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Oversight

US Lawmakers Call for More Oversight of Cryptocurrency’s Environmental Impacts – Bitcoin News

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Twenty-three U.S. lawmakers have called on the U.S. Environmental Protection Agency (EPA) to increase oversight of cryptocurrency’s environmental impacts. “We request that the EPA evaluate ‘Proof-of-Work’ mining facilities’ compliance with environmental statutes,” they said. Lawmakers Want More Oversight of Bitcoin Mining Industry U.S. Representative Jared Huffman (D-CA) and 22 other Congress members

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US Financial Stability Oversight Council identifies stablecoins and cryptos as threats to financial system

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In an annual report published on Friday, the United States Financial Stability Oversight Council, or FSOC, voiced its concern over the adoption of stablecoins and other digital assets. Regarding stablecoins, the FSOC said consumer confidence could be undermined by factors such as illiquidity, lack of appropriate safeguards, opacity regarding redemption rights

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White House Considering Executive Order on Crypto Oversight: Report — CoinDesk

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According to the report, the order would include the Treasury Department, Commerce Department, National Science Foundation and national security agencies. In addition to asking agencies to study different aspects of the industry, the order “would clarify the responsibilities” different agencies have around crypto and blockchain. Source

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A16z Proposes Decentralization-Friendly Oversight Regime for US Government — CoinDesk

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Specifically, a16z’s consumer protections proposal, filed in response to a call from U.S. Sen. Pat Toomey (R-Pa.) of the Senate Banking Committee, recommended creating a simple disclosure-based supervision regime under the Consumer Financial Protection Act. DAOs, meanwhile, are to be given similar legal rights to that of a standard incorporated

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Hong Kong securities official proposes stricter oversight of crypto trading

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A senior executive for Hong Kong’s Securities and Futures Commission, or SFC, believes more needs to be done to tackle cryptocurrency fraud, offering clues about future guidance on digital asset trading in the special administrative region. Deputy chief executive Liang Fengyi said the SFC is obligated to expand the scope of

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New York Regulator Calls for More Social Media Oversight After Twitter Hack

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July’s Twitter hack and ensuing bitcoin scam should impel corporates and even governments into more forcefully counteracting the “weaponization” of social media giants, New York State Department of Financial Services said Wednesday.“The Twitter Hack demonstrates, more than anything, the risk to society when systemically important institutions are left to regulate

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