Cornell Professor Warns of Disruption to US Bond Market From Potential Collapse of Major Stablecoin

Cornell Professor Warns of Disruption to U.S. Bond Market From Potential Collapse of Major StablecoinA professor from Cornell University has warned about the potential effects a collapse of a major stablecoin could have on the U.S. bond market. Eswar Prasad said that if large stablecoins face a collapse, the number of Treasury bonds they would need to sell could disrupt the U.S. Treasuries market, affecting prices. Cornell Profesor Alerts […]

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US Lawmakers ‘Deeply Concerned’ That SEC Is Enacting Rules Too Quickly, Without Sufficient Feedback

US Lawmakers 'Deeply Concerned' That SEC Is Enacting Rules Without Sufficient FeedbackTwo U.S. lawmakers have requested answers from the Securities and Exchange Commission (SEC) about its rulemaking process. Their request followed the latest SEC Inspector General report that “raises significant concerns that the agency is trying to enact too many rules, too quickly.” ‘SEC Is Enacting Rules Without Sufficient Feedback’ U.S. Senator Pat Toomey (R-PA) and […]

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US Senator Wants Congress to Step in With Crypto Guidance — Urges SEC to Provide Much More Clarity on Regulations

US Senator: Congress Should Step In With Crypto Guidance, SEC Isn't Providing Clarity on Crypto RegulationU.S. Senator Pat Toomey says Congress should step in and provide a regulatory framework for cryptocurrency. He stressed that the U.S. Securities and Exchange Commission (SEC) is not sharing its framework for regulating crypto with lawmakers, noting that Chairman Gary Gensler “owes us much more clarity on how and why he intends to apply SEC […]

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US Senators Introduce Bipartisan Bill to Exempt Small Crypto Transactions From Taxes

US Senators Introduce Bipartisan Bill to Exempt Small Crypto Transactions From TaxesA new bipartisan bill has been introduced in the Senate that would simplify the use of cryptocurrency for everyday purchases by creating tax exemption for personal crypto transactions under $50 as well as when the capital gains are less than $50. New ‘Virtual Currency Tax Fairness Act’ A new bipartisan bill, known as the “Virtual […]

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SEC Criticized for How It Regulates Crypto — Chair Gensler Says Most Crypto Tokens ‘Have Attributes of Securities’

SEC Criticized for How It Regulates Crypto — Chair Gensler Says Most Crypto Tokens 'Have Attributes of Securities'The U.S. Securities and Exchange Commission (SEC) has been heavily criticized for its approach to regulating the crypto sector. The criticism followed the securities regulator’s action against a former Coinbase employee in an insider trading case, in which the SEC named nine crypto tokens listed on Coinbase as securities. SEC Slammed for Regulation by Enforcement […]

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US Lawmakers Push for Urgent Stablecoin Regulation — Fed Warns of Stablecoin Runs, Janet Yellen Cites UST Fiasco

US Lawmakers Push for Urgent Stablecoin Regulation — Fed Warns of Stablecoin Runs, Janet Yellen Cites UST FiascoAs U.S. lawmakers push for the urgent regulation of stablecoins, the Financial Stability Oversight Council (FSOC) and the Federal Reserve Board warn about the risks of stablecoin runs that threaten the country’s financial stability. Treasury Secretary Janet Yellen brought up the terrausd (UST) fiasco as an example of why a comprehensive regulatory framework is urgently […]

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US Senator Calls on SEC Chairman to Provide Regulatory Clarity on Cryptocurrencies

US Senator Calls on SEC Chairman to Provide Regulatory Clarity on CryptocurrenciesA U.S. senator has asked the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, to provide clear guidance on cryptocurrency regulation. The senator stated that in many enforcement actions, “the SEC did not identify the securities involved or the rationale for their status as securities, which would have provided much-needed public regulatory […]

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US Lawmakers See China’s Authoritarian Crackdown on Crypto as Big Opportunity

US Lawmakers See China's Authoritarian Crackdown on Crypto as Big Opportunity for USSeveral U.S. lawmakers see China’s authoritarian crackdown on cryptocurrency, including bitcoin, as “a perfect opportunity for American leadership on cryptocurrency.” One senator noted that it is “a reminder of our huge structural advantage over China.” US Lawmakers Comment on China’s Cryptocurrency Crackdown Following the latest news of China’s crackdown on cryptocurrency, several U.S. lawmakers have […]

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