Federal Regulators Are Needed for Crypto Oversight: U.S. Accountability Office

Regulators lack an ongoing coordination mechanism for addressing blockchain risks in a timely manner, the report says

• 2023-07-25
• Financial Services Committee Financial Stability Oversight Council Rep. Maxine Waters financial regulators financial regulator Stephen Lynch crypto assets coordination mechanism financial transactions regulatory concerns

Future of Finance: Circle’s Allaire says U.S. lawmakers may be ‘late to the party’ with crypto, but it won’t hold back the world’s largest economy

“When the U.S. does lay down its rules,” added the Circle CEO, “it's going to be a highly competitive market.”

• 2023-07-18
• Jeremy Allaire USDC major companies Circle application layer financial regulators Financial Stability Board

Hong Kong Doubles Effort to Help Crypto Firms Get Legit Banking

(Bloomberg) -- Hong Kong regulators are planning a second meeting in less than two months to push banks to offer services to virtual-asset firms as the city seeks to become an international crypto hub.Most Read from BloombergSocial Security Benefits Targeted for Cuts by House ConservativesStock Rally Is Deepening Beyond AI-Fueled Craze: Markets WrapBiggest Losers of AI Boom Are Knowledge Workers, McKinsey SaysA Goldman Partner’s Sexually Explicit Video Led to Millions in SettlementUS Submarine D

• 2023-06-16
• Bloomberg Hong Kong Monetary Authority financial regulators Hong Kong banking services

Supposed AI-Based Crypto Token Using Musk's Image Targeted by Texas Securities Board

Five U.S. states are ordering TruthGPT Coin promoters to stop using images of Elon Musk, CZ and Vitalik Buterin to promote what they describe as an investment scam.

• 2023-05-04
• Texas State Securities Board Horatiu Caragaceanu artificial intelligence Texas financial regulators Elon Musk investment scam Vitalik Buterin

US response to crypto is like ‘deer caught in headlights,’ says ex-CFTC chair

Christopher Giancarlo, the former chair of the CFTC has called out Washington’s recent regulatory crackdown and said the U.S. is resisting crypto innovation due to its threat to the financial system.

• 2023-04-26
• Commodities Futures Trading Commission Christopher Giancarlo digital currency financial regulators U.S. Securities and Exchange Commission Giancarlo

Bitcoin, ether rally as Fed announces new emergency loan program for banks

Major cryptocurrencies rallied Sunday, as the Federal Reserve announced a new emergency loan program for banks after Silicon Valley Bank and Silvegate Bank both collapsed in the past few days.

• 2023-03-13
• Silicon Valley Bank Silvergate Bank Signature Bank emergency loan program Federal Reserve banks CoinDesk financial regulators

USDC Stablecoin and Crypto Market Go Haywire After Silicon Valley Bank Collapses

USDC's normally stable price sank to $0.89 from $1 while Ethereum gas fees soared hours after the crypto-tied bank failed.

• 2023-03-11
• Silicon Valley Bank global financial crisis financial regulators SVB USDC Circle Internet Financial

Silvergate’s Big Crypto Losses Feed Watchdogs’ Worst Fears

(Bloomberg) -- For months, US authorities have been racing to sever ties between banks and risky crypto ventures, worried the financial system could someday suffer serious losses. They may have been too late.Most Read from BloombergSorry, Twitter. Elon Found His Next Shiny Object.How to Get a Free Flight to Hong Kong in 500,000 Airline Ticket GiveawayWorld’s Rich Take Advantage as $1 Trillion Property Market CratersMusk Was Right About Tesla Rivals Losing BillionsChina Leaders Surprised by Pace

• 2023-03-02
• Bloomberg Silvergate Federal Home Loan Bank System financial regulators digital assets FTX

Silvergate’s Worsening Crypto Losses Feed Watchdogs’ Worst Fears

(Bloomberg) -- For months, US authorities have been racing to sever ties between banks and risky crypto ventures, worried the financial system could someday suffer serious losses. They may have been too late.Most Read from BloombergSorry, Twitter. Elon Found His Next Shiny Object.How to Get a Free Flight to Hong Kong in 500,000 Airline Ticket GiveawayWorld’s Rich Take Advantage as $1 Trillion Property Market CratersLightfoot Is First Chicago Mayor to Lose Reelection in 40 YearsMusk Was Right Abo

• 2023-03-02
• Bloomberg Silvergate Federal Home Loan Bank System financial regulators digital assets FTX

Crypto Firms’ In-House Tokens Are Coming Under More Scrutiny

FTX used its own token, FTT, to fuel its growth before it filed for bankruptcy, according to regulators.

• 2023-02-11
• FTT FTX Celsius Network financial regulators The Wall Street Journal