July 24, 2024
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US Senators Introduced Bill To Prohibit Unbacked Algorithmic Stablecoins

United States Senators Kirsten Gillibrand (D-NY) and Cynthia Lummis (R-WY) may have just introduced a new bill today to prohibit unbacked algorithmic stablecoins.  Tagged the Lummis-Gillibrand Payment Stablecoin Act, the bill seeks first to ensure that stablecoin issuers have their tokens fully backed. That is, their token reserves must either be one-to-one in cash or

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US Senators Urge Gensler To Halt Crypto ETF Approval, Citing “Enormous Risks”

Two US senators have called on the Securities and Exchange Commission (SEC) Chair, Gary Gensler, to halt the approval of any further crypto exchange-traded fund (ETF), citing risks to retail investors.  In a letter to SEC Chair Gary Gensler, Senators Jack Reed and Laphonza Butler expressed concerns about the potential for fraud and manipulation in

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US Senators Seek Gary Gensler’s Report On X Breach, Deadline Monday

US senators have raised concerns about the SEC’s misleading X post and demanded a report on the “claimed” X breach from SEC Chair Gary Gensler, setting Monday as deadline. Senators J.D. Vance and Thom Tillis raised concerns about the Commission’s internal cybersecurity procedures while demanding clarity on the incident. Two United States senators are calling

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Bitcoin News

US Senators Raise Concerns Over BlackRock’s Investment Practices

A recent letter signed by 19 US senators, dated August 4, 2022, has brought to light concerns over investment giant BlackRock’s fiduciary responsibilities and potential conflicts of interest. The senators question whether BlackRock is prioritizing its climate agenda over the interests of US pensioner retirement funds, as reported in the accessible document. The senators emphasized

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