Law Decoded: Three regulatory trends of 2021, Dec. 20–27
The year past saw some fundamental transformations in the relationship between state power and the digital asset space. Go to Source Powered by WPeMatico
Congress
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Bitcoin book for American policymakers gets 5x funding on Kickstarter
With this book, Jimmy Song and a group of seven writers intend to reduce the policymaker’s reliance on traditional media’s narrative on Bitcoin and cryptocurrencies. Go to Source Powered by WPeMatico
Senate hearing on stablecoins: Compliance anxiety and Republican pushback
As stablecoins issuers were put under the pressure of Democratic witnesses, Senator Pat Toomey released his own set of regulatory principles. Go to Source Powered by WPeMatico
US Senate confirms CFTC chair as President Biden announces commissioner picks
At his October confirmation hearing, Rostin Behnam said it was “critically important to have a primary cop on the beat” of an emerging market that included cryptocurrencies and stablecoins. Go to Source Powered by WPeMatico
Crypto in the House: Execs on the march, US partisan politics and Web3
A largely proclaimatory meetup generated a positive response, with the industry appearing ready for a busy new year on the Hill. Go to Source Powered by WPeMatico
Witnesses offer differing opinions on approach to stablecoins at congressional hearing
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.” Go to Source Powered by WPeMatico
‘DeFi is the most dangerous part of the crypto world,’ says Senator Elizabeth Warren
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. Go to Source Powered by WPeMatico
Law Decoded: A different Congress hearing, Dec. 6–13
Direct exchanges between U.S. lawmakers and the crypto industry could be finally taking a constructive turn. Go to Source Powered by WPeMatico
US lawmaker purchases exposure to Bitcoin through Grayscale shares
Congressperson Marie Newman bought between $15,001 and $50,000 of GBTC in addition to up to $215,000 in Coinbase Global’s COIN shares. Go to Source Powered by WPeMatico
US is ‘unquestionably’ behind the curve on crypto ETFs, says Brian Brooks
Brian Brooks proposed regulators treat crypto in much the same way as traditional financial institutions rather than creating an entirely new body to create a single framework for digital assets. Go to Source Powered by WPeMatico
