Senate Banking Committee Holds Hearing on Recent Bank Collapses, Calls for Tougher Regulations

On Tuesday, the U.S. Senate Committee on Banking, Housing, and Urban Affairs, also known as the Senate Banking Committee, held a hearing to discuss the recent bank collapses in the United States and the regulatory response. Throughout the testimonies, digital assets and crypto businesses were mentioned. Senate Banking Committee chairman Sherrod Brown claimed on Tuesday […]

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Fed Chair Powell on Crypto: We See Turmoil, Fraud, Lack of Transparency, Run Risk

Fed Chair Powell on Crypto: We See Turmoil, Fraud, Lack of Transparency, Run RiskFederal Reserve Chairman Jerome Powell has outlined several risks related to crypto activities during a hearing before the Senate Committee on Banking, Housing, and Urban Affairs. While stating that the Fed sees turmoil, fraud, a lack of transparency, and run risk in the crypto space, he stressed: “We don’t want regulation to stifle innovation.” Fed […]

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US Lawmaker Demands Answers From Apple and Google on Measures Against Fake Crypto Apps

US Lawmaker Demands Answers From Apple and Google for Listing Fake Crypto Apps in App StoresA U.S. lawmaker has demanded answers from Apple CEO Tim Cook and Google CEO Sundar Pichai about their measures against fake cryptocurrency apps appearing in the Apple App Store and the Google Play store. “Millions of Americans use mobile apps to invest in unregulated digital assets,” said Senator Sherrod Brown. “Reports have emerged of fake […]

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US Senate Banking Chief Criticizes Super Bowl Crypto Ads, Claims ‘Big Crypto Companies Are Desperate’

US Senate Banking Chief Criticizes Super Bowl Crypto Ads, Claims 'Big Crypto Companies Are Desperate'The United States senator from Ohio and Senate Banking Committee chief Sherrod Brown is not a fan of cryptocurrencies. This week during Tuesday’s stablecoin hearing, Brown criticized all the cryptocurrency companies who advertised during the Super Bowl this past weekend and stressed that he’s “never seen the Federal Reserve buy a multimillion-dollar commercial for U.S. […]

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US Senator Asks Coinbase, Gemini, Binance, Tether How They’re Protecting Consumers

US Senator Asks Coinbase, Gemini, Binance, Tether How They're Protecting ConsumersU.S. Senator Sherrod Brown has sent letters to cryptocurrency exchanges and stablecoin issuers, including Coinbase, Gemini, Binance, and Tether, asking how they are protecting consumers and investors. “I have significant concerns with the non-standardized terms applicable to redemption of particular stablecoins,” the senator said. US Senator Raises Concerns Regarding Stablecoins U.S. Senator Sherrod Brown (D-Ohio), […]

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US Senator Says Cryptocurrencies Put Americans’ Hard-Earned Money at Risk

US Senator Says Cryptocurrencies Put Americans' Hard-Earned Money at RiskU.S. Senator Sherrod Brown says cryptocurrencies are not real dollars and they “put Americans’ hard-earned money at risk.” Referring to decentralized finance (defi) as “a shady, diffuse network of online funny money,” he said, “if we want a solution to Americans’ legitimate fears about our banking system, shady start-ups are not the answer.” Senator Brown’s […]

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US Lawmaker Claims Stimulus Bill Bolsters Fed Secrecy, Pork Funds, and Wall Street Bailouts

On Friday, U.S. bureaucrats passed the 2020 stimulus bill, which has become the largest cash injection package ever created by the federal government. However, following the bill making it through the Senate and House, Republican representative Thomas Massie told the public the stimulus bill bolsters a shroud of secrecy surrounding the Federal Reserve. Moreover, within […]

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