House Financial Services Committee member and New Jersey Representative Josh Gottheimer has introduced legislation that would have the Federal Deposit Insurance Corporation back stablecoins in a manner similar to fiat deposits. In a draft of the Stablecoin Innovation and Protection Act of 2022 released on Tuesday, Gottheimer proposed labeling stablecoins issued by insured depository institutions…
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Chris Sununu, who has served as the Governor of New Hampshire since 2017, has established a commission aimed at investigating the technology and laws around digital assets in addition to recommending new legislation. On Wednesday, the New Hampshire Governor’s office announced it would be issuing Executive Order 2022-1 to create the Governor’s Commission on Cryptocurrencies…
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Michelle Rempel Garner, a member of the House of Commons of Canada, has introduced a bill proposing the government set up a framework to encourage the growth of the cryptocurrency sector in the country. In the first reading of Bill C-249 in the House of Commons on Wednesday, Garner proposed having Canada’s Minister of Finance…
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Jason Powell, a member of the Tennessee House of Representatives, has introduced a bill proposing counties, municipalities, and the state to invest in cryptocurrencies and nonfungible tokens, or NFTs. According to Tennessee House Bill 2644 introduced on Feb. 2, Powell proposed amending the current state code to add crypto, blockchain, and NFTs to the list…
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Crypto exchange Coinbase has filed for a political action committee reportedly to support “crypto-forward lawmakers” ahead of the 2022 midterm elections in the United States. According to a Feb. 7 filing with the Federal Election Commission, Coinbase’s chief financial officer Alesia Haas and head of U.S. policy Kara Calvert registered the Coinbase Innovation PAC. The…
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Commodity Futures Trading Commission chair Rostin Behnam is looking to members of Congress to address the commission’s lack of enforcement authority in the digital asset space. At a Wednesday hearing titled “Examining Digital Assets: Risks, Regulation, and Innovation,” Behnam told lawmakers with the Senate Committee on Agriculture, Nutrition, and Forestry that the CFTC’s authority was…
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Authorities in the United States have made arrests and announced the seizure of $3.6 billion in cryptocurrency more than five years after hackers stole 119,756 Bitcoin (BTC) from the Bitfinex exchange. In a Tuesday announcement, the U.S. Department of Justice said it had ordered the arrest of Ilya Lichtenstein and his wife Heather Morgan for…
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Whether regulations on stablecoins and digital assets should be addressed at the state or federal level was the topic of discussion among at least two U.S. lawmakers in a hearing for the House Committee on Financial Services. Speaking virtually at a Tuesday hearing titled “Digital Assets and the Future of Finance: The President’s Working Group…
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Several cryptocurrency exchanges and advocacy groups across different countries have banded together to form a coalition intended to fight market manipulation. In a Monday announcement, market surveillance firm Solidus Labs and exchanges including Bitstamp, Coinbase, BitMEX, and CrossTower said they would be launching the Crypto Market Integrity Coalition, or CMIC, asking all other companies involved…
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A piece of legislation aimed at addressing supply chain issues to keep the U.S. economy and businesses competitive has passed the House of Representatives — without a provision many in the crypto space had criticized for giving the Treasury Secretary authority to shut down exchanges. In a 222-210 vote on Friday, the House of Representatives…
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