Congressman Jake Auchincloss, D-Mass., rejected the urgency for new crypto legislation in response to the collapse of FTX last week. “The disaster with FTX is just another exclamation point arou...
Tag: US Policymaking
U.S. House committee to hold hearing on FTX collapse and crypto fall out
The House Financial Services Committee will hold a hearing next month on FTX’s collapse and the broader implications for the digital asset industry. The committee says it expects to hear from “t...
Trump officially announces 2024 presidential bid
Former President Donald Trump is running to reclaim his old job, the Republican announced after months of openly flirting with another run. “In order to make America great and glorious ag...
NY regulator warns against Congress overriding state crypto regimes
New York’s head financial services regulator wants Congress to look at her state’s rules around crypto when thinking about a national model and warned against federal laws overriding state...
Crypto-friendly Emmer wins key House leadership post
An outspoken proponent of digital assets just won a high-ranking post in Congress. Rep. Tom Emmer, R-Minn., won the race for House GOP whip, according to multiple reports. The Minnesota congres...
FDIC doesn’t back any crypto firms or cryptocurrency, says acting head
The backstop of the U.S. banking system reiterated in a line of questioning before the Senate that its safeguards don’t extend to crypto. Sen. Bob Menendez, D-N.J., a senior member of the Senate...
Senate Banking chair warns crypto could ‘crash our financial system’ following FTX collapse
Senate Banking Committee Chair Sherrod Brown, D-Ohio, is sounding the alarm on crypto following FTX’s collapse. “This year we’ve seen cryptocurrency values collapse by $2 trillion. 2,000 ...
Biden nominates Gruenberg for full FDIC chairmanship
President Joe Biden nominated Martin Gruenberg to chair the Federal Deposit Insurance Corporation, one of the U.S. banking regulators. Gruenberg has occupied the role in an acting capacity sinc...
FTX’s CFTC application to offer direct trading is dead
FTX is pulling the plug on its application to offer its automated margin in the U.S. The bankrupt crypto exchange withdrew its application, made through a subsidiary, to offer a novel structure ...
Democrats hold Senate, House still too close to call
Democrats will keep control of the Senate after tight races in Arizona and Nevada were called for the party, but as vote counting continues in several races, control of the U.S. House of Representativ...
Rep. Brad Sherman asks for increased regulation, calls out ‘billionaire crypto bros’
Congressman Brad Sherman, D-Calif., is the latest politician to call for increased regulation of the cryptocurrency market in the wake of FTX’s multibillion-dollar downfall. “The sud...
Sen. Pat Toomey slams Congress’s failure to produce crypto regulation in good time
Sen. Pat Toomey criticized the the slow process of passing U.S. crypto trading regulations. Hostility and a lack of transparency by the SEC, alongside a failure to pass regulatory guardrails, ha...
New York Fed, several big banks testing ‘regulated liability network’
The Federal Reserve Bank of New York is poised to unveil a proof-of-concept for “regulated liability networks” — an experiment around tracking and transmitting tokenized debt issued by an array of reg...
White House is monitoring FTX implosion, calls for more crypto regulation
The Biden administration has renewed its call for more rules around cryptocurrencies in the U.S. “The administration has consistently maintained that without proper oversight cryptocurrencies ri...
‘Urgent need for legislation’ after FTX collapse, says Maxine Waters
There is an “urgent need for legislation” after the sudden collapse of crypto exchange FTX, Rep. Maxine Waters, D-Calif., said in a statement. Waters, the chair of the House Financia...
House, Senate control unclear as vote counting continues
It wasn’t clear which party will control the Senate after polls closed on Tuesday night, with vote counts in multiple states still too close to call early into Wednesday morning, and a runoff election...
Sen. Lummis points to FTX-Binance as catalyst for her crypto legislation
At least one senator is calling on Congress to reconsider crypto legislation following Binance’s bailout of FTX earlier today. “Market manipulation, lending activity, and whether cus...