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Kia ora kotou katoa. That’s a greeting in te reo Maori, the Maori language of my homeland, Aotearoa New Zealand. Thank you for the kind invitation from the Chair to speak before this Committee. I am pleased to be here as the UK’s regulator for data protection. My principal reason for being here is
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“With no intrinsic value, huge price volatility and no discernible social good, consumer trading of cryptocurrencies like bitcoin more closely resembles gambling than a financial service, and should be regulated as such,” Harriett Baldwin, member of Parliament and chair of the Treasury Committee said in the statement. “By betting on
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Democratic Party members of the U.S. House Committee on Financial Services were handed a memo instructing them to back the party’s position on crypto regulation moments before the commencement of the hearings on May 10. According to the party’s leaked memo, Democrats on the committee were expected to point to
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The ultimatum highlights the growing pressure on the SEC to take a more transparent approach to its regulatory activities. The US House Committee on Financial Services has given the Securities and Exchange Commission (SEC) Chair, Gary Gensler, an ultimatum to respond to its requests. The committee is asking for access to internal
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The chair of the United States House of Representatives Financial Services Committee and six subcommittee chairs have sent a letter to U.S. Securities and Exchange Commission (SEC) secretary Vanessa Countryman voicing their concerns over the agency’s proposed advisory clients custody rule. They join a string of crypto industry figures in
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Three Republican members of the United States House of Representatives Financial Services Committee have sent letters to the heads of U.S. banking regulatory agencies seeking information on possible coordinated efforts taken against digital asset firms. The letters follow up on ones sent to the same addresses by the lawmakers earlier.The
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The United States House of Representatives Committee on Financial Services will hold a hearing on stablecoin regulation on April 19. The hearing follows the announcement of a new draft bill in the House to provide a framework for stablecoins regulation. Some of the speakers invited have released advance transcripts of
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The United States House Committee on Financial Services will hold a hearing on April 19 to discuss stablecoins’ position as a means of payment and whether the ecosystem needs supporting legislation.The committee issued a memorandum to announce an upcoming hearing titled: “Understanding Stablecoins’ Role in Payments and the Need for
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The bill, available on the Committee's hearing page, represents the first major piece of crypto legislation to move in 2023. It creates definitions for payment stablecoin issuers, echoing a term former Senator Pat Toomey (R-Pa.) used when he introduced his own stablecoin bill in 2022. The bill also calls for
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