U.S. Fed Chair Jerome Powell insists he's not plotting to unleash a CBDC, while a new study says concerns about BTC and other digital currency tokens ever serving as global currency are overblown.
The House of Representatives Financial Services Committee held its annual hearing of the Treasury's FinCEN and the Office of Terrorism and Financial Intelligence, looking at terrorism-related financing with some talks on digital assets.
US Treasury plans to release its 2024 National Strategy for Combatting Terrorist and Other Illicit Finance, which will be based on the 2024 National Risk Assessments.
House Financial Services Chair McHenry reiterates commitment to stablecoin regulation amid shutdown threat, highlighting bipartisan support for 2023's Clarity for Payment Stablecoins Act.
SEC Chair Gary Gensler attended a House hearing, where he was slammed for "choking off" the digital asset sector, quizzed about BTC, spot ETPs, and ongoing court cases against exchanges.
The U.S. House of Representatives Financial Services Committee advanced two bills that could now be sent to the House floor for a full vote: the HR4766 and HR4841.
Signatories of the DAMS Draft bill argue that the proposed legislation would slash regulatory oversight of the highly volatile digital asset market, thereby weakening investor and consumer protection.
The bill will clip the SEC’s authority over digital assets, with the CFTC taking a more prominent role, including jurisdiction over ‘crypto’ spot markets.
The new bill aims to carve out clearly defined roles for both the CFTC and the SEC and stop the fight between these two agencies on who takes the lead in regulating digital assets.
Republican lawmakers have revealed a proposed digital asset bill that intends to clarify the responsibilities of the SEC and the CFTC in regulating the digital asset industry.
The hearing is part of renewed attempts by lawmakers to reach a consensus on a bill that would address stablecoin regulation after earlier attempts broke down.
Gary Gensler took a jab from Rep. Patrick McHenry after claiming that the 'crypto' market is noncompliant with the law, with the latter saying that the SEC hasn't even clarified the statute of digital assets.
