[Weekly News] the 3rd week of Sep.
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Let’s learn about the hottest Bitcoin and cryptocurrency news for the 3rd week of September!
US White House unveils cryptocurrency regulatory framework.
The Joe Biden administration has unveiled a cryptocurrency regulatory framework, CNBC reports. According to reports, the main contents of the framework are:
1. Eradication of Illegal Finance: To regulate digital asset service providers such as digital asset exchanges and NFT platforms, it will be evaluated whether current laws, such as the Bank Secrecy Act, are amended. As part of this, the Treasury Department will complete DeFi’s illicit financial risk assessment by the end of February next year and the NFT assessment by July.
2. Digital Dollar Preferred: Digital Dollars facilitate efficient, cross-border transactions and support an environmentally sustainable payment system. Accordingly, we will urge the U.S. Federal Reserve to continue research, experimentation, and evaluation of the digital dollar.
3. Securing financial stability: As the integration between digital assets and major economic systems deepens, there is a need for the proper regulation of stablecoins. Therefore, the Ministry of Finance plans to share information with other agencies and allies to identify and remediate cyber vulnerabilities.
Robert Kiyosaki “He who saves is a loser.”
“Rich Dad, Poor Dad” author Robert Kiyosaki tweeted, “Savers are losers. This was mentioned in “Rich Dad Poor Dad” 25 years ago; the U.S. debt now stands at 100 trillion dollars. Actual inflation is 16%, not 7%. The U.S. Fed’s rate hike will destroy the U.S. economy, and those who save will suffer the most. Gold, Silver, Bitcoin. Invest in REAL MONEY.”
Support deposit and withdrawal of 20 cryptocurrencies such as Coinbase Custody and SWEAT.
Coinbase Custody, a subsidiary of Coinbase, an American cryptocurrency exchange, announced that it would support deposit and withdrawal services for 20 new cryptocurrencies, including STG and SWEAT, through its official channel. The added cryptocurrencies supported this time are ADS, ANGLE, BETA, CAST, DFA, DSLA, E.L., HOTCROSS, KSM, MATTER, PAPER, RARE, STG, SWEAT, SWTHUDO, VSP, WOO, WXT, ZCX, etc.
U.S. Department of the Treasury “Cryptocurrency has various operational risks… Tailored regulation needed.”
According to Cointelegraph, the U.S. Department of the Treasury released a report on the 16th (local time) titled ‘Ensuring the Responsible Development of Cryptocurrencies’, saying, “Contrary to the claims of developers and proponents, the potential for change that blockchain technology will bring to the financial system is limited. It has not been revealed yet.”
The report includes a descriptive survey of cryptocurrencies and warnings about risks to cryptocurrencies, respectively. For example, the Ministry of Finance said, “The amount of damage to cryptocurrency fraud surged in 2021 and is expected to increase further this year. In addition, operational risks such as defects in information systems or internal processes, human errors, governance and management failures, and disruptions due to external events,” the Ministry of Finance said. exists,” he warned.
Then, he recommended ▲strengthening enforcement ▲cooperation and information sharing between agencies and ▲reinforcing monitoring, he said. The report follows an executive order signed by U.S. President Biden in March. The Treasury Department also released a report titled “The Future of Money and Payments” containing CBDC-related information.
Source: https://www.coinpress.co.kr/2022/09/19/38261/
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