US Regulators Urgently Working on Joint Cryptocurrency Regulation: Fed’s Quar...
U.S. government agencies are urgently working together on a joint regulatory framework for cryptocurrencies, Federal Reserve Vice Chair of Supervision Randal Quarles has confirmed. “We along with the OCC and the FDIC are engaged right now in what we are calling a sprint in seeking to pull together views on” crypto regulation. US Agencies Collaborating on Joint Regulatory Framework for Cryptocurrencies Federal Reserve Vice Chair of Supervision Randal Quarles talked about regulators’ efforts on cryptocurrency supervision on Tuesday, Reuters reported. Answering a question....
Related News
Regulators in the U.S. and U.K. have met to discuss broader crypto regulatory initiatives. They reaffirmed their commitment to “continued cooperation to support safe financial innovation, as well as to strengthen regulatory outcomes for stablecoins across jurisdictions.”
US and UK Regulators Collaborate on Crypto Regulation
The U.S. Department of the Treasury published a joint statement last week on the U.K.-U.S. Financial Regulatory Working Group.
The group held a meeting on July 21. Participants included officials and senior staff from HM....
Two U.S. lawmakers have urged the chairman of the Securities and Exchange Commission (SEC) and the acting chairman of the Commodity Futures Trading Commission (CFTC) to establish a joint working group for the regulation of crypto assets. SEC and CFTC Urged to Collaborate on Crypto Regulation U.S. Representatives Patrick McHenry and Glenn “GT” Thompson sent a letter to SEC Chairman Gary Gensler and acting CFTC Chairman Rostin Behnam Monday regarding cryptocurrency. McHenry is the ranking member of the House Financial Services Committee while Thompson is the ranking member of the....
Global market regulators are likely to launch a joint body within the next year to better coordinate cryptocurrency regulations, said a top executive of the International Organization of Securities Commissions (IOSCO). A Global Body to Coordinate Crypto Rules Top executives at the International Organization of Securities Commissions (IOSCO) discussed cryptocurrency regulation this week. Members of the global organization regulate more than 95% of the world’s securities markets in more than 130 jurisdictions. Emphasizing the need for a global group to align crypto rules, IOSCO Chair....
A globally consistent crypto regulatory framework is urgently needed to allow banks to handle crypto assets on behalf of large customers, said a JPMorgan executive. “We need a globally consistent regulatory framework. It’s important that we get to a solution as quickly as possible.” Global Regulatory Framework Urgently Needed to Allow Banks to Offer Crypto Exposure to Clients, Says JPMorgan Debbie Toennies, managing director and head of Regulatory Affairs at global investment bank JPMorgan Chase & Co., talked about global cryptocurrency regulation applicable to banks....
The National Bank of Belgium (NBB) and the Belgian Financial Services and Markets Authority (FSMA) have issued a joint statement, warning investors about the pitfalls of investing in digital currencies such as bitcoin and litecoin. The statement points out that digital currencies are becoming relatively popular and attracting media attention, but they are also drawing in speculators looking to make a quick buck on bitcoin volatility. Risks compounded by lack of regulation. The NBB and the FSMA stress that digital currencies are not issued by a central bank or a licensed issuer of....