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” Regulators and industry leaders react to Biden‘s executive order on crypto “ Joe Biden has signed his 82nd executive order since being sworn into office in January 2021, directly addressing a regulatory framework for digital assets in a rare moment for the U.S. president. In a Wednesday announcement, the White House said President Biden’s…
” Federal Reserve works with China’s blockchain ally for instant payments “ The United States Federal Reserve is moving forward with its real-time payment project FedNow Service by starting experimenting with the blockchain infrastructure. On Tuesday, the Fed officially launched the FedNow Service Provider Showcase, aiming to provide financial institutions and users with a range…
” FinCEN includes crypto in alert on Russia potentially evading sanctions “ The United States Financial Crimes Enforcement Network, or FinCEN, a bureau of the Treasury Department, has warned financial institutions to consider crypto as a possible means Russia may attempt to use to evade sanctions related to the country’s military action in Ukraine. In…
” US Virginia Senate allows state banks to offer crypto custody services “ The Senate of Virginia in the United States unanimously approved a bill amendment request that now allows traditional banks operating in the Commonwealth of Virginia to provide virtual currency custody services. Delegate Christopher T. Head introduced the bill (House Bill No. 263)…
“# US lawmakers and Fed chair push for crypto regulation in wake of Russia sanctions ” Federal Reserve Chair Pro Tempore Jerome Powell and some members of the U.S. House of Representatives called for congressional action on crypto in response to discussions about Russia potentially evading sanctions. In a Wednesday hearing of the House Financial…
“# Crypto dealer SFOX gets trust charter approval from Wyoming regulators ” The State of Wyoming has approved California-based crypto broker SFOX for a trust charter, allowing the firm to provide custodial and other crypto-related services to institutional clients. In a Tuesday announcement, SFOX said the Wyoming trust charter will allow the firm to operate…
“# SEC unable to locate BitConnect founder convicted in $2.4B fraud case ” Indicted by the United States Department of Justice in a $2.4 billion Ponzi scheme, BitConnect founder Satish Kumbhani remains untraced following conviction. In a court filing on Monday, the Securities and Exchange Commission said that the whereabouts of Kumbhani remains unknown. The SEC…
“# US Treasury Dept lists digital currencies as part of effort to sanction Russia’s government ” The Treasury Department and reportedly the White House are warning U.S.-based companies and individuals not to facilitate crypto transactions sent to certain Russian nationals and banks. According to regulations from the Treasury Department’s Office of Foreign Assets Control scheduled…
“# Crypto firms may still face SEC penalties for self-reporting securities laws violations: Report ” The U.S. Securities and Exchange Commission’s enforcement director has reportedly said cryptocurrency companies will not receive amnesty for reporting themselves for possible violations of securities laws. According to a Monday report from Reuters, the SEC director of the agency’s division…
“# Are crypto and blockchain safe for kids, or should greater measures be put in place? ” Crypto is going mainstream, and the world’s younger generation, in particular, is taking note. Cryptocurrency exchange Crypto.com recently predicted that crypto users worldwide could reach 1 billion by the end of 2022. Further findings show that Millennials —…