Fall is traditionally the open season for United States financial regulators. The thicket of news coming out of Capitol Hill, federal courts and various regulatory agencies can feel overwhelming around this time, especially for those of us residing outside of these venerable institutions’ purview. It is also clear that the outcomes of these legal battles will have tremendous effects on crypto markets, adoption and, generally, the relationship between state power and the industry worldwide. But that is not the only reason for anyone interested in how the old world adapts to digital finance to follow U.S. developments closely. Gensler of …
After weeks of delays due, in part, to partisan obstructionism, the United States Senate has confirmed the nomination of Lael Brainard, a member of the Federal Reserve's board of governors, as the next vice chair of the central bank. In a 52–43 vote on the Senate floor on Tuesday, U.S. lawmakers confirmed Brainard a vice chair of the Federal Reserve for four years, potentially beyond her term as a governor ending in January 2026. Brainard was one of four nominees waiting for approval since Republican lawmakers in the Senate Banking Committee boycotted a February committee, which would have sent the …
Cryptocurrency exchange Coinbase has created a “crypto native think tank” in an attempt to help shape the global conversation around policies for digital assets. The newly formed Coinbase Institute will also publish research on crypto and Web3. Coinbase tapped its director of policy Hermine Wong to head the institute. She previously served in the Division of Economic and Risk Analysis at the United States Securities and Exchange Commission (SEC) and before that worked at the Department of State. The related Coinbase Institute Advisory Board has also been formed and will feature academics across law and finance from top universities such …
In the middle of crypto’s latest bear market, industry and asset class detractors have rallied together to share their skepticism and network with lawmakers at their own anti-crypto conference. Whereas most crypto conferences exist to promote the latest developments on the cutting edge of the industry, crypto critic journalist Amy Castor said in her Sunday blog post that the Crypto Policy Symposium promises a way for disgruntled nay-sayers to voice their negativity. Crypto skeptics step up lobbying efforts with their first conference – Amy Castor https://t.co/DdUjSfFPIQ — your #1 source for absurdist true crime (@davidgerard) July 3, 2022 Author and …
The United States Securities and Exchange Commission, or SEC, and the Commodity Futures Trading Commission, or CFTC, has proposed requiring large advisers to certain hedge funds to report any exposure to digital assets. In a Wednesday notice, the SEC and CFTC proposed amending their confidential reporting form for certain investment advisers to private funds of at least $500 million. The Form PR would require qualifying hedge funds to not include exposure to cryptocurrencies when reporting “cash and cash equivalents,” but rather add them under a different category “to report digital asset strategies accurately.” The two U.S. financial regulators cited the …