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“# Reuters: Gary Gensler, MIT blockchain professor and Obama’s CFTC chair, to head Biden SEC ” President-elect Biden has finally decided on his nominee to head the Securities and Exchange Commission. At least according to Reuters’ anonymous sourcing in a Tuesday report, Gary Gensler will be Biden’s nominee as SEC Chair. During the Obama administration,…
“# OCC’s Brian Brooks thinks that DeFi can root out bias and fraud in traditional banking ” In an opinion piece published in the Financial Times on Tuesday, Acting Comptroller of the Currency Brian Brooks put forward the need to reconfigure banking regulations for an age of algorithms. Brooks, who currently leads the Treasury’s Office…
“# Hedera Hashgraph presents e-Apostille PoC to Texas Secretary of State ” Enterprise blockchain platform Hedera Hashgraph has presented a proof-of-concept, or PoC, to the Texas Secretary of State, showing the potential of blockchain technology to issue, secure and verify documents. The PoC was a collaboration with content services provider, Hyland, and was spearheaded by…
“# Kenyan crypto firms on notice as digital tax law takes effect ” Kenya’s planned Digital Service Tax, or DST, came into effect at the start of 2021. The DST is part of the country’s 2020 revamped Finance Act that focused on the digital services market among other sectors. Based on the provisions of the…
“# Following Brexit, the UK asks crypto industry about rules for cross-border stablecoins ” Her Majesty’s Treasury requests and requires the crypto industry’s input on prospective regulation. In a Jan. 7 announcement of open consultation, the United Kingdom’s finance policy department is asking the crypto community to weigh in on a series of proposals: “The government…
“# FinCEN’s wallet rule is open for another day of comments because ‘government officials can’t count to 15’ ” The United States Treasury Department may have accidentally widened the window of opportunity for anyone wishing to submit comments regarding the Financial Crimes Enforcement Network’s new crypto rules. Last month, the Financial Crimes Enforcement Network, or…
“#GitHub is back in action in Iran again after months” In a win for developers in Iran, code collaboration platform GitHub said today that it’s opening up its services for the country again after several months. In July 2019, the Microsoft-owned service blocked access for users in the country due to trade restrictions imposed by the…
“# States sue the OCC and Brian Brooks for overriding their controls on predatory lending ” Eight states and the District of Columbia are suing the national bank regulator over a rule change that just came into effect. Per a Jan. 5 filing, New York’s attorney general is leading the charge against the Office of…
“# OCC greenlights national banks to run nodes and stablecoin networks ” Monday evening, the Treasury’s Office of the Comptroller of the Currency told national banks that they are allowed to run independent nodes for distributed ledger networks. Referring to of independent node verification networks, the OCC’s interpretive letter says that banks “may use new…
“# With 6 hours left, Treasury logs almost 6000 comments on crypto monitoring proposal ” Despite many objections to the truncated timeframe, public comments are due tonight in response to the U.S. Treasury’s proposal to require businesses like crypto exchanges to know the identities behind wallets with which they transact. As of Sunday night, the…