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Jeremy Allaire says stablecoin regulation will be what lawmakers are focusing on this year because of its straightforward nature and significant growing potential. Original Source
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The EU deferred its final MiCA legislation vote for the second time in two months.The European Union (EU) has postponed the final vote on its Markets in Crypto Assets regulation (MiCA) until April this year. Due to a technical issue, the 27-member state intergovernmental union decided to defer the decisive
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Representative French Hill (R-Ark), who led Republicans in the effort to test the successful ability of a CBDC, will head the new subcommittee of crypto assets, financial technology, and inclusion.The US House Republicans plan to establish a subcommittee to oversee the crypto space amid the ongoing industry-wide downturns. This move
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The United States House of Representatives finally elected a speaker last week, concluding a four-day, 15-ballot ordeal that left many wondering if political gridlock was now the new normal in the U.S., and if so, what the consequences would be. For example, were the concessions made by Republican Kevin McCarthy to
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Financial services providers in Hong Kong are already taking the first steps to provide services to retail investors, according to local reports. Brokers and fund managers in the region have reportedly asked for advice on licensing requirements ahead of new legislation.Lawmakers in Hong Kong passed an amendment to the Anti-Money
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Staffers at the Bank of Canada released an analytic note on fiat-referenced crypto assets, otherwise known as stablecoins, Dec. 19. In addition to a review of mechanisms for creating and distributing stablecoins and a list of the potential risks and benefits they involve, the note expressed the authors’ support for
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As the cryptoworld focused on the drama unfolding around FTX, United States Sen. Elizabeth Warren and Sen. Roger Marshall introduced the “Digital Asset Anti-Money Laundering Act of 2022” on Dec. 14. The seven-page bill would expand the classification of money service business (MSB), prohibit financial institutions from using technology such
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“Once that money is donated, it’s usually fairly quickly spent,” Smith said, pointing out that in the weeks preceding the election, candidates spend a fairly large quantity of the money they’ve received on sending out mailers and buying airtime. Original Source
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“Single regulatory agencies currently generally do not have a comprehensive view of crypto asset entities’ activities,” Brown argued in his letter, which highlighted the findings of a report from the Financial Stability Oversight Council led by Yellen, including its recommendation for legislation that would “create authorities for regulators to have
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U.S. Congressman Brad Sherman has called on the Securities and Exchange Commission (SEC) to “take decisive action to put an end to the regulatory gray area in which the crypto industry has operated.” He added that he plans to work with his colleagues in Congress in the coming weeks “to
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