US Congress to potentially vote on new legislation for crypto industry by end of May

House Financial Services Committee Chairman Patrick McHenry said new legislation that will give the crypto industry greater clarity regarding regulatory oversight is set for a potential House floor vote by the end of May.

IMF backs crypto to solve Nigeria’s forex issues despite local crackdown

The International Monetary Fund (IMF) has recommended that Nigeria embrace the regulated use of digital assets by licensing international crypto exchanges. The watchdog made the proposal in its latest consultation report for Nigeria.

Kraken refutes SEC’s claim that it offered ‘investment concepts’

Cryptocurrency exchange Kraken refuted the SEC's claims it listed securities, arguing the regulator lacks evidence and is misusing terms to expand authority. The post Kraken refutes SEC’s claim that it offered ‘investment concepts’ appeared first on Crypto Briefing.

Taiwan revises money laundering act to include digital assets

Taiwan is bolstering its anti-money laundering regulations through amendments to its Money Laundering Control Act, as the island aligns its laws with international standards set by the Asia/Pacific Group on Money Laundering (APG).

Rate hikes linked to 11 out of 14 past U.S. recessions, historical analysis shows

Quick Take The Federal Reserve and other central banks worldwide are approaching the end of a rate-hiking cycle, raising concerns about a potential recession. Historical data from Rosenberg Research, shared by QE infinity, reveals a concerning trend: out of the past 14 rate-hiking cycles since 1950, the United States has experienced a recession 11 times.

House passes resolution overturning SEC rule on crypto and digital asset custody

The US House passes bipartisan resolution H.J.Res.

The post House passes resolution overturning SEC rule on crypto and digital asset custody appeared first on Crypto Briefing.

Biden administration to veto overturning of controversial SEC crypto rules

The Biden administration said on May 8 that it would veto H. J. Res. 109, which intends to overturn the SEC’s Staff Accounting Bulletin 121 (SAB 121). The administration said it “strongly opposes” the resolution as the change will interfere with the SEC’s efforts to protect crypto market investors and safeguard the financial system.