2023-8-29 23:05 |
The committee members suspect the Fed is trying to hold up Congressional efforts to pass stablecoin legislation by restricting banks’ actions.
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Leading Republican House Financial Services Committee members have voiced deep concerns over recent actions taken by the Federal Reserve Board (Fed) that they believe undermine the progress made by Congress in establishing a regulatory framework for payment stablecoin.
2023-8-29 04:00 | |
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Coinspeaker Ripple CTO Schwartz Comments on Requirements Issued by Fed on Banks Transacting with PayPal Stablecoin David Schwartz seems unsurprised that the Fed is reacting negatively to the new stablecoin issued by PayPal.
2023-8-14 16:44 | |
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The Fed warned that a stablecoin crisis could wreak havoc on the global economy and outlined the steps issuers must take to protect the status quo.
2019-11-16 00:00 | |
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Stephen Moore, Trump’s initial nominee for the post of Federal Reserve Chairman and close campaign advisor, has announced his latest venture – Frax – that runs a U. S. dollar stablecoin.
2019-10-22 13:37 | |
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Stephen Moore, whose failed bid to join the Fed imploded within months, has a new plan to disrupt global finance: a fractional reserved-backed stablecoin.
2019-10-22 01:30 | |
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The former pick of President Donald Trump for the Federal Reserve (Fed), Stephen Moore, has recently affirmed that he will issue a new stablecoin, which is set to be backed by a fractional reserve. Moore is set to partner with Ralph Benko, a former deputy general counsel from the Reagan era, and with Sam Kazemian, […]
2019-10-22 23:52 | |
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The US Federal Reserve Governor Lael Brainard said yesterday that Facebook must overcome a “core of legal and regulatory challenges” before facilitating payments with its ‘cryptocurrency’ Libra.
2019-10-17 13:44 | |
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Last week, U.S. Senators Cynthia Lummis (R-Wyo.) and Kirsten Gillibrand (D-N.Y.) introduced a joint bill addressing how stablecoins could be regulated in the country. It's the latest effort to try and get something done in the U.S. legislative front – but is it enough?
The U.S. congressional effort to establish regulations for stablecoins has become an increasing longshot for passage this year, but the lawmakers who've pushed legislation the farthest reportedly had a meeting with Senate Majority Leader Chuck Schumer about it, Punchbowl News reported.
The Law Commission also called for evidence on its project on digital assets and electronic trade documents in private international law.
Despite keen interest from U.S. Senate Democrats such as Elizabeth Warren (D-Mass.) to deal with the illicit movement of funds in crypto, there's no immediate action planned in the committee that would need to get it rolling, according to two sources familiar with the plans.
Republican Rep. French Hill and Democrat Rep. Jim Himes see potential future floor votes for crypto bills being key to convincing the Democrat-controlled Senate to play ball.
Besides being short on crypto specialists, the SEC OIG noted a litany of problems that are already familiar — lack of legislative clarity, lack of interagency coordination, etc.
The new tokens join the ranks of BTC, ETH and LTC for use by the 4,000-plus companies located in the zone, which is considering new legal measures as well.