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 […]
As on-chain derivatives continue to expand at record pace, the perpetual DEX sector has entered a phase of intensifying competition. This environment is characterized by record volumes, growing demand for market depth, and heightened user sensitivity toward fees.
One of the most notable on-chain crypto traders, known as 0xFC78, has had his fortunes crucially reversed due to suffering his two recent high-leverage trades.
In the crypto market, the ability to earn and withdraw should be basic expectations—yet many exchanges fail to deliver. A recent experience by a Zoomex user challenges this norm, and his story deserves to be shared.
Shiba Inu price is holding its yearly low while recording a sudden 1,000% surge in burn rate, raising the possibility of a reversal forming at a major support level.
Ethereum price continues to show weak momentum as bearish candles strengthen, increasing the likelihood of a deeper correction toward key lower support levels.