The Federal Open Market Committee, or FOMC, has approved rules which would ban senior officials at the Federal Reserve from purchasing and holding cryptocurrencies and other investments. In a Friday announcement, the FOMC said that starting on May 1, senior Federal Reserve officials already working at the agency would have one year to “dispose of
Regulation
Lael Brainard, a member of the Federal Reserve’s board of governors, encouraged the United States to be a leader in research and policy regarding central bank digital currencies, or CBDCs, due to potential international developments. In remarks prepared for the U.S Monetary Policy Forum in New York on Friday, Brainard said the People’s Bank of
Five members of the Georgia House of Representatives have introduced a bill that would exempt local crypto miners from paying sales and use tax. On Monday, Georgia Representatives Don Parsons, Todd Jones, Katie Dempsey, Heath Clark, and Kasey Carpenter introduced HB 1342, a bill which has yet to be titled. The legislation proposes to amend
Recent research shows that decentralized exchanges that distribute tokens via airdrops see a big boost in user numbers and transactions. But, is building communities this way just crypto’s version of printing money? Airdrops — the disbursal of free tokens to early users as a way of rewarding and building momentum — have been around for
Ukraine’s parliament, the Verkhovna Rada, has approved some significant amendments in the country’s major cryptocurrency-related legislation known as the bill “On Virtual Assets.” The Ukrainian Rada passed the legislation in the second reading during a plenary session on Thursday, with 272 out of 365 deputies supporting the bill. The deputies specifically approved several bill recommendations
The White House will reportedly be issuing an executive order as early as next week directing government agencies to study different aspects of the digital asset space with the goal of creating a comprehensive regulatory framework. In a Thursday report from Yahoo! Finance, Jennifer Schonberger said an official familiar with the matter within the Biden
Major crypto exchange Binance has reportedly halted activities and marketing to Israelis following a request from one of the country’s financial regulators over licensing. According to a Thursday report from Israel-based news outlet Globes, the Capital Market, Insurance and Savings Authority requested Binance provide information on the services it was providing to Israelis as well
A bipartisan group of senators introduced legislation in the U.S. Senate which seeks to mitigate perceived risks posed by El Salvador’s adoption of Bitcoin as a legal currency. The proposed Accountability for Cryptocurrency in El Salvador Act (ACES) aims to “mitigate potential risks to the U.S. financial system” such as money laundering and terrorism funding.
Ripple’s court battle with the United States Securities and Exchange Commission has recently seen new developments that, according to some observers, could foreshadow an impending resolution of this massively consequential case. Feb. 17 marks the deadline for Ripple to unseal a series of 2012 documents whose contents will likely sway the opinions of both the
It’s the Netflix script that wrote itself. A story so outlandish, it’s stunned the crypto community; an industry accustomed to apparent suicides in Spanish jail cells and nonfungible token auctions for dead rappers. The plot involves the United States Department of Justice (DoJ), a crypto exchange with a checkered history, a rapper-cum-Forbes magazine writer, a
Ohio’s eighth district congressman Warren Davidson has introduced the “Keep Your Coins” bill in the House of Representatives to protect individuals’ self-custodied crypto wallets from U.S. government agency control. The introduction on Feb. 15 comes just a day after the Canadian government invoked the Emergencies Act, giving it the power to freeze bank accounts and
The U.S. Securities and Exchange Commission (SEC) has reportedly launched a probe into major crypto exchange Binance’s U.S. arm regarding trading firms connected to Binance CEO Changpeng Zhao. According to a Tuesday report from the Wall Street Journal, the SEC is looking into the relationship between Binance.US and trading firms Sigma Chain AG and Merit
The 2022 Winter Olympics, officially called the XXIV Olympic Winter Games, kicked off on Feb. 4 in Beijing with crypto being a major part of the event, partly because of the Chinese government’s digital currency ambitions. The cryptocurrency community hasn’t had strong ties to the Olympics over the last few years. The last major headline-grabbing
Canadian Prime Minister Justin Trudeau has invoked the Emergencies Act, which gives him the power to freeze Freedom Convoy protesters’ bank accounts and monitor “large and suspicious transactions,” including crypto. Deputy Prime Minister Chrystia Freeland said in a press conference on Feb. 14 that this latest tactical maneuver against the protesters broadens the scope of
Several storylines that had been long in the making dominated last week’s news cycle in the cryptocurrency policy and enforcement department. The Russian government has made another huge step on the path toward creating a tailored regulatory framework for digital assets, unveiling its consolidated view that crypto is to be treated as currency rather than
Historically, Black and Brown communities have had restricted access to opportunities for generational-wealth building. Crypto offers a chance to redress that balance… but an opaque mess of laws and regulations around crypto services and a prohibition on certain wealth-generation opportunities are standing in the way of that happening. Controversial language in the United States’ recently