Representative French Hill (R-Ark.) is the chairman of the newly-formed Financial Services Subcommittee on Digital Assets.
Illinois Officials Pushing State Crypto Licensing to Emulate New York’s BitLicense
Illinois is trying to follow in New York’s crypto footsteps with a new oversight regime, according to David DeCarlo, Illinois’ first regulatory innovation officer, who is among the prominent advocates for the plan now being shepherded through the state legislature.
Consumer Federation of California reattempts to regulate crypto companies
Assemblymember Timothy Grayson introduced the Digital Financial Assets Law to protect Californians from financial hardship and foster responsible innovation.
Sri Lanka against Bitcoin adoption, rejects Draper’s anti-corruption pitch
Central bank Governor Nandalal Weerasinghe believes that adopting decentralized cryptocurrencies would worsen the country’s economic situation.
Panama’s Supreme Court to rule on cryptocurrency legislation
The high court will now decide whether to declare the “crypto bill” unenforceable or to approve it with modifications.
New York Assembly introduces crypto payments bill for fines, taxes
The bill clarifies that state agencies can legally agree to accept cryptocurrency payments and that these agreements should be enforced by the courts.
UK MP says stablecoin is a gateway to CBDC, only crypto can ‘disrupt’ settlements
MP Andrew Griffith and colleagues spoke before a hearing of the U.K. parliamentary Treasury Committee about payments technology and CBDC.
Ethereum bounces above $1.2K, but derivatives metrics show traders fear a collapse
Demand for leverage buying remains absent in ETH despite the recent bounce to $1,200 as the U.S. Federal Reserve continues to hike interest rates.
American CryptoFed registration at risk as SEC alleges filing anomalies
The SEC instituted administrative proceedings against American CryptoFed to determine the issuance of a stop order which would retract its registration and bar sales of in-house tokens, Ducat and Locke.
US Sen. Warren and Durbin demand answers from Bankman-Fried and his successor at FTX
Two crypto-unfriendly Democratic senators have sent a letter to the executives with a list of detailed and penetrating questions about the behavior of Bankman-Fried and his businesses.
MiCA legislation good news for crypto players: Binance Europe VP
The European Union’s Markets in Crypto-Assets legislation could create an easier environment for exchanges to operate in, according to Binance’s VP of Europe.
SBF: FTX to filter assets it thinks are securities from US listings until registration in place
In a long blog post full of proposed standards to guide the industry in the absence of regulations, Sam Bankman-Fried says FTX US will not list assets its lawyers think may be securities.
Rep. McHenry gives progress report on stablecoin legislation, says it’s an ‘ugly baby’
The ranking member of the House Financial Services Committee praised the bipartisanship behind the coming bill, but says there are “complex conversations” ahead.
US senator bill seeks to cushion crypto exchanges from SEC enforcement actions
The Digital Trading Clarity Act of 2022 aims to provide regulatory clarity around classifying digital assets and related liabilities under existing securities laws.
CFTC Commissioner Kristin Johnson touts DCCPA bill in market risk advisory meeting
The committee meeting was Johnson’s first as committee sponsor; she chose to concentrate on digital assets and the Digital Commodities Consumer Protection Act in her opening.
Draft US stablecoin bill would ban new algo stablecoins for 2 years
It’s reported the bills’ definition will cover “endogenously collateralized stablecoins,” which depend on the value of an attached cryptocurrency from the same creator for it to maintain a stable price.
Senator Warren proposes reducing Wall Street’s involvement in crypto
Warren’s letter urges OCC to collaborate with Fed and FDIC to develop an alternative cryptocurrency approach “that adequately protects consumers and the safety and soundness of the banking system.”
Senators Stabenow, Boozman introduce crypto bill that extends CFTC’s regulatory powers
The bill defines digital commodities and requires registration of digital commodities platforms by the CFTC, with language that needs tightening.
UK financial markets bill authorizes regulation of stablecoins, service providers
Crypto regulation came through as expected in the Financial Services and Markets Bill in spite of changes in government personnel and the collapse of the crypto market.
US House Ways and Means chairman asks the GAO to check out crypto in retirement plans
It will look at the use and oversight of crypto in 401(k) and similar plans, which is controversial in many parts of the government.