In a Friday announcement, Pham said Keaghan Ames will be her counselor and senior policy adviser at the CFTC starting May 23. Ames worked at Credit Suisse for more than two years as vice president and head of U.S. regulatory policy, which included advising executives on digital assets regulation. He will be joining the CFTC…
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The United States Senate has confirmed the nomination of Jerome Powell as the chair of the board of governors of the Federal Reserve System until 2026. In an 80–19 landslide vote on the Senate floor on Thursday, U.S. lawmakers confirmed Powell as chair of the Federal Reserve, a position he held from February 2018 until…
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According to United States Treasury Secretary Janet Yellen, the stablecoin market is not at the scale at which the drop in the price of TerraUSD (UST) and Tether (USDT) below $1 would present a threat to the country’s financial stability. In a Thursday hearing of the House Financial Services Committee on the Financial Stability Oversight…
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Authorities in the U.S. states of Alabama, Kentucky, New Jersey, Texas and Wisconsin have filed enforcement actions against the Flamingo Casino Club for allegedly perpetrating a scam through nonfungible tokens (NFTs) tied to a metaverse casino. In a Wednesday announcement, the Alabama Securities Commission, Kentucky Department of Financial Institutions, New Jersey Bureau of Securities, Texas…
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Crypto exchange FTX US has applied for a trust charter with the New York Department of Financial Services, or NYDFS, to operate in the state. In a Wednesday announcement, FTX US said it had applied to form a limited purpose trust company with New York’s financial services regulator in an effort to offer its products…
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A group of eight organizations focused on the environment have called on different government agencies under the Biden administration to implement new approaches in response to Proof-of-Work and other crypto mining operations. In a letter to the United States Office of Science and Technology Policy on Monday, the Environmental Working Group, Earthjustice, Greenpeace, the League…
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United States Secretary of the Treasury Janet Yellen called on U.S. lawmakers to develop a “consistent federal framework” on stablecoins to address risks to financial stability. In a Tuesday hearing of the Senate Banking Committee on the Financial Stability Oversight Council Annual Report to Congress, Yellen reiterated her previous position calling for a regulatory framework…
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The United Kingdom has introduced two bills both concerning the seizure and support for cryptocurrencies as part of Prince Charles’ remarks at the State Opening of Parliament. In a Tuesday publication released by the U.K. Prime Minister’s Office, the government said it will address crypto regulation in the country with the introduction of the Financial…
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Reporting on a consultation with the Caribbean nation on Monday, the IMF said its executive directors “recognized the potential of the Sand Dollar to foster financial inclusion” and recommended the Central Bank of The Bahamas “ accelerate its education campaigns and continue strengthening internal capacity and oversight.” The consultation was somewhat of a departure from…
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The United States Securities and Exchange Commission, or SEC, has announced that it has settled charges against Nvidia — the company behind graphics cards used by many crypto miners — in regards to “inadequate disclosures.” In a Friday announcement, the SEC said that Nvidia failed to disclose that mining cryptocurrencies was “a significant element of…
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