Tag: Regulation

Congresswoman Maxine Waters sent a letter on March 26, 2026, to Federal Reserve Bank of Kansas City President Jeff Schmid inquiring about Kraken Financial’s master account approval. The letter seeks details on the account’s access to Fed services, risk controls, and whether enhanced oversight was applied beyond Wyoming SPDI requirements. The approval, granted March 4 for an initial one-year term, marks the first such access for a...

Departure details: Sacks concluded his tenure on March 26, 2026, after serving the maximum 130 days as a special government employee. New position: Co-chair of the President’s Council of Advisors on Science and Technology (PCAST), expanding his advisory scope to broader technology issues including AI. Legislation status: Market-structure bill (Clarity Act) and stablecoin regulation still pending; Senate Banking Committee markup now...

Delaware lawmakers introduced Senate Bill 19, the Delaware Payment Stablecoins Act, creating a licensing regime for payment stablecoin issuers and digital asset service providers targeting state residents. The bill mandates 1:1 reserves backed by cash, bank deposits, and short-term U.S. Treasurys, plus monthly reserve reports and prompt redemptions. It prohibits interest payments on stablecoins unless allowed under federal law and...

SEC and CFTC signed MOU on March 11, 2026, to guide collaboration on financial regulation. Agreement targets harmonization to end duplicative rules and support innovation. Specific priority: Fit-for-purpose regulatory framework for crypto assets. Launches Joint Harmonization Initiative for policy, oversight, and enforcement. The U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission have...