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New York State Attorney General Letitia James has proposed “landmark” crypto legislation that claims to be “the strongest and most comprehensive set of regulations on cryptocurrency” in the United States. “Rampant fraud and dysfunction have become the hallmarks of cryptocurrency and it is time to bring law and order to the multi-billion-dollar industry,” said Attorney […]Powered by WPeMatico
Cryptocurrency exchange Bittrex is shutting down its U.S. operations due to “continued regulatory uncertainty” as U.S. regulators increase their enforcement efforts against cryptocurrency trading platforms. Regulatory requirements currently “are often unclear and enforced without appropriate discussion or input, resulting in an uneven competitive landscape,” Bittrex described. Bittrex Exiting U.S. Crypto Market Cryptocurrency exchange Bittrex announced […]Powered by WPeMatico
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has warned the public about crypto investments that seem “too good to be true.” Meanwhile, the U.S. Treasury Department says that the recent crypto market turmoil underscores the urgent need for regulatory frameworks that mitigate the risks posed by digital assets. SEC Chair […]Powered by WPeMatico
The Biden administration is reportedly drafting a government-wide cryptocurrency strategy as an executive order. The directive is expected to be presented to President Joe Biden in the coming weeks. The strategy could be released as soon as next month. US Government-Wide Crypto Strategy The Biden administration is reportedly preparing to release an initial government-wide strategy […]Powered by WPeMatico
U.S. government agencies are urgently working together on a joint regulatory framework for cryptocurrencies, Federal Reserve Vice Chair of Supervision Randal Quarles has confirmed. “We along with the OCC and the FDIC are engaged right now in what we are calling a sprint in seeking to pull together views on” crypto regulation. US Agencies Collaborating […]Powered by WPeMatico
U.S. Congressman Jim Himes says that Congress is not ready to pass cryptocurrency legislation anytime soon, citing a lack of deep understanding of cryptocurrencies among lawmakers. “There’s going to be a lot of discussion in the coming years about ways to regulate” cryptocurrencies, said the congressman. Crypto Legislation Not Expected From Congress Anytime Soon U.S. […]Powered by WPeMatico
U.S. Treasury Secretary Janet Yellen says that the U.S. does not have an “adequate framework” to deal with all the different issues posed by cryptocurrencies, such as money laundering and illicit financing. According to her, there is no framework that’s “quite up to the task of putting in place a regulatory framework that we need” […]Powered by WPeMatico
The top banking regulator in the U.S. has announced that national banks and savings associations in the country can use public blockchains and stablecoins for payment activities. Experts say this is good for bitcoin and its importance should not be understated. Banks Can Use Public Blockchains and Stablecoins The Office of the Comptroller of the […]
The post Top US Banking Regulator: Banks Are Authorized to Use Public Blockchains and Stablecoins for Payment Activities appeared first on Bitcoin News.
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The Electronic Frontier Foundation (EFF) raised concerns about the strengthening financial surveillance through the proposed crypto regulations announced by the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN). The Nonprofit Organization Is Concerned About New Rules on Self-Hosted Crypto Wallets Proposed by FinCEN According to the nonprofit organization based in the United States, the FinCEN is […]
The post Electronic Frontier Foundation: US Government Will Expand Financial Surveillance Through FinCEN’s Proposed Crypto Wallet Rules appeared first on Bitcoin News.
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The Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Treasury Department, has unveiled its proposed rules on transactions involving cryptocurrency wallets. Experts in the crypto community have weighed in on what the new proposed regulation means, what crypto owners should do, and which wallets are affected. FinCEN’s New Rules for Crypto Wallets The […]
The post US Treasury Unveils Stifling Crypto Wallet Regulation — Experts Break Down the Rules appeared first on Bitcoin News.
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