Cryptocurrency Analysis and News Portal
The ongoing crisis and uncertainty around the global banking system could push the cryptocurrency market into a more gray area in terms of regulation, Circle’s chief executive believes.Jeremy Allaire, the CEO of the USD Coin (USDC) issuer, took to Twitter on March 23 to share his reflections regarding the market
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“We won't be able to know which players are trustworthy and which aren't until a credible third party, like a consolidated home country supervisor, can meaningfully oversee them,” Hsu said in remarks prepared for delivery at an Institute of International Bankers event in Washington, D.C. “Currently, no crypto platforms are
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Authorities from the Hainan province in southern China have vowed to increase oversight on the nonfungible token (NFT) sector to “promote the healthy development” of the sector and to stomp out fraud and other associated risks. In a separate announcement, the People’s Bank of China (PBoC) also announced that it
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The United States Federal Reserve Board announced Jan. 27 that it was issuing a policy statement on limitations on banks. The policy seeks to create a level playing field and limit regulatory arbitrage for state banks with deposit insurance, state banks without deposit insurance and national banks, which are overseen
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Commodity Futures Trading Commission (CFTC) Commissioner Kristin Johnson has urged Congress to adopt legislation that "closes the current gap in the oversight of crypto spot markets."During a speech at the digital assets conference at Duke University on Jan. 21, Johnson proposed a number of amendments that would enable the CFTC to
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Two United States senators have taken their questions about the performance of the accounting firms active in the crypto space to a higher power – the Public Company Accounting Oversight Board (PCAOB). Failure to uncover alleged criminality and poor recordkeeping at FTX has sullied the image of the PCAOB and
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Japan has reportedly urged other countries, including the U.S., to regulate crypto exchanges like they do banks. A top official at the Financial Services Agency explained that the recent FTX implosion wasn’t brought on by crypto technology but by “loose governance, lax internal controls, and the absence of regulation and
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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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Officials with the United States Financial Stability Oversight Council, or FSOC, have recommended U.S. lawmakers pass legislation aimed at addressing regulatory gaps for crypto-related activities.In its annual report released on Dec. 16, the FSOC recommended members of Congress pass legislation granting “explicit rulemaking authority for federal financial regulators over the
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The Payment Systems Regulator will be looking at what happens if a crypto payment system goes wrong and the measures needed to protect consumers against fraud, Nick Davey, a Payment Specialist, told CryptoX in an interview. Source
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