GENIUS Act Could Shield Bitcoin From Fed Oversight, Governor Barr Warns
Federal Reserve Governor Michael S. Barr used a keynote at DC Fintech Week to praise Congress for finally drawing lines around stablecoins—then immediately warned that the new law’s drafting could open channels for risk and regulatory arbitrage, including a pathway for Bitcoin-linked instruments to sit inside stablecoin reserves with only indirect Federal Reserve visibility. Bitcoin […]
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US Federal Reserve (Fed) Governor has warned about the potential risks that stablecoin may pose to financial stability and urged for strong oversight, as the industry awaits the final text of the highly anticipated crypto market structure bill. Related Reading: SEC Questioned Over Treatment Of Trump’s ‘Crypto Backers’ Amid Enforcement Chief Exit Fed Governor Calls […]
Quick Facts: ➡️ GENIUS-era stablecoin rules push issuers toward bank-like reserves and oversight, reducing room for experimental designs and high-yield structures. ➡️ The Federal Reserve confirming the GENIUS Act’s stablecoin network guarantees increased exposure to crypto assets for a new batch of investors. ➡️ PEPENODE’s ($PEPENODE) virtual mining system and tiered node rewards transform traditional […]
American actress Roseanne Barr has tweeted cryptic support for Bitcoin. Already controversial for her support of the Occupy movement, and calling for the beheading of bankers, Roseanne Barr seems to be backing Bitcoin as the perfect currency for trading after the apocalypse. While many celebrities get a PR firm to run their twitter feed, we get the feeling Roseanne is a bit more hands-on... Barr wrote: first post apocalyptic law: slavery in all forms is now illegal-including debt slavery. #BITCOIN. - Roseanne Barr (@TheRealRoseanne) May 28, 2013. Quickly followed by: 2nd law: war is....
As Mark Karpeles was being arrested on August 1, 2015, his former employee Ashley Barr, who operated under the name "Adam Turner," took to Reddit to answer questions about his time at Mt. Gox. In his introduction, Barr wrote, "I was hired by Mark [Karpeles] in June 2011 to help him handle the crazy inbox at Mt. Gox during bitcoin's initial rally. In January 2012 I was asked to become Mt. Gox's CEO, a process which led to my dismissal in May 2012. My statement along with other ex-employees have led the Tokyo Metro Police's arrest on embezzlement and 'illegal manipulation of accounting.'.....
Following the US Treasury Department and the Office of the Comptroller of the Currency (OCC) proposal rules for the GENIUS Act—the country’s first stablecoin bill—Bitcoin (BTC) custodian BitGo has submitted its formal comments to the OCC. BitGo Pushes OCC On GENIUS Act Changes In a social media post on Monday, BitGo called the GENIUS Act […]