Cryptocurrency Analysis and News Portal
Brainard said the Fed has been “closely monitoring recent events where risks in the system have crystallized and many crypto investors have suffered losses,” according to a copy of the speech. “Strong regulatory guardrails will help enable investors and developers to build a resilient digital native financial infrastructure.” Source
Read More
Cryptocurrencies like Bitcoin (BTC) could potentially find some mutually beneficial interactions with central bank digital currencies (CBDCs), according to one industry executive.While crypto is often associated with financial freedom, the concept of CBDC is frequently seen as the exact opposite. But this doesn’t mean that there cannot be a balance
Read More
A 6-year veteran of the crypto industry, Andrew Weiner serves as the Vice President of MEXC Global. As the former executive of RegTech and digital identity pioneer iComplyKYC, he worked with notable brands that include Thomson Reuters, ComplyAdvantage, IBM, Mastercard, Deloitte, and KPMG to deliver innovative solutions to Virtual Asset
Read More
“We have seen that the crypto financial system has all the same risks that we’re very familiar with from traditional finance,” she said in a speech at the Clearing House and Bank Policy Institute 2022 annual conference on Wednesday. But given the unique characteristics of crypto, there's a need for
Read More
Two United States government financial officials gave speeches on Sept. 7 in which they expressed their positions on crypto regulation. Both had reservations about crypto.Michael Barr, who was recently appointed United States Federal Reserve Board vice chair for supervision, made his first speech in his new capacity at the Brookings
Read More
The United States Senate has confirmed the nomination of law professor Michael Barr to become the next vice chair for supervision for the Federal Reserve.In a 66-28 vote on the Senate floor on Wednesday, U.S. lawmakers confirmed Barr as vice chair for supervision of the Federal Reserve System for four
Read More
Barr, who was a key Treasury Department official during the administration of former President Barack Obama, will take over as the leading U.S. banking watchdog, where he’ll have a say in how the traditional financial system interacts with cryptocurrencies – especially stablecoins, the lifeblood of crypto transactions. Source
Read More
Regulate now or regret it later, United States Federal Reserve Board vice chairperson Lael Brainard told an audience at a Bank of England conference in London on Friday. Crypto has the same basic risks as tradition finance and needs “strong guardrails,” Brainard claimed, pointing to the recent downturn in market
Read More
“We have seen crypto trading platforms and crypto lending firms not only engage in activities similar to those in traditional finance without comparable regulatory compliance, but also combine activities that are required to be separated in traditional financial markets,” she said at the Bank of England event. “For example, some
Read More
“I really see the potential for a digital dollar as being complementary to a more stable, efficient system that would include stablecoins and commercial bank money, so I really see them potentially enabling private sector innovation,” she said. CBDC holdings and transactions would still be managed through private sector accounts,
Read More