Regulation - Page 12
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Fed of St. Louis Says DeFi Released Wave of Innovation
DeFi is getting an unexpected and huge new backer: The Federal Reserve of St. Louis. “DeFi offers exciting opportunities and has the potential to create a truly open, transparent, and immutable financial infrastructure,” reads the latest report from one of the 12 regional Reserve Banks. The report cites learnings from projects like Maker, Uniswap, Balancer,…
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A Blockchain Expert Might be the New SEC Head
Joe Biden’s new SEC chair may be, if not an advocate, at least very knowledgeable on blockchain technology. President-elect Joe Biden will be appointing MIT professor Gary Gensler as chair of the U.S. Securities and Exchange Commission, Reuters reported. Gensler is a Professor of the Practice of Global Economics and Management at MIT’s Sloan School…
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US Regulators Propose Stablecoin Crack Down With STABLE Act
A new bill by US lawmakers has DeFi up in arms after proposing that all stablecoin issuers need to obtain a bank charter, which would potentially make much of DeFi trading and even running an Ethereum node, illegal. “It shall be unlawful for any person to issue a stablecoin or stablecoin-related product, to provide any…
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BitMEX Charges Highlight Case for Real DeFi
CFTC charges against BitMEX are bound to push more cryptocurrency projects towards decentralization — but that means actual* decentralization. The Commission today filed charges against BitMEX and its owners and operators including CEO Arthur Hayes for operating a trading platform without CFTC approval, and for failing to implement know-your-customer procedures, a customer information program, and…