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Twitter's executive chairman Elon Musk continues to push for more regulatory oversight of artificial intelligence, claiming it may be "smarter than all humans at everything" in the future.In a video keynote address at a Chinese government-backed AI conference on July 5, Musk reportedly noted that governments should be concerned about
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied King Charles has given his official sanction to the UK’s Financial Services and Markets Bill, setting the stage for increased supervision of cryptocurrencies and stablecoins. British legislation facilitating oversight of cryptocurrency and stablecoins received official approval
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Leung Fung Yee, CEO of the Securities and Futures Commission of Hong Kong (SFC), believes that including virtual asset service providers in the regulatory system is necessary for embracing crypto innovation and building market trust. During an
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Federal Reserve Chairman Jerome Powell reiterated the need of robust central-bank oversight in the ongoing development of stablecoin regulations by the House Financial Services Committee. Powell further disclosed that the Federal Reserve’s staff has been actively
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The United States Federal Reserve Board sees payment stablecoins as a form of money, Chair Jerome Powell said during questioning at the House of Representatives Financial Services Committee’s semi-annual hearing on Fed policy on June 21. Powell’s comments came in response to committee ranking member Maxine Waters, who asked for his
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But as a product of negotiations between Rep. Patrick McHenry (R-N.C.), the chair of the financial panel, and Rep. Glenn “GT” Thompson (R-Pa.), the chair of the agriculture committee, this bill doesn’t yet represent the needed input from their Democratic counterparts. It’s a “discussion draft” meant to start the conversation,
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The European Banking Authority (EBA) is pushing for an expansion of its guidelines on money laundering and terrorist financing risk factors to encompass “crypto-asset service providers.” The European Union’s financial regulator asserted that these guidelines should incorporate
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied A new draft bill that provides a stablecoin framework in the United States will see private issuers such as Circle, the issuer of USDC, and Tether Holding, the firm behind USDT, placed under the Federal Reserve
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“The cryptocurrency industry is rapidly expanding with some industry lobbyists insisting that their offerings and platforms fall outside the securities laws and regulations,” Better Markets, a Washington-based group advocating for tougher protections in the financial system, wrote in a comment letter last year. “But clearly, the commission must apply securities
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The United States’ most powerful financial regulators gathered on March 24 by video conference for an unscheduled, closed meeting of the Treasury Department’s Financial Stability Oversight Council (FSOC), the department announced in a statement. Treasury Secretary Janet Yellen convened the meeting.Details were sparse in the Treasury statement, but it said
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