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The United States Treasury and a number of top U.S. financial regulators suggested new rules to make it easier for the Federal Reserve to designate nonbank institutions as systemically important, making it easier to supervise and regulate them.In remarks from the Financial Stability Oversight Council (FSOC) Council Meeting on April
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The US government is tightening its banking and AI regulations as cryptocurrencies profit from the recent US banking crisis. In a March 30 press briefing, White House press secretary Karine Jean-Pierre announced that the president had directed banking agencies to consider a series of reforms to reduce the risk of future
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Biden said the administration needs to reduce the risks of a future recurrence and protect American jobs and small businesses. The President of the United States Joe Biden has weighed in on the sudden and recent collapse of Silicon Valley Bank (SVB) and Signature Bank (NASDAQ: SBNY). Many SVB clients pulled
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Faustine Fleuret, president of crypto lobby group ADAN, told CryptoX the enhanced registration procedure was a “much more pragmatic approach” than the Senate's. But, she warned, a new requirement to have resilient and secure IT systems could prove difficult for small companies to meet and for regulators to police. Source
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The Astana Financial Services Authority is seeking market feedback on new rules targeting operational resilience and separation of customer assets. Source
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“The focus is more on automatically detecting and acting whenever any symptom of security issues on a bridge appears,” said Ernesto Boado, the former CTO at Aave and co-founder Bored Ghost Developing, which wrote the proposal. “We think that obviously, transparency goes first, in this case, our development goes a
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Significantly, the government will assess which tokens or "digital assets should be regulated by financial services laws" as part of its ongoing ‘token mapping’ work. In August, 2022, Australia's Treasury announced it would prioritize ‘token mapping’ work which involves uncovering the characteristics of all digital asset tokens in Australia including
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Thailand joins the growing list of countries that are seeking to revise their crypto regulation in the aftermath of the FTX collapse. And, as most of these countries do, it intends to tighten the guidelines for the industry and focus on investor protection. According to the report from the Bangkok Post,
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Indonesia is preparing to issue new rules to tighten the regulation of crypto exchanges. Under revised regulatory framework, two-thirds of crypto exchange directors must be Indonesian citizens residing in the country. Indonesia Plans to Tighten Crypto Regulation Indonesia is preparing to issue new rules to tighten the regulation of crypto exchanges, officials
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Thailand is reportedly preparing to amend its law on digital assets to tighten the oversight of the crypto sector and empower the Thai central bank to oversee the sector. “Right now, the central bank has no room to enter into the regulatory framework except for notifying that cryptos are not
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