US stablecoin bills might someday pass, but not this one
Stablecoins were front and center in the House of Representatives' Financial Services Committee hearing last Wednesday, and some of the opinions voiced were more than a little unstable.
Latest regulation News
NYDFS to charge digital asset firms for supervision
First proposed in December, the new regulation was adopted this week and allows the New York Department of Financial Services to charge BitLicense holders for supervision—a practice common in finance.
EU lawmakers want Europe, US to regulate ‘very powerful AI’
Members of the European Union Parliament want the EU Commission and President Joe Biden to lead the development of governance models for AI, as Google CEO and Musk shoot AI warnings.
Republicans to SEC’s Gensler: Leave ‘crypto’ alone!
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.
US bipartisan stablecoin bill could spell doom for Tether
The draft bill states a two-year interval on issuing stablecoins and access to central bank borrowing and deposit accounts but made no mention of appropriate audits on proper backing of reserves.
UN Cybercrime Treaty could lead to increased surveillance of ‘crypto’ industry worldwide
The new treaty on cybercrime comes at the back of rising illegal digital asset transactions through anonymity, allowing perpetrators to initiate illicit activities that endanger asset players.
Montana passes ‘right to mine’ bill to protect miners
The bill sailed through the Montana Senate and House and now sits at the governor’s desk to be signed into law; meanwhile, Arkansas governor vetoed a similar bill.
Arizona governor vetoes bill offering tax reprieve for miners
Governor Katie Hobbs vetoed the bill on the eve of her first 100 days in office, saying it prevents local policymaking through a broad definition of blockchain.
Zambia’s digital asset regulation tests to end in June
ICT Minister Felix Mutati says the country is concluding tests that stimulate real-world digital asset use as a first step toward developing Bitcoin regulations.
Chinese regulators plot tighter controls for AI services amid rising interest
The latest AI regulations include the need for service providers to ensure their content is in line with IP laws and should undergo a security assessment before being released to the public.
India G20 presidency wants common digital currency regulation, Nirmala Sitharaman says
The Finance Minister stated that with a global outlook on digital currencies, bad actors could not profit from regulatory arbitrage and would provide a blueprint for policing the sector.
IMF reminds policymakers of need for tighter digital currency regulations
The IMF insists that stringent laws and heightened monitoring of the digital asset market are crucial to prevent the recurrence of the implosions that rocked the global financial ecosystem in 2022.