Oversight

US Treasury Report Warns of Defi’s Threat to National Security, Authors Conclude Fiat Is Used in Illicit Finance More Than Crypto

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The U.S. Treasury has released a 42-page report assessing the risks of decentralized finance (defi). The report states that specific nation-state adversaries, cybercriminals, ransomware attackers, thieves, and scammers are using defi to “transfer and launder their illicit proceeds.” The Treasury’s report…

Singapore Seeks Detailed Information From Crypto Firms Ahead of New Regulations, Report Unveils

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Financial authorities in Singapore are taking steps toward increased oversight in the crypto space with the city-state’s central bank reportedly asking companies to provide additional information about their activities and assets. Ahead of a possible broadening of the applicable rules, the…

European Banking Authority Concerned About Hiring Talent to Oversee Crypto Space

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Europe’s banking sector regulator is worried it won’t manage to find the specialized personnel needed for the oversight of the EU’s attempt to regulate the crypto market. The authority is also concerned over the lack of clarity regarding which digital assets…

Amid the Hottest US Inflation in 40 Years, Biden Administration Blames Rising Prices on Shipping Industry

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During the last few months, inflation has risen significantly in the United States as it has climbed at its fastest pace since 1982. Data shows younger families with children have been struggling to make ends meet, while reports further indicate retirees…

US Senate Banking Chief Criticizes Super Bowl Crypto Ads, Claims ‘Big Crypto Companies Are Desperate’

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The United States senator from Ohio and Senate Banking Committee chief Sherrod Brown is not a fan of cryptocurrencies. This week during Tuesday’s stablecoin hearing, Brown criticized all the cryptocurrency companies who advertised during the Super Bowl this past weekend and…

Eurosystem Approves New Oversight Framework Concerning Crypto Services

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The monetary authority of the euro area, the Eurosystem, has introduced a new framework for overseeing electronic payments, including services related to crypto assets. The new set of rules will complement upcoming EU regulations for cryptocurrencies and stablecoins. ECB Aims for…

Estonia Considers Revoking Crypto Licenses as Government Mulls Tougher Regulations

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Authorities in Estonia are working on new legislation expected to stiffen the rules for the country’s cryptocurrency sector. The Baltic nation’s regulator for the industry is considering whether to revoke previously issued crypto licenses and restart authorization from scratch. Licensed Crypto…