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US Infra Bill Might Prompt Crypto Business Exodus, Treasury Has a Role Too
14.8.2021
If the controversial US infrastructure bill is passed in its current form, it may force crypto companies to leave the country as there's no way to comply with the new requirements. However, the industry would also depend on the US Treasury as this institution would need to put the vague language...
Nancy Pelosi Urged to Amend ‘Harmful’ Cryptocurrency Provision in Infrastructure Bill
13.8.2021
U.S. Representative Anna Eshoo has asked House Speaker Nancy Pelosi to amend the crypto provision in the $1.2 trillion infrastructure bill that the Senate passed this week. She urged the House to adopt the bipartisan amendment supported by the Treasury Department that provides a solution. Rep....
Nasdaq-Listed Metromile Invests $1 Million in Bitcoin — Sees Rapid Growth in Global Cryptocurrency Adoption
12.8.2021
The Nasdaq-listed auto insurance company Metromile has purchased $1 million in bitcoin. The company plans to “become the first insurance company to allow policyholders the option to pay for insurance and receive payment for eligible claims in either bitcoin or dollars.” Auto Insurance...
Circle Intends to Become a Full-Reserve National Commercial Bank
11.8.2021
Circle, a cryptocurrency fintech services company, announced it intends to become a full-reserve national commercial bank. This would bring a set of responsibilities and duties to the company equal to those of other mainstream banks: having to report to the Federal Reserve, U.S. Treasury, OCC,...
US Senators and Treasury Reach Agreement on Crypto Requirements in Infrastructure Bill
9.8.2021
Five U.S. senators have been working with the Treasury Department and have come up with a compromise crypto amendment to the $1.2 trillion infrastructure bill. “We’ve worked with the Treasury Department to clarify the underlying text and ensure that those who are not acting as brokers...
US Senator Urges Congress to Stop Treasury From Picking Winners and Losers in Crypto
7.8.2021
U.S. Senator Pat Toomey has called on Congress to stop the Treasury Department from maximizing its ability to regulate and tax crypto by picking winners and losers. “Congress should not allow that to happen,” he said. US Senator Urges Lawmakers Not to Crush Crypto Innovation Following...
Treasury Secretary Yellen Privately Lobbies Against Tax Amendment Crypto Industry Wants: Report
7.8.2021
U.S. Treasury Secretary Janet Yellen has reportedly raised objections to lawmakers about the cryptocurrency tax amendment to the $1 trillion infrastructure bill that is supported by the crypto community. The White House subsequently announced its support for a competing amendment. Yellen Exerting...
Treasury Secretary reportedly against amending crypto language in infrastructure bill
6.8.2021
Janet Yellen's position on a "compromise" amendment proposed yesterday is unclear, but she reportedly raised objections to the language on crypto put forth by Senators Wyden, Lummis, and Toomey
Multi-Billion Dollar Hedge Fund Goldentree Is Reportedly Adding Bitcoin to Its Balance Sheet
1.8.2021
The hedge fund Goldentree, a firm with $41 billion in assets under management (AUM) has reportedly added the leading crypto asset bitcoin to its balance sheet. Unnamed sources detail that the American asset management firm leveraged bitcoin to diversify from traditional debt investment strategies....
New bill proposes US Treasury to have full authority over fiat stablecoins
30.7.2021
The bill also calls for the Federal Reserve to be vested with the clear authority to issue a digital dollar
Senator Warren Urges Treasury Secretary Yellen to Urgently Adopt Policy to Mitigate Cryptocurrencies’ Risks
28.7.2021
U.S. Senator Elizabeth Warren has asked Treasury Secretary Janet Yellen to “act with urgency” and adopt an appropriate policy to address the risks posed by cryptocurrencies. “The longer that the United States waits to adapt the proper regulatory regime for these assets, the more...
Sen. Warren urges Treasury Secretary Yellen to combat rising crypto threats
27.7.2021
Elizabeth Warren outlined her concerns about the cryptocurrency market in a letter addressed to Janet Yellen that was obtained by CNBC
Fed Faces Double Inflation as Supply Chain Falters, Economists Question Spending, Biden ‘Not Worried’
26.7.2021
Reports show a vast majority of the American populace has been worried about rising inflation and as the weeks roll by, the financial situation continues to look grim. US Senator: ‘There’s No Justification for the Fed to Maintain Its Purchases’ A few analysts believe the upcoming...
Treasury Secretary Yellen Asks US Regulators Overseeing Crypto Assets to ‘Act Quickly’ to Regulate Stablecoins
21.7.2021
U.S. Treasury Secretary Janet Yellen has asked the regulators overseeing crypto assets to “act quickly to ensure there is an appropriate U.S. regulatory framework in place” for stablecoins. U.S. Department of the Treasury’s Office of Public Affairs announced Monday the outcome...
Treasury secretary Yellen urges lawmakers to quickly introduce stablecoin guidelines
20.7.2021
The President’s Working Group on Financial Markets expects to deliver regulatory recommendations for stablecoins in the coming months
US Treasury Secretary Yellen Outlines Plans to Regulate Stablecoins in Collaboration With the Fed, SEC, CFTC
17.7.2021
U.S. Treasury Secretary Janet Yellen will convene a meeting with the Biden administration’s working group on financial markets to discuss stablecoin regulation. “In light of the rapid growth in digital assets, it is important for the agencies to collaborate on the regulation of this...
Former US Treasury Secretary Mnuchin Says His View on Bitcoin ‘Has Evolved’
16.7.2021
Former U.S. Treasury Secretary Steven Mnuchin says his viewpoint on bitcoin “has evolved a little bit.” While he personally does not want to have bitcoin in his portfolio, he says if people want to buy the cryptocurrency, “that’s perfectly fine.” Mnuchin Says...
'It's fine' to buy Bitcoin as gold substitute, says Trump ex-Treasury Secretary Mnuchin
15.7.2021
What seems to be a full reversal on a previously hostile Bitcoin stance is tempered by Mnuchin, who added that he still wouldn't be buying BTC himself
Allied Payment Network Embeds Bitcoin Service, Will Hold BTC in Corporate Treasury
7.7.2021
Payment service provider Allied Payment Network has partnered with New York Digital Investment Group, the bitcoin subsidiary of $10 billion asset manager Stone Ridge. Financial institutions using Allied’s platform will be able to offer their customers the option to buy, sell, and hold...
FinCEN Names Misuse of Cryptocurrencies a National Priority
4.7.2021
The Financial Crimes Enforcement Network (FinCEN) has named “cybercrime, including relevant cybersecurity and virtual currency considerations” a national priority. In particular, the Treasury is concerned about the “misuse of virtual assets that exploits and undermines their...