U.S. Treasury encourages new laws to address crypto regulation gaps

Oct 3 (Reuters) - The Financial Stability Oversight Council (FSOC), a U.S. regulatory panel comprising top financial regulators, on Monday recommended that Congress pass legislation addressing risks digital assets pose to the financial system, including bills to bolster oversight of crypto spot markets and stablecoins.In a report following U.S. President...

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Biden regulators cheer on crypto crackdown

The Biden administration on Monday laid out its most comprehensive analysis of the risks posed by cryptocurrency to financial stability, urging regulators and Congress to continue to bring enforcement cases against unlawful...

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US Senator Introduces ‘No Digital Dollar Act’ to Prohibit Treasury and the Fed From Interfering With Americans Using Paper Currency – Regulation Bitcoin News

A U.S senator has introduced the “No Digital Dollar Act to prohibit the U.S. Treasury and the Federal Reserve from interfering with Americans using paper currency” if a central bank digital currency is adopted. The bill further states: “No central bank digital currency shall be considered legal tender under section...

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We Have to Rely on 70-Year-Old Case Law to Determine What’s a Security or Commodity – Regulation Bitcoin News

The chairman of the Commodity Futures Trading Commission (CFTC) says his agency and the Securities and Exchange Commission (SEC) “have to rely on 70-year-old case law to determine what’s a security or a commodity.” He stressed that the SEC and CFTC are working together to regulate the crypto space, noting...

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SEC Charges 2 Firms and 4 Individuals in Crypto Pump-and-Dump Scheme – Regulation Bitcoin News

The U.S. Securities and Exchange Commission (SEC) has taken action against two firms and four individuals allegedly perpetrating a crypto pump-and-dump scheme. “Although this case involves crypto assets, it bears the hallmarks of a classic pump and dump scheme,” said the SEC. SEC Charges 2 Firms in Crypto Pump-and-Dump Case The U.S....

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India Freezes More Crypto Including Bitcoin and Tether as Investigation Involving Binance and Wazirx Deepens – Regulation Bitcoin News

India’s Directorate of Enforcement (ED) says it has frozen more cryptocurrencies, including bitcoin, tether, and the Wazirx token. The action is part of its investigation of the mobile gaming app E-nuggets. In its latest announcement, the ED revealed that nearly 86 bitcoins found at crypto exchange Binance were frozen. Indian Authority...

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Uzbekistan Introduces Monthly Fees for Cryptocurrency Companies – Regulation Bitcoin News

Crypto firms in Uzbekistan will have to pay fees to the state under new legislation proposed by regulators. The charges vary depending on the business activity and can reach $11,000 a month in the case of digital asset exchanges. Failure to pay will result in license suspension. Crypto Operators in Uzbekistan...

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More Than a Half Dozen US Securities Regulators File Actions Against Crypto Lender Nexo – Regulation Bitcoin News

Crypto lender Nexo is having issues with state authorities from California, New York, Washington, Kentucky, Vermont, South Carolina, and Maryland. The enforcement actions from multiple state securities regulators detail that Nexo’s Earn Interest Product (EIP) may be in violation of securities laws. Nexo Targeted by Several Securities Regulators Over the Crypto...

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