Latest News
By Federal Newswire Report | Apr 19, 2023
Rep. Warren Davidson (R-Ohio) is behind a new bill that would put end to U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler’s position after the agency’s plan to possibly redefine what an “exchange” means in terms of cryptocurrency.
By Federal Newswire Report | Apr 10, 2023
Brandon Possin, a foreign service officer with the U.S. Embassy in Tokyo who has formerly worked as a blockchain business strategist, wrote in an opinion piece for Politico that the U.S. government's attitude toward blockchain technology is putting the country at risk of falling behind in a global technology revolution, while China is charging full speed ahead.
By Federal Newswire Report | Apr 4, 2023
Richie Lai, the co-founder and CEO of Bittrex, a Seattle-based cryptocurrency exchange, announced March 31 that due to the regulatory and economic climate in the U.S., the company is shutting down its domestic operations.
By Juliette Fairley | Apr 4, 2023
The U.S. Commodity Futures Trading Commission (CFTC) commissioner, who authored the "Ten Fundamentals for Responsible Digital Asset Markets", is currently developing best practices and industry standards.
By Juliette Fairley | Apr 3, 2023
When Tom Emmer (R-Minn.) joined Congress nearly nine years ago, a staffer gave him a book about the promise of blockchain and crypto in restoring financial control to the individual.
By Federal Newswire Report | Mar 31, 2023
A newly unsealed superseding indictment signed by U.S. Attorney Damian Williams of the Southern District of New York and Assistant Attorney General Kenneth Polite alleges that Sam Bankman-Fried, the founder and former CEO of the now bankrupt cryptocurrency exchange FTX, bribed at least one Chinese government official with tens of millions of dollars in an attempt to persuade the Chinese government to unfreeze accounts associated with Alameda Research, FTX's hedge fund sister company. This new charge brings the total number of Bankman-Fried's criminal charges up to 13.
By Federal Newswire Report | Mar 30, 2023
Earlier this month, U.S. Senators Elizabeth Warren (D-MA), Chris Van Hollen (D-MD), and Roger Marshall (R-KS) sent a letter to Binance, the world's largest crypto exchange, accusing it of attempting to avoid laws and regulations.
By Juliette Fairley | Mar 30, 2023
The Chamber of Digital Commerce hosted its annual D.C. Blockchain Summit March 21 in Washington, D.C., which included the participation of three GOP congressmen.
By Juliette Fairley | Mar 28, 2023
The importance of innovation in the blockchain and cryptocurrency space must be balanced with public safety and financial stability, according to a group of government officials who spoke at the 2023 D.C. Blockchain Summit this week.
By Federal Newswire Report | Mar 27, 2023
Rep. French Hill at the 2023 Blockchain Summit
By Karen Kidd | Mar 27, 2023
Florida Gov. Ron DeSantis is against a potential Federal Reserve launch of a central bank digital currency and he's doing something about it, according to a news release issued by his office earlier this week
By Federal Newswire Report | Mar 27, 2023
This year's Economic Report of the President highlighted the risks of cryptocurrency and dismissed its benefits.
By Federal Newswire Report | Mar 27, 2023
Crypto exchange company Coinbase has repeatedly asked the U.S. Securities and Exchange Commission (SEC) for regulatory clarity, but the requests have gone unanswered, and the SEC has now sent the company a "Wells notice" warning of possible enforcement action, said Paul Grewal, Coinbase chief legal counsel.
By Juliette Fairley | Mar 23, 2023
Two U.S. Commodity Futures Trading Commission (CFTC) appointees, who were featured speakers at the D.C. Blockchain Summit this week, want the SEC and CFTC to create a framework that would classify digital assets.
By Federal Newswire Report | Mar 23, 2023
Kevin Werbach, the chairperson of legal studies and business ethics at the University of Pennsylvania's Wharton School, said that as the U.S. irons out necessary digital asset regulations, it should make a distinction between stablecoin issuers that are based in the U.S. and those that are not, and should also take into consideration which companies have been pro-compliance and those that have not. While some analysts have expressed concerns that regulatory crackdowns in the U.S. could push innovation overseas, Werbach told the Federal Newswire that he does not believe that will necessarily be the case.
By Federal Newswire Report | Mar 23, 2023
A cryptocurrency mixer that processed over $3 billion in illegal transactions on the darknet has been taken down and its Vietnamese operator charged with money laundering.
By Federal Newswire Report | Mar 22, 2023
While some digital asset analysts have voiced concerns that the actions the U.S. Securities and Exchange Commission (SEC) has taken against stablecoins could push innovation out of the U.S. into other countries, two economists told the Federal Newswire that they don't share those concerns. Steve H. Hanke, a professor of applied economics at Johns Hopkins University, and Matt Sekerke, a fellow at the Johns Hopkins Institute for Applied Economics, Global Health and the Study of Business Enterprise, said they believe stablecoin issuers will not leave the U.S. because they benefit from access to the U.S. dollar and financial institutions.
By Federal Newswire Report | Mar 20, 2023
Some experts have expressed concern that U.S. actions targeting stablecoins could threaten the U.S. dollar's (USD) global prominence, but Benn Steil, a senior fellow and the director of international economics at the Council on Foreign Relations, told the Federal Newswire that he believes the USD will not be weakened by stablecoins pegged to other currencies.
By Federal Newswire Report | Mar 16, 2023
The U.S. Securities and Exchange Commission (SEC) has stepped up its enforcement actions in the cryptocurrency industry after the November bankruptcy filing of crypto exchange FTX and has recently begun targeting stablecoins, sparking concerns that the industry could shift away from the U.S. dollar and peg itself to a different country's currency.
By Federal Newswire Report | Mar 10, 2023
While lawmakers were discussing Twitter during a House Judiciary Select Subcommittee hearing on the weaponization of the federal government, Rep. Stacey Plaskett (D-U.S. Virgin Islands) alluded to Changpeng Zhao (CZ), the CEO of Binance, the largest crypto exchange in the world, who also owns a stake in Twitter. Plaskett said that although CZ is a Canadian citizen, he is a “Chinese national.” Crypto influencer and analyst Chris Blec and CZ himself said on Twitter that Plaskett's comments implied racism and discrimination.
