Sheila Bair, a former chairperson of the Federal Deposit Insurance Corporation (FDIC), believes the U.S. should create a wholly new regulatory framework for cryptocurrencies.
She went on to explain:
“We are trying to jam crypto trading into state money transmission laws, it just doesn’t work.
I think at some point, we will need a federal framework to have some type of regulatory oversight of exchanges established to trade crypto assets.
They may also be securities, if there are [initial coin offerings] being used to raise equity, they need to regulate it.”
Bair declared that she “welcome[s] regulation” of the cryptocurrency space, advocating for action that takes place sooner than later.
The stability of state governments was called into question this week, as four states sought $100 billion in federal bailouts. [Bloomberg] New Jersey, New York, Connecticut and Pennsylvania all submitted requests to President Donald Trump for funds on Friday.
China’s federal science institution, the Chinese Academy of Sciences, is taking part in a new research effort around blockchain. The highest academy for science in China said it had established a new “Big Data and Blockchain Lab” during a seminar on June 15, according to People’s Daily, the state-run media outlet. The lab, which is
The US Office of Government Ethics has instructed federal employees to report their holdings of virtual currency and transactions of certain investment assets
In addition to adding a new CFO, Ripple is proud to announce the appointment our newest board member, Benjamin Lawsky. Lawsky, the former superintendent of financial services for the state of New York, has more than two decades of experience in both federal and state government.
The shift has already started; finance is moving onto the blockchain, leveraging the decentralization and disintermediation benefits of the technology’s architecture.
Mr. Felix Hufeld, the President of Federal Financial Supervisory Authority [BaFin], talked about Bitcoin and blockchain and compares this infancy of blockchain with the advent of the internet. He says that even Bill Gates at that time did not pay close attention to that new phenomenon. Trying to ensure that you do not fall on […]
Cryptocurrency scams will now be examined as per the new agenda released by the Federal Trade Commission [FTC] in Chicago. A workshop will be held on the 25th of June in the city of Chicago. The Director of the FTC’s Bureau of Consumer Protection, Andrew Smith will talk about this during the introduction at the […]
Solana’s (SOL) price action has entered a critical phase as the asset continues to defend the $131 support zone, one of the most important technical levels on its mid-term chart.
Aster (ASTR) token price is showing early signs of a potential bullish reversal as price action develops a clear double-bottom structure around a major high-time-frame support level.
World Liberty Financial (WLFI), the firm backed by the Trump family, continues to show structural strength as its price action confirms a bullish trend.
Bitcoin (BTC) price is showing early signs of exhaustion after an impulsive rise from the 0.618 value area low. However, the absence of strong volume behind the move casts doubt on the sustainability of a rally.