Cointelegraph By Derek Andersen
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Fed governor explains who needs crypto regulation and why demand for it is growing
Cointelegraph By Derek Andersen - 0
Regulation is needed to open the crypto ecosystem to a larger public, United States Federal Reserve Board Governor Christopher Waller told an audience at the SNB-CIF Conference on Cryptoassets and Financial Innovation in Zurich, Switzerland. Financial intermediaries can help manage risk for new crypto users, but cannot eliminate...
401(k) provider ForUsAll sues US Labor Dept over anti-crypto compliance release
Cointelegraph By Derek Andersen - 0
ForUsAll, a 401(k) retirement provider, filed suit against the United States Department of Labor (DOL) and Martin Walsh as Labor secretary in U.S. District Court in Washington, D.C. on Thursday. The company is seeking the withdrawal of a DOL compliance assistance release issued in March, citing the Administrative...
CFTC sues Gemini claiming the crypto exchange lied in futures contract evaluation
Cointelegraph By Derek Andersen - 0
The United States Commodity Futures Trading Commission (CFTC) filed suit against Gemini Trust Co. in the U.S. Southern District Court of New York on Thursday. The CFTC claimed in the civil suit that Gemini made false or misleading statements to the CFTC in 2017 during in-person meetings and...
NY Fed president urges colleagues to prepare for coming digital payment transformation
Cointelegraph By Derek Andersen - 0
Get ready for a fundamental change in money and payments, John Williams, president and CEO of the Federal Reserve Bank of New York, told central bank officials, academics and financial industry leaders from around the world on Wednesday. Williams delivered the opening remarks at an invitation-only workshop on...
Basel Committee presses on with restrictive requirements for banks’ crypto holdings
Cointelegraph By Derek Andersen - 0
The Basel Committee on Banking Supervision met Friday and discussed cryptocurrency, among other topics. The committee stated that it would soon publish its second consultative paper with the intention of finalizing guidelines on the prudential treatment of crypto exposure by banks by year-end. In a Tuesday press release, the...
On Tuesday, the United States Federal Reserve released a study on the possible effects of a retail central bank digital currency (CBDC) on U.S. monetary policy implementation. The study, dated April, was a staff working paper titled “Retail CBDC and U.S. Monetary Policy Implementation: A Stylized Balance Sheet...
Russian central bank signals agreement with crypto law revisions: Report
Cointelegraph By Derek Andersen - 0
First deputy governor of the Russian central bank Ksenia Yudayeva stated Tuesday that the bank is open to using cryptocurrency for international payments, Reuters reported, along with Russian media, which added that the bank was reconsidering its position on crypto mining as well. Yudaeva was quoted as saying:“We...
MoneyGram to open transfer platform with Stellar, eyes wallet deal in El Salvador
Cointelegraph By Derek Andersen - 0
MoneyGram International, one of the world’s largest cross-border transfer services, is partnering with the Stellar blockchain to create a stablecoin-based platform for money transfers. The new service will allow Stellar wallet users to send Circle’s USD Coin (USDC) to recipients, who will be able to cash them out...
Ripple (XRP) has announced a $100 million investment in the carbon trading segment, CEO Brad Garlinghouse told Cointelegraph’s Joseph Hall in an interview on the sidelines of the World Economic Forum (WEF) Annual Meeting, which concluded on Thursday. Garlinghouse noted the rising profile of cryptocurrency at the international summit,...
New SEC guidance on accounting and disclosures rankles Commissioner Peirce
Cointelegraph By Derek Andersen - 0
U.S. companies that safeguard their clients’ crypto-assets received new accounting guidance Thursday in the form of a Securities and Exchange Commission, or SEC, Staff Accounting Bulletin. The guidance got a strong response from SEC commissioner Hester Peirce, a steadfast crypto advocate.Staff Accounting Bulletin 121 noted the high technological,...