Policy & regulation

Former Ripple Board Member Tapped to Lead Biden’s OCC: WSJ

Michael S. Barr, a former U.S. Treasury Department official and onetime member of Ripple’s board of directors, is likely to become the next Comptroller of the Currency, the Wall Street Journal reported Wednesday. If named and confirmed by the U.S. Senate, Barr will succeed Brian Brooks, the former Coinbase executive who served as Acting Comptroller …

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European Commission, ECB Unite to Consider Potential Pitfalls of the Digital Euro

The European Commission and the European Central Bank (ECB) are teaming up to consider potential issues that could arise from the digital euro before a decision is made to kick off the digital currency’s development this summer. The two EU institutions now plan to cooperate on “exploring the possibility of issuing a digital euro, as …

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Trustee of Collapsed Exchange Moves to Resolve Crypto vs. Fiat Creditor Claims Tussle

Ernst and Young (EY), the bankruptcy trustee for the defunct exchange QuadrigaCX, is trying to resolve a dispute over how to value the firm’s cryptocurrency assets before disbursement to creditors. EY will head to court on Jan. 26 to argue the valuation date for cryptocurrency claims should be considered from the date of the exchange’s …

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Bitfinex Says It’s Nearly Done Turning Over Documents to NYAG

Bitfinex expects to finish turning documents over to the Office of the New York Attorney General (NYAG) in the coming weeks, a procedural hurdle that would move the state prosecutor’s investigation of the alleged $850 million Tether cover-up one step closer to conclusion Charles Michael, the Steptoe lawyer representing defendant Bitfinex, told the court Tuesday …

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Former Canadian Prime Minister Lists Bitcoin as Possible Future Reserve Currency

Stephen Harper, an economist and the former prime minister of Canada, said bitcoin could potentially see use as a reserve currency, but isn’t going to supplant the U.S. dollar’s international role. In an interview with Cambridge House’s Jay Martin on Sunday, Harper acknowledged that the dollar had been on a downtrend, but said there were …

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Liquidators of South African Bitcoin Trading Club Request Greater Probe Powers

Provisional liquidators are seeking greater powers to investigate a defunct cryptocurrency trading firm after it was allegedly discovered to be lying to investors and operating illegally. According to a report by Bloomberg on Friday, Mirror Trading International (MTI) is set to be put under the microscope by four liquidators following an investigation from South Africa’s …

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What Crypto Can Expect From Gary Gensler at the SEC

This week, reports emerged that Gary Gensler, the former chairman of the Commodity Future Trading Commission (CFTC) is set to be President-elect Joe Biden’s choice to take over the Securities and Exchange Commission (SEC). This is good news for the digital assets industry. From my experience with Gensler, whether the subject is digital assets, swaps …

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‘Was This Correct?’ Twitter’s Dorsey Asks About Banning Trump and Then Says ‘Yes’

Twitter CEO Jack Dorsey took to (where else?) Twitter to ask the question “Was this correct?” regarding his company’s decision to ban U.S. President Donald Trump from the platform following last week’s attack on the Capitol. After that opening expression of doubt, he proceeded to answer that yes, it was. UPDATE (Jan. 14, 02:00 UTC): …

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OCC Chief Brian Brooks Is Stepping Down Thursday

Brian Brooks, who was named the temporary head of the Office of the Comptroller of the Currency (OCC) last summer, made the announcement official a day after he was rumored to be departing. His departure will come a day after the federal banking regulator granted crypto custodian Anchorage a conditional trust charter, making it the …

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