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When cryptocurrencies collapsed and a number of companies failed last year, Congress considered multiple approaches for how to regulate the industry in the future. However, most of those efforts have gone nowhere, especially in this chaotic year that has been dominated by geopolitical tensions, inflation and the upcoming 2024 election.
Ironically, the failure of Bankman-Fried's FTX and his subsequent arrest late last year may have contributed to the momentum for regulation stalling out. Before FTX imploded, Bankman-Fried spent millions of dollars - illegally taken from his customers it turns out to influence the discussion around cryptocurrency regulation in Washington and push for action.
Without Congress, federal regulators like the Securities and Exchange Commission have stepped in to take their own enforcement actions against the industry, including the filing of lawsuits against Coinbase and Binance, two of the biggest cryptocurrency exchanges.
And most recently PayPal received a subpoena from the SEC related to its PayPal USD stablecoin, the company said in a filing with securities regulators. "The subpoena requests the production of documents, the company said. "We are cooperating with the SEC in connection with this request."
Still, Congress still has yet to act.
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ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة AppleMagazine #628 من AppleMagazine.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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DEVELOPERS OF STALLED MINNESOTA COPPER-NICKEL MINE PLAN STUDIES THAT MAY LEAD TO SIGNIFICANT CHANGES
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The unprecedented mental health crisis for children in the United States often surfaces where they spend much of their days: school.
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Becky Litvintchouk didn’t think she’d be able to manage the mountain of tasks needed to become an entrepreneur.
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NEW MARS STUDY SUGGESTS AN OCEAN'S WORTH OF WATER MAY BE HIDING BENEATH THE RED DUSTY SURFACE
Mars may be drenched beneath its surface, with enough water hiding in the cracks of underground rocks to form a global ocean, new research suggests.
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Watching climbing at the Paris Olympics makes it seem as if it’s a sport that would be completely out of the question for a weekend athlete.
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ARE YOU A CASH APP USER? YOU MAY BE ELIGIBLE FOR A PIECE OF THIS $15 MILLION SETTLEMENT
Current and former Cash App users could be eligible for a hefty piece of a proposed class-action settlement from the popular online payment service.
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If you’re ready to move on from a purely gasoline-fueled vehicle but you’re not ready to go fully electric, you have two choices.