Signature Bank failed to understand risks associated with crypto: FDIC chair
A related report penned down by FDIC Chief Risk Officer cited poor management as “the root cause of Signature Bank’s failure.” Go to Source Powered by WPeMatico
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G7 pushes accelerating global implementation of ‘travel rule’ for crypto assets
Group of 7 members met in Japan, where they discussed CBDCs and crypto regulation, with an eye towards quickly implementing the “travel rule” for crypto assets. Go to Source Powered by WPeMatico
Bitcoin a top 3 asset in the event of US debt default: Survey
Bitcoin would be a more popular safe haven than the U.S. dollar, the Japanese yen or the Swiss franc, according to a new survey. Go to Source Powered by WPeMatico
BTC miner Rhodium faces lawsuit over an alleged $26M in unpaid fees: Report
Crypto mining firm Riot Platforms seeks to terminate “certain hosting agreements” with Rhodium and requests exemption from any owed power credits to the counterparty. Go to Source Powered by WPeMatico
US lawmakers target perceived risks of crypto adoption in El Salvador with reintroduced bill
The legislation appeared to be another attempt at the Accountability for Cryptocurrency in El Salvador Act, originally introduced after the country’s Bitcoin Law was enacted. Go to Source Powered by WPeMatico
Coinbase establishes advisory council with former US lawmakers
Former Senator Patrick Toomey, former Representative Tim Ryan, former Representative Sean Patrick Maloney, and others will advise Coinbase on crypto policies. Go to Source Powered by WPeMatico
President Biden announces nominations for key positions at Federal Reserve
Leadership at the Fed will likely have an impact on how the U.S. government handles the potential issuance of a central bank digital currency. Go to Source Powered by WPeMatico
SEC beyond crypto: HSBC and Scotia hit with fines over WhatsApp use
Both HSBC and Scotiabank have not been very supportive of the cryptocurrency industry’s adoption in recent years. Go to Source Powered by WPeMatico
GAO cites exposure to digital assets in exploring collapse of Signature Bank
Michael Clements said the GAO had reviewed “large deposits from the digital asset space” in considering whether crypto had contributed to Signature’s failure. Go to Source Powered by WPeMatico
OpenAI CEO to testify before Congress alongside ‘AI pause’ advocate and IBM exec
AI experts from IBM, NYU, and OpenAI will testify before the U.S. Senate on May 16 in a hearing entitled “Oversight of A.I.: Rules for Artificial Intelligence.” Go to Source Powered by WPeMatico