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Central bank digital currencies (CBDCs) and blockchain technology are likely to displace traditional banks, according to a Russian lawmaker.Anatoly Aksakov, head of Russia’s parliamentary financial committee and a major skeptic of Bitcoin (BTC), has predicted that the traditional banking system will “fade away” with the adoption of the digital ruble,
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South Korea’s parliamentary ethics subcommittee has voted down a motion to expel Kim Nam-kuk, a former member of the main opposition Democratic Party.A parliamentary ethics subcommittee of South Korea has voted down a motion to expel Kim Nam-kuk, a former member of the main opposition Democratic Party (DP), the local
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The letters raise “serious questions” about whether the SEC championed Prometheum as a poster firm to represent Gensler’s position that no new laws are needed to regulate and police crypto in the U.S., just as McHenry’s committee was about to send digital assets legislation to the House floor. For its
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United States-based cryptocurrency exchange Coinbase’s latest push advocating for crypto holders to “speak directly to lawmakers” featured a House of Representatives member who previously acknowledged 11 ethics violations.As of Aug. 15, more than 54,000 individuals had signed on to Coinbase’s "Stand with Crypto Alliance" in an effort to engage with
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Johnny Ng floated the possibility of licensed Hong Kong exchanges being connected with Shanghai's exchanges. Original Source
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Legislative Council member Johnny Ng is courting crypto exchanges to get licensed in the city as the U.S. drives digital asset firms offshore. Source
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“A system of gambling regulation, in isolation, would be unlikely to address these risk factors” such as the commingling of customer funds alleged of crypto exchange FTX, or correct problems linked to insider trading and market manipulation that are covered by traditional financial regulation, the government added. Source
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New York Rep. Ritchie Torres has called on United States Securities and Exchange Commission (SEC) Chair Gary Gensler to reconsider the regulator’s position on crypto following a “dreadful day in court."In a July 18 letter to Gensler, Torres requested the SEC limit its enforcement cases to “bonafide bad actors” rather
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California Rep. Maxine Waters, ranking member of the United States House Financial Services Committee, has called on leadership at federal regulatory agencies to weigh in on a proposed framework for digital assets.In separate letters dated June 23, Waters requested Treasury Secretary Janet Yellen and Securities and Exchange Commission (SEC) Chair
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Michigan Representative Bill Huizenga, who chairs the United States House Oversight and Investigations Subcommittee, has called out the Securities and Exchange Commission (SEC) for its failure to produce appropriate documents related to the timing of the charges and arrest of former FTX CEO Sam Bankman-Fried.In a June 22 hearing on
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