Crypto Regulations
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Cryptocurrency
What Lies Ahead: Can Gensler Utilize His ‘Lame Duck’ Phase to Resolve Pending Matters?
The recent announcement by President-elect Trump regarding Paul Atkins’ appointment as the new Chair of the Securities and Exchange Commission (SEC) has sparked considerable interest across the financial and tech sectors. Succeeding Gary Gensler, who will step down in January, Atkins is expected to introduce a more crypto-friendly approach to the SEC’s regulatory agenda. A New Era for Cryptocurrency Regulation? Many industry insiders are anticipating significant shifts in how the…
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Cryptocurrency
Former Fed President Bill Dudley Opposes 2024 Bitcoin Legislation
In recent discussions surrounding the future of cryptocurrency, Bill Dudley, the former president of the Federal Reserve Bank of New York and current chair of the Bretton Woods Committee, has voiced strong opposition to the notion of Bitcoin (BTC) becoming a government reserve currency. In a thought-provoking op-ed published on December 6 by Bloomberg, Dudley articulated his stance, contending that this idea offers minimal benefits and mainly serves the interests…
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Cryptocurrency
Former Fed Chief Bill Dudley Opposes 2024 Bitcoin Legislation
Bill Dudley, the former president of the Federal Reserve Bank of New York and the current chair of the Bretton Woods Committee, has taken a firm stance against the notion of Bitcoin (BTC) serving as a government reserve currency. In his op-ed published by Bloomberg on December 6th, Dudley argued that adopting Bitcoin as a reserve currency holds no substantial benefits for governments and primarily serves the interests of existing…
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Cryptocurrency
Gary Gensler’s US Crypto Regulation Agenda Sees a Victory?
The Senate Banking Committee is preparing for a pivotal vote scheduled for next Wednesday, which will play a significant role in determining the future of Caroline Crenshaw, a Democratic commissioner at the Securities and Exchange Commission (SEC). The approval of Crenshaw’s reappointment will extend her tenure on the commission until 2029, allowing her to continue her strong support for SEC Chair Gary Gensler’s regulatory approach. Caroline Crenshaw: A Key Ally…
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Cryptocurrency
Gary Gensler’s US Crypto Regulation Agenda Achieves a Milestone?
The Senate Banking Committee is poised for a significant decision next Wednesday that could shape the future landscape of financial regulation in the United States. At the center of this decision is Caroline Crenshaw, a Democrat and one of the five commissioners at the Securities and Exchange Commission (SEC). Should the committee approve her reappointment, Crenshaw will continue her tenure on the commission until 2029, reinforcing her alliance with SEC…
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Cryptocurrency
Court Documents Show FDIC Requested Banks to Temporarily Halt Crypto-Asset Activities
Amidst growing concerns over regulatory transparency, notable developments have emerged in the crypto industry. Eleanor Terrett, a journalist with FOX Business, recently shed light on the ongoing challenges faced by Coinbase as they strive for open communication with federal authorities. The release of 23 “pause letters” by Coinbase, obtained through legal action against the Federal Deposit Insurance Corporation (FDIC), has reignited discussions surrounding what has been termed “Operation Chokepoint 2.0.”…
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Cryptocurrency
Court Documents Reveal FDIC’s Request for Banks to Halt Crypto-Asset Activities
Introduction to Operation Chokepoint 2.0 In a significant move, Coinbase recently revealed a series of 23 “pause letters” received from the Federal Deposit Insurance Corporation (FDIC). This disclosure follows legal action taken by Coinbase to obtain documents related to what the cryptocurrency sector refers to as “Operation Chokepoint 2.0.” The Concept of Operation Chokepoint 2.0 The term “Operation Chokepoint 2.0” is employed by many within the crypto industry to describe…
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Cryptocurrency
Ex-NY Fed Chief Warns Bitcoin Might Weaken USD, Urges Focus on Regulation Framework
Bitcoin has recently skyrocketed beyond the $100,000 mark, a milestone that coincides with Donald Trump’s recent election victory. This remarkable surge in cryptocurrency value has sparked widespread discussion within the crypto community, as investors and analysts speculate on the potential for a pro-crypto administration under Trump’s leadership. Enthusiasts are optimistic that Trump’s presidency might herald a strategic Bitcoin reserve for the United States, potentially serving as a hedge against inflation…
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Cryptocurrency
Ex-NY Fed Leader Warns Bitcoin May Threaten USD, Urges Focus on Regulatory Framework
Bitcoin has recently made headlines by surging past the $100,000 mark following Donald Trump’s election victory. As the broader market reacts to this development, the cryptocurrency community is optimistic that the Trump administration will adopt a pro-crypto stance. This optimism stems from Trump’s campaign promise to establish a strategic Bitcoin reserve for the United States. Many advocates argue that such a reserve could serve as a hedge against inflation and…
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Cryptocurrency
Atkins Decides to Pursue Ripple Case, SEC’s Battle with XRP Proceeds
As the landscape of cryptocurrency regulation continues to evolve, a significant change is on the horizon for the U.S. Securities and Exchange Commission (SEC). Gary Gensler, the agency’s current head who has sparked considerable debate among crypto enthusiasts, is set to vacate his position on January 20, 2025. This decision comes merely days before a pivotal moment in the SEC’s ongoing legal confrontation with Ripple, scheduled for January 25, 2025.…
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