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Tag: Crypto regulation

US Senate Confirms Crypto-Friendly Nominees to Lead CFTC and FDIC

US Senate Confirms Crypto-Friendly Nominees to Lead CFTC and FDIC

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The US Senate voted 53-43 to confirm Mike Selig as chair of the Commodity Futures Trading Commission (CFTC) and Travis Hill as chair of the Federal Deposit Insurance Corp (FDIC). Both nominees, selected by President Donald Trump, are viewed as supportive of cryptocurrency, with Selig pledging to prioritize digital assets and Hill addressing debanking concerns. The appointments could enhance regulatory clarity for crypto, including...

Crypto regulation, Cryptocurrencies, Front page, News

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Federal Reserve Withdraws Restrictive 2023 Crypto Policy Enabling State Banks to Innovate

Federal Reserve Withdraws Restrictive 2023 Crypto Policy, Enabling State Banks to Innovate

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The Federal Reserve Board has withdrawn its 2023 policy statement that imposed strict limits on state member banks engaging in novel activities, including crypto-asset services. A new policy statement introduces case-by-case approvals for uninsured state banks, facilitating responsible innovation in the sector. This regulatory shift aligns with broader changes under the Trump administration, potentially easing access for...

Crypto regulation, Cryptocurrencies, Front page, News, Regulation

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PayPal Applies for Utah Industrial Bank Charter Amid Crypto Expansion Push

PayPal Applies for Utah Industrial Bank Charter Amid Crypto Expansion Push

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PayPal seeks bank status: The company has applied to create PayPal Bank in Utah to bolster small business lending and offer interest-bearing savings. Crypto angle: As issuer of PYUSD, the move could integrate stablecoin settlements into regulated banking. Regulatory context: Follows recent approvals for crypto firms like Circle and Paxos. PayPal Holdings has submitted applications to establish an industrial bank in Utah,...

Crypto regulation, Cryptocurrencies, Front page, News, Regulation

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US Teachers' Union Urges Senate to Withdraw Crypto Market Structure Bill Over Retirement Risks

US Teachers’ Union Urges Senate to Withdraw Crypto Market Structure Bill Over Retirement Risks

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The American Federation of Teachers (AFT) has called on the US Senate to abandon the Responsible Financial Innovation Act, citing significant risks to retirement security. The union argues the bill strips safeguards from crypto assets and weakens protections for traditional securities, allowing tokenized stocks to evade regulation. Sponsored by Senators Cynthia Lummis and Kirsten Gillibrand, the legislation seeks to establish a...

Crypto regulation, Cryptocurrencies, Front page, News, Regulation

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Brian Armstrong

Brian Armstrong Champions Crypto Clarity: Urging Swift Action on U.S. Regulation

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In a year marked by significant strides in cryptocurrency policy, Coinbase CEO Brian Armstrong has emerged as a vocal advocate for comprehensive regulatory frameworks. His recent statements highlight the urgency of passing market structure legislation, emphasizing how such measures could solidify America’s position as a global leader in digital assets. Progress in Stablecoin Legislation and Beyond Armstrong has celebrated the...

Crypto regulation, People in crypto, Regulation

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