Philip Jefferson, who has been serving as a Fed governor since 2022, will take on the No. 2 role under chair Jerome Powell at the central bank until 2036.
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An amendment in the bill tightens oversight on institutions that are engaging in crypto trading.
Coin Center said the bill was unconstitutional, while the Blockchain Association called it incompatible with blockchain technology.
The bill was introduced in the evening and has not been published yet, but it is already causing a stir. Crypto Twitter calls it a “nonstarter.”
The legislation would oblige exchanges to maintain reserves “in an amount sufficient to fulfill all obligations to customers.”
Altman appeared alongside NYU professor Gary Marcus and IBM’s chief of trust Christina Montgomery to discuss how the U.S. government should regulate the AI industry.
Senate Bill 1751 will next move to the Texas House of Representatives, which is scheduled to meet and discuss legislation on April 13.
The Arkansas Data Centers Act is moving now to the governor's office for approval. It grants crypto miners in the State the same rights as data centers.
Elizabeth Warren is back with an Anti-Money Laundering act that would — among other things — make it mostly illegal for you to use your own crypto wallet.
It all started with FTX, FDIC head Martin Gruenberg said; he emphasized that the American banking system remains sound.