard from several expert witnesses with knowledge of stablecoins who urged lawmakers… More
The U.S. lawmaker claimed that the value of stablecoins would “take a nosedive,” with small investors largely feeling the effects of a potential downturn. Massachusetts Senator Elizabeth Warren did not hold back in her criticism of decentralized finance (DeFi), expressing concern about how a run on stablecoins would affect the average investor.In a Tuesday hearing… More
The collectibles will be available at 20,000 retail locations including Walmart, Target, Walgreens. Toy company MGA entertainment announced Tuesday that the first nonfungible token (NFT)-based cards for the L.O.L. Surprise trading card game are now available for purchase.The company entered into a partnership with digital asset consultancy firm Ioconic in September and now hopes that the $25 billion… More
Miami Mayor Francis Suarez also receives a part of his salary in Bitcoin with the help of a third-party payment processor Strike. The long-standing mayor of Miami Francis Suarez has now announced plans to take a part of his 401(k) payout in Bitcoin (BTC) just a month after he started receiving salary in BTC. Soon after… More
Cryptocurrency investment products could be a missing piece of the puzzle towards mass adoption, and are now becoming increasingly more common. The first Bitcoin (BTC) futures exchange-traded fund (ETF) was launched in the United States back on October 19, 2021. Since then, a number of other cryptocurrency investment products have been launched in various markets.That… More
Quarles said some of the approaches on stablecoin regulation from the President’s Working Group on Financial Markets’ November report are unnecessary. Speaking publicly for the last time as a member of the Board of Governors of the Federal Reserve System, Randal Quarles urged regulators to exercise restraint on stablecoins.In a prepared statement for his speech… More
The SEC is opening discussion on crypto and blockchain technology with regard to American investors. The U.S. Securities and Exchange Commission, or SEC, announced Wednesday the title of the upcoming crypto panel for its Dec. 2 Investor Advisory Meeting will be “Helping to Ensure Investor Protection and Market Integrity in the Face of New Technologies.”… More
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