The Federal Reserve’s top regulatory official says staff from the US central bank should be allowed to invest a small amount in crypto to help them understand the technology. Fed vice chair for supervision Michelle Bowman said at a blockchain event in Wyoming on Tuesday that the regulator should consider allowing its staff “to hold…
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The US state of New York may tax the sales and transfers of crypto and non-fungible tokens (NFTs), under a bill submitted in the state’s Assembly. Assembly Bill 8966, introduced on Wednesday by Democratic Assemblymember Phil Steck, would add a 0.2% excise tax on “digital asset transactions, including the sale or transfer of digital assets.”…
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A group of crypto and fintech executives has urged US President Donald Trump to block banks from charging fees for access to their customer data, arguing it stifles consumer choice. The letter sent to Trump on Wednesday accused large banks of looking to “preserve their market position by imposing exorbitant new ‘account access’ fees that…
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Strategy has just marked five years since its first ever Bitcoin purchase, a starting move that’s helped its share price surge nearly 2,600% since 2020 and revive it from a 20-year lull. MicroStrategy Inc., which now does business as Strategy, bought its first batch of Bitcoin (BTC) on Aug. 11, 2020, spending $250 million to…
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The creator of a now-defunct lending platform has agreed to pay over $10.5 million to settle US Securities and Exchange Commission claims that he took investor funds to buy millions worth of the stablecoin TerraUSD before it collapsed. Huynh Tran Quang Duy, also known as Duy Huynh, told customers of his firm, MyConstant, that their…
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US President Donald Trump is reportedly planning to sign an executive order directing banking regulators to investigate claims of debanking made by the crypto sector and conservatives. Bank regulators would be directed to probe whether any financial institutions violated antitrust, consumer financial protection or fair lending practice laws, according to a draft of the executive…
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A US congresswoman has urged the commodities regulator to investigate its nominated chair, Brian Quintenz, over his ties to Kalshi, a prediction platform regulated by the CFTC. Democratic Representative Dina Titus asked Commodity Futures Trading Commission acting chair Caroline Pham in a letter on Monday to open “an inquiry into whether Mr. Brian Quintenz has…
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BlackRock’s market-dominating spot Bitcoin exchange-traded fund may get bigger after the US Securities and Exchange Commission increased position limits for many Bitcoin funds, according to crypto financial services firm NYDIG. The SEC on Tuesday increased the number of allowed options contracts from 25,000 to 250,000 “for all ETFs with options,” which includes the iShares Bitcoin…
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The US Commodity Futures Trading Commission has launched a “crypto sprint” to begin implementing crypto-related recommendations the Trump administration released on Wednesday. CFTC Acting Chair Caroline Pham said on Friday that the agency would “work closely” with Securities and Exchange Commission Chair Paul Atkins and Commissioner Hester Peirce on its “Project Crypto” initiative announced on…
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Five US Senate Democrats have probed the head of the country’s housing finance agency over his plan to consider how crypto can be counted in the approval process for certain mortgages. The senators, led by Jeff Merkley, sent a letter to Federal Housing Finance Agency (FHFA) director William Pulte on Friday asking him to explain…
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