Digital dollar could trigger a bank run: Treasury Official
A digital dollar is still not sitting well with treasury Official Graham Steele on worries that it could very well trigger bank runs. Steele thinks that the in-research digital dollar could encourage further withdrawals from banks, weakening an already shaken system.
Hinman documents released: the end of SEC authoritarian regulation as we know it
Hinman documents are internal messages from regulators tied to SEC on ex-director Bill Hinman’s infamous 2018 speech. The documents include emails, his speech and messages pointing to discussions about the crypto industry, regulation approaches and its relevancy in the U.S.
Hinmans documents; here is what to know
Hinmans documents are internal SEC messages concerning a speech given by former director William Hinman detailing that some crypto assets evolve from being securities. Hinman said that some assets become commodities as soon as decentralization disqualifies them as securities.
Binance.US and SEC to negotiate and avoid total asset freeze
Binance.US wins in court as U.S. District Judge Amy Berman Jackson orders SEC to negotiate and not freeze the exchange’s assets. Judge Berman has asked the two entities to reach a compromise claiming that extreme measures like the freezing of Binance.US assets are not necessary.
Market manipulation could be possible; U.S. lawmakers file a bill to eject SEC chairman
With market manipulation possibility in mind, U.S. lawmakers have filed a bill to allow the restructuring of the SEC to do away with the chairman position.
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Hot Stories
Binance appoints Richard Teng as head of regional markets outside the US
Binance, the world’s largest crypto exchange by daily transaction volume, has promoted Binance Singapore CEO Richard Teng to oversee all regional markets apart from the U.S. The exchange seeks to increase its international presence as it continually faces scrutiny from U.S. regulators over compliance issues.
Crypto regulation in Indonesia to include tourists
Crypto regulation in Indonesia has taken a new turn as Bali Governor issues a stern warning to tourists who are using crypto assets as substitutes for money in the country. He hosted a press conference on May 28 explaining that the crypto remains illegal in the...
Argentina to expand de-dollarisation efforts: fostering better relations with China
Argentina, one of the countries struggling with the highest inflation rates currently, is planning to expand its plans to de-couple from the U.S. dollar. The Minister of Economy, Sergio Massa, will enter into talks with China to expand the current swap line from $5 billion to $10 billion lent in Chinese Yuan.
U.S. economy check- Debt ceiling talks deferred, Commerce Department hold talks with China
The U.S. economy may have a fighting chance as the debt ceiling may bear fruit soon as Speaker McCarthy and President Biden are set to reach common ground next week to save the U.S. from an almost imminent debt default.
E.U. markets rise as US debt ceiling talks enter final stages
European stock market opened higher on May 16, 2023, following a previous report that the US was reaching the final stages of best ceiling talks.
BRICS: Russia and China expedite plans to develop a new payment system as 25 more countries want in
China and Russia are rallying to finish developing a new payment system for BRICs nations ahead of schedule as they see more nations’ interest in pulling forces together. Currently, 25 more nations want to join the bloc to reduce their reliance on the US Dollar.