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DeFi projects could come under SEC's oversight, says chairman Gensler

SEC chair Gensler calls for more regulation on stablecoins and crypto firms’ custody, market-making arms

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advertisement The Securities and Exchange Commission is considering new firewalls for custody and market-making businesses at crypto firms and pushing for more SEC oversight of stablecoins. During an April 4 speech to the University of Pennsylvania’s law school, SEC chair Gary Gensler said:  “Unlike traditional exchanges, currently centralized crypto trading platforms generally take custody of …

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Buterin calls out 'Bitcoin maximalists' for supporting El Salvador president

Buterin calls out ‘Bitcoin maximalists’ for supporting El Salvador president

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Ethereum creator Vitalik Buterin criticized El Salvador president Nayib Bukele on Friday for forcing businesses in the country to adopt bitcoin. Buterin also called out “Bitcoin maximalists” for supporting Bukele. “Making it mandatory for businesses to accept a specific cryptocurrency is contrary to the ideals of freedom that are supposed to be so important to …

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Legislation calls on CFTC to help craft effective crypto rules

Legislation calls on CFTC to help craft effective crypto rules

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advertisement Newly submitted legislation in Congress seeks to push the Commodities Futures Trading Commission (CFTC) to create reports to bring more clarity to digital asset markets. Rep. Darren Soto (D-FL) introduced the two bills yesterday, co-sponsored by Reps. Ted Budd (R-NC), Ro Khanna (D-CA) and Warren Davidson (R-OH). The co-sponsors are all members of the …

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Proposed financial literacy law that calls for crypto education advances in Georgia

Proposed financial literacy law that calls for crypto education advances in Georgia

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The Georgia House of Representatives passed a bill that calls for state education officials to develop a program focused on financial literacy, with cryptocurrency highlighted as a specific area of learning. The bill cleared the lower chamber of the Georgia legislature on March 8 by a vote of 169-2, with four no-votes and five excused. …

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Yellen Calls Terrorist Financing Using Crypto a 'Concern'

Yellen Calls Terrorist Financing Using Crypto a ‘Concern’

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Cryptocurrencies are “a particular concern” when it comes to terrorist financing, potential Treasury Secretary Janet Yellen said Tuesday. Speaking at a Senate Finance Committee hearing on her anticipated nomination after President-elect Joe Biden takes office tomorrow, Yellen said the U.S. should be aware of emerging tools for terrorist financing. “The technologies to accomplish this change …

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DOJ inspector general calls on FBI to finish developing a ‘cryptocurrency support strategy’

DOJ inspector general calls on FBI to finish developing a ‘cryptocurrency support strategy’

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A report from the U.S. Department of Justice’s Office of the Inspector General called on the FBI to complete its work on a cryptocurrency support strategy as part of a wider effort to beef up its ability to contend with dark web activities. The recommendations were included in a 58-page report, partially redacted and published …

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Rep. Waters calls on Biden to reverse policies that let banks custody cryptocurrencies and stablecoin reserves

Rep. Waters calls on Biden to reverse policies that let banks custody cryptocurrencies and stablecoin reserves

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Congresswoman Maxine Waters has released a wide array of recommended policy changes and approaches to president-elect Joe Biden — a list that includes the rescinding of guidance from the Office of the Comptroller of the Currency focused on banks, cryptocurrencies and stablecoins.  In September, the OCC said that federally chartered banks can hold reserve funds …

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EU finance ministers call for restrictions on stablecoin issuers

European Union official pledges action on stablecoins after calls for new curbs

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A senior official for the European Union’s executive branch said Saturday that concerns among the bloc’s finance ministers about stablecoins will be addressed in future legislation. On Friday, finance ministers from major EU members like Germany and France called for heightened restrictions on stablecoin activities in the region. The next day, during a press conference, …

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Congressman calls for more transparency from the Fed on central bank digital currency work

Congressman calls for more transparency from the Fed on central bank digital currency work

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U.S. Representative Tom Emmer said Thursday that the U.S. Federal Reserve should be more open about its research and development efforts focused on a central bank digital currency, or CBDC. Emmer’s comments came during an appearance of the House Financial Services Committee’s The Task Force on Financial Technology, which met to discuss topics like the …

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