Fun

News Feed - 2023-11-24 02:11:48

Turner Wright6 hours agoStablecoin bill is a ‘no-brainer’ — Consensys director on US legislationConsensys’ senior counsel and director of global regulatory matters, Bill Hughes, spoke at the North American Blockchain Summit on crypto bills and their role in politics.513 Total views12 Total sharesListen to article 0:00InterviewJoin us on social networksAmid ongoing campaigns for the elections in 2024, many United States lawmakers have not sealed the deal on legislation aimed at establishing regulatory clarity on aspects of the digital asset space, including stablecoins.


Speaking with Cointelegraph at the North American Blockchain Summit on Nov. 16, Consensys’ senior counsel and director of global regulatory matters, Bill Hughes, said it was “an exciting time in the policy world” as members of Congress considered which crypto bills they planned to support. Hughes said legislating on stablecoins should be a “no-brainer” for lawmakers once they resolve issues related to state-level regulators.


“Stablecoins are a huge part of the crypto ecosystem — it is one of the best use cases of blockchain technology,” said the Consensys director. “There’s just this one policy stumbling block which is holding stuff up.”


Hughes added that Massachusetts Senator Elizabeth Warren’s crypto bill, aimed at cracking down on the illicit use of digital assets, may have support but was “problematic” in addressing Anti-Money Laundering. In contrast, the Clarity for Payment Stablecoins Act, introduced by House Financial Services Committee chair Patrick McHenry, was “pretty sensible, all things considered,” according to the Consensys director.


“Crypto has definitely become a political football of sorts in D.C.,” said Hughes. “There are obviously those that are outwardly and gleefully hostile. There are a lot who view it as an exciting space that needs to be given room to breathe while also being mindful that there are meaningful risks that may be rightfully the subject of federal policy.”This legislation she proposes does nothing to solve the problem she claims it solves. Literally nothing.

DOJs settlement today does help, however. https://t.co/IkcFIAygLO— Bill Hughes : wchughes.eth (@BillHughesDC) November 22, 2023


Like many in the space, Hughes expected that the U.S. Securities and Exchange Commission could give the green light to a spot Bitcoin (BTC) exchange-traded fund, or ETF, but didn’t rule out the regulator continuing to delay a decision:“It wouldn’t surprise me if the Bitcoin ETF was finally allowed to go forward. [...] There’s a huge supplier demand for it. [...] The current rationale for not having one has been incoherent.”


Related:US House FSC to discuss illicit activity in crypto at upcoming hearing


Candidates for the 2024 presidential election, including Republican Vivek Ramaswamy and Independent Robert F. Kennedy, Jr., attended the North American Blockchain Summit and expressed their support for many crypto-related policies — an issue that largely hasn’t taken center stage at Republican Party debates. According to Hughes, crypto was “very much off the beaten path” regarding political issues and more likely to be represented in candidates’ views on wider-reaching issues like financial freedom and the size of government.


Magazine:Unstablecoins: Depegging, bank runs and other risks loom# Law# United States# ConsenSys# Policies# Stablecoin# RegulationAdd reactionAdd reactionRead moreSam Altman’s ouster shows Biden isn’t handling AI properlyMilei presidential victory fuels optimism in Argentina’s Bitcoin communityCryptoqueen’s OneCoin legal chief pleads guilty to fraud

News Feed

Zhiyuan Sun6 hours agoInteractive Brokers opens Hong Kong retail crypto trading with OSLHong Kong clients will be able to purchase Bitcoin and Ether in their personal accounts.729 Total views8 Total sharesListen to artic
Bitcoin Miner Greenidge Seeks to Raise $22.8 Million in Class A Common Stock Proposal
Bitcoin Miner Greenidge Seeks to Raise $22.8 Million in Class A Common Stock Proposal The bitcoin mining operation Greenidge Generation is seeking to raise roughly $22.8 million, a
Gareth Jenkinson7 hours agoTech firm Republic taps Avalanche for profit-sharing investment noteThe blockchain-based investment note is issued on Avalanche and will automatically distribute profits to holders’ wallets.1
rhoToken Successfully Launched on Flurry Finance DApp
rhoToken Successfully Launched on Flurry Finance DApp sponsored Flurry Finance is announcing an exciting development in the world of DeFi, as the successful launch of the rhoToken m
Applied Direct Response — ERCOT Study Shows Bitcoin Mining Is Beneficial to the Texas Grid
Applied Direct Response — ERCOT Study Shows Bitcoin Mining Is Beneficial to the Texas Grid On Nov. 29, 2022, The Electric Reliability Council of Texas (ERCOT) published a report
BlackRock's BTC ETF investors keep buying despite ‘plummeted’ Bitcoin outlook
Brayden Lindrea6 hours agoBlackRock"s BTC ETF investors keep buying despite ‘plummeted’ Bitcoin outlookThe amount of positive Bitcoin commentary on social media is just a third of what it was four months ago, accordi
Tether completes ‘gold standard’ security audit
Zoltan Vardai11 hours agoTether completes ‘gold standard’ security auditThe independent audit represents the highest level of security compliance an organization can demonstrate.3327 Total views41 Total sharesListen
Bitcoin, Ethereum Technical Analysis: ETH Back Above $1,300 to Start the Weekend
Bitcoin, Ethereum Technical Analysis: ETH Back Above $1,300 to Start the Weekend Ethereum was once again trading above $1,300, as cryptocurrency prices rose to start the weekend. M
Turner Wright4 hours agoUK government moves forward on bill aimed at empowering authorities to seize cryptoFollowing a third reading in the House of Lords, the Economic Crime and Corporate Transparency Bill will return t
Local Businesses in New York Urge Governor to Impose Statewide Bitcoin Mining Moratorium
Local Businesses in New York Urge Governor to Impose Statewide Bitcoin Mining Moratorium The governor of New York state, Kathy Hochul, has been urged by a group of local companies
Janet Yellen Defends Tax Compliance Agenda — 3 State Treasurers Promise Not to Comply
Janet Yellen Defends Tax Compliance Agenda — 3 State Treasurers Promise Not to Comply The 78th United States secretary of the treasury, Janet Yellen, is very concerned about tax
Ethereum reaches 1M validators, community thinks it’s ‘too much’
Ezra Reguerra40 minutes agoEthereum reaches 1M validators, community thinks it’s ‘too much’While more validators could mean more security, community members think too many could be problematic.2732 Total views10 To