New NY Gov. taps former Obama official to head state's financial regulator
Adrienne Harris said she aims "to ensure we have a robust and fair financial system, and an equitable economy" in her role at the NYDFS. Kathy Hochul, the governor of New York who has been in office for only a week since the departure of Andrew Cuomo, has nominated Adrienne Harris to lead the state’s Department of Financial Services.According to a Tuesday Wall Street Journal report, Hochul tapped Harris to lead the New York Department of Financial Services, or NYDFS, following the resignation of superintendent Linda Lacewell. Harris is currently a senior advisor at the PR firm Brunswick....
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Ripple Labs has added Michael Barr, a former US Treasury Department official, to its board of advisors. Barr previously served as Assistant Secretary for Financial Institutions under President Barack Obama and as a special Treasury advisor to former President Bill Clinton. Barr also worked in the State Department and the US Supreme Court. He is currently teaching at the University of Michigan Law School. Barr said in a statement: "Our global payments system is badly outdated. I think innovation in payments can help make the financial system safer, reduce cost and improve access and....
A former central bank official, nominated to head South Korea’s financial watchdog, has expressed skepticism about recognizing cryptocurrency as a financial asset. In comments to a parliamentary committee, Koh Seung-beom has confirmed his views on the matter align with those of international institutions.
Candidate to Head Korea’s Financial Regulator Says Crypto Is Not Currency
Koh Seung-beom, who may become the next Chairman of the Korean Financial Services Commission (FSC), has shared doubts regarding the value of cryptocurrency as a financial asset and its....
The financial regulator of the U.S. state of Arizona has warned investors about crypto interest-bearing accounts. “Some companies may materially overstate the degree to which their collateral practices protect their ability to pay investors the stated return,” the regulator said. State Regulator Warns About Crypto Interest-Bearing Accounts The Arizona Corporation Commission issued an investor alert this week, warning about “digital asset financial services companies that offer interest-bearing crypto-asset accounts.” The regulator explained: “With....
Gary Gensler will reportedly ensure a smooth transition with the Federal Reserve in addition to banking and securities regulators. Less than four days after his official acceptance speech, Joe Biden has already begun assembling a team including the former chairman of the Commodity Futures Trading Commission as part of his transition to the 46th President of the United States.According to a Nov. 10 announcement from the ‘Biden-Harris Transition’, Gary Gensler has volunteered to join President-elect Joe Biden’s team as a financial expert. The former CFTC chair will be the lead tasked with....
The Obama administration should move quickly to embrace bitcoin and blockchain technology, a former government regulator has argued in a new op-ed. Writing for CNBC, former Commodity Futures Trading Commission (CFTC) commissioner Bart Chilton said that the US is at risk of missing out on potential economic value by not more openly supporting the technology in its nascent days. Citing recent advocacy by current CFTC commissioner J. Christopher Giancarlo, who appeared at CoinDesk’s Consensus 2016 blockchain conference, Chilton said that President Barack Obama "should heed the....