Cryptocurrency Analysis and News Portal
“Certain crypto assets and distributed ledger technology could drive transformational changes in financial markets,” recently appointed Economic Secretary to the Treasury Andrew Griffith told the committee probing the Financial Services and Markets Bill, adding that there are also “risks to consumers and financial stability.” Source
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European Parliament’s economic committee has backed the adoption of the comprehensive Markets in Crypto Assets (MiCA) regulation. It has also supported the introduction of rules for tracing cryptocurrency transfers, part of the latest EU anti-money laundering push. European Union’s MiCA Crypto Law Passes Another Hurdle Before Final Adoption The European Parliament Committee
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The European crypto industry has broadly welcomed the regulatory recognition, even if there are some qualms over the restrictions it places on the use of stablecoins, crypto assets that seek to maintain their value with respect to fiat currencies, as well over uncertainties about whether the rules will apply to
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Binance representatives participated in a hearing of the Philippine Senate Banking Committee, according to a report in the local press Wednesday. Bangko Sentral ng Pilipinas deputy governor Chuchi Fonacier, the country’s Security Exchange Commission (SEC) chair Emilio Aquino, and members of FinTech Alliance Philippines and the Cagayan Economic Zone Authority
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At present, most crypto exchanges are regulated at the state level, with no clear federal guidelines for registration or oversight. The SEC, the CFTC’s counterpart, has indicated that crypto exchanges listing digital securities should be treated as national securities exchanges. Source
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A new Senate grouping is needed to educate lawmakers about the risk of crime using virtual assets, the Centrist Union’s Nathalie Goulet told CryptoX. Source
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The legislation that could establish U.S. regulations for stablecoins has formally been delayed until after the August congressional break, according to Rep. Maxine Waters (D-Calif.), the chairwoman of the House Financial Services Committee. Original Source
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Noting recent market turmoil, the committee said crypto assets did not yet pose a threat to the wider financial system. They might, however, in the future as they become more integrated into mainstream finance, according to meeting summary notes published Tuesday. The committee focuses on the central bank's role in
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Holdings for unbacked crypto would be limited to 1% of a lender’s capital, under plans put out for consultation Thursday Source
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The collection and processing of information was a major theme at the United States Senate Committee on Homeland Security and Governmental Affairs (HSGAC) hearing titled, “Rising Threats: Ransomware Attacks and Ransom Payments Enabled by Cryptocurrency” on Tuesday. The committee hosted a panel of private-sector experts who discussed the problem of
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