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US Senator Elizabeth Warren has urged Treasury Secretary Janet Yellen to include comprehensive Anti-Money Laundering and Combating the Financing of Terrorism measures for stablecoins, highlighting potential risks of funding terrorist activities. (Read More)
U.S. Treasury Secretary Janet Yellen has updated her projection regarding the date the U.S. government could default on its debt obligations. She warned that the Treasury “will have insufficient resources to satisfy the government’s obligations if Congress has not raised or suspended the debt limit by June 5.” Yellen Warns US Could Default on June [...]
The post Treasury Secretary Yellen Revises Debt Default Date: US Government Could Exhaust Funds by June 5 appeared first on Crypto Breaking News.
Cointelegraph analyst and writer Marcel Pechman explains how a U.S. debt default could impact Bitcoin and the larger cryptocurrency market.
California Rep. Maxine Waters, ranking member of the United States House Financial Services Committee, has called on leadership at federal regulatory agencies to weigh in on a proposed framework for digital assets. In separate letters dated June 23, Waters requested Treasury Secretary Janet Yellen and Securities and Exchange Commission (SEC) Chair Gary Gensler provide information [...]
The post US lawmaker calls for info from Treasury and SEC on crypto market structure bill appeared first on Crypto Breaking News.
As calls for the creation of a global alternative to the greenback grow, credit rating agency Moody’s said on May 25 that rival currencies such as the euro and the Chinese yuan do not yet threaten the U.S. dollar’s position as the world’s reserve currency. The agency said a confidence-sapping policy mistake such as the [...]
The post Moody’s on De-Dollarization: Rating Agency Labels US Debt Default a ‘Near-Term Danger to the Dollar’s Position’ appeared first on Crypto Breaking News.
Billionaire Bill Ackman has warned that the U.S. economy is “heading for a train wreck” if the government allows the current banking crisis to continue. “Trust and confidence are earned over many years, but can be wiped out in a few days,” he said. “Hopefully, our regulators will get this right.” Bill Ackman’s Warning Billionaire [...]
The post Billionaire Bill Ackman on US Banking Crisis: ‘I Fear We Are Heading for a Train Wreck’ appeared first on Crypto Breaking News.
U.S. Treasury Secretary Janet Yellen has defended the dominance of the U.S. dollar amid rising efforts by emerging countries to de-dollarize. Brazilian President Luiz Inácio Lula da Silva, in particular, is set to raise the issue of de-dollarization at the next BRICS meeting. “There is a very good reason why the dollar is used widely [...]
The post US Treasury Secretary Defends Dollar Dominance as Emerging Markets Push to De-Dollarize appeared first on Crypto Breaking News.
Ripple CEO Brad Garlinghouse recently asserted that former SEC Division of Corporation Finance Director William Hinman “received millions of dollars of payments from his law firm” which had a vested interest in a well-known 2018 speech given by the then SEC official. In other news, crypto exchange EDX has launched backed by Charles Schwab, Citadel [...]
The post Garlinghouse: SEC Official Received ‘Millions’ From Vested Interests, Tradfi Heavyweight Crypto Exchange EDX Launches, Peter Schiff on USD Decline — Week in Review appeared first on Crypto Breaking News.
Janet Yellen called for further regulation of nonbank institutions claiming they pose a systemic risk to U.S. financial stability.
U.S. Treasury Secretary Janet Yellen has insisted that the U.S. could default on its debt obligations on June 1. “I think that’s a hard deadline,” she stressed. Meanwhile, global investment bank Goldman Sachs has estimated that the “real deadline” for a possible U.S. default is “more like” June 8-9. Yellen and Goldman Sachs on U.S. [...]
The post Treasury Secretary Yellen Insists US Could Default on June 1 — Goldman Sachs Estimates ‘Real Deadline’ Is a Week Later appeared first on Crypto Breaking News.
There has been a lot of commentary concerning the U.S. raising its debt limit, as Treasury secretary Janet Yellen said last month that a U.S. default would be “devastating,” and European Central Bank president Christine Lagarde warned it would be a “major disaster” if the U.S. defaulted on its obligations. It now appears that Republican [...]
The post Republicans Seek to Repeal Biden’s Inflation Reduction Act in Exchange for Raising US Debt Limit appeared first on Crypto Breaking News.
The share of the U.S. dollar usage for international payments has risen to 42.71% in April, despite the push of some countries towards de-dollarization. The dollar remains the most used currency in international settlements, with the euro taking second place according to data from the Society for Worldwide Interbank Financial Telecommunications (SWIFT). U.S. Dollar is [...]
The post SWIFT Data Shows Despite De-Dollarization Push, US Dollar Is Still the King of International Settlements appeared first on Crypto Breaking News.
According to U.S. Treasury Secretary Janet Yellen, the United States government is prepared to take the steps necessary to ensure its financial system remains the world’s strongest and safest. Yellen said that the U.S. government will not hesitate to punish Chinese companies that violate its Russian sanctions policy. U.S. Ready to Shore up Its Financial [...]
The post Treasury Secretary Yellen Says US Government Will Take ‘Any Steps Necessary’ to Preserve Its Financial Dominance appeared first on Crypto Breaking News.
U.S. Treasury Secretary Janet Yellen says the federal government could guarantee all deposits of smaller banks if they “suffer deposit runs that pose the risk of contagion.” The government recently protected all deposits of Silicon Valley Bank and Signature Bank after they failed. U.S. Government Ready to Guarantee More Deposits if Needed U.S. Treasury Secretary [...]
The post Yellen Says US Could Back All Deposits at Smaller Banks if Needed to Prevent Contagion appeared first on Crypto Breaking News.
The founder of a German-based political and economic think tank has cautioned that attempts to de-risk from China “will only lead to the self-destruction of the economies of the West.” She stressed that de-risking policies would hurt their originators more than they could hurt China. The Risks of De-Risking From China The founder of the
The post De-Risking From China Will Destroy Western Economies, Think Tank Founder Warns appeared first on BTC Ethereum Crypto Currency Blog.
Elvira Nabiullina, governor of the Bank of Russia, has affirmed the bank has stockpiled reserves in assets that are not susceptible to being affected by U.S. sanctions. The official clarified that Russia has built a “safety cushion” in these assets while it continues working on creating new reserves in non-U.S. sanctioned assets. Russia Built Bank [...]
The post Bank of Russia Has Stockpiled Reserve Comprised of Non-US Sanctioned Assets, Governor States appeared first on Crypto Breaking News.
The U.S. Treasury Secretary Janet Yellen said the federal government would intervene if necessary to protect other small lenders.
Goldman Sachs has revised its U.S. interest rate forecast due to “stress in the banking system.” The global investment bank no longer expects the Federal Reserve to raise interest rates at its Federal Open Market Committee (FOMC) meeting in March after the central bank announced measures to rescue depositors of failed Silicon Valley Bank and [...]
The post Goldman Sachs Now Expects No Rate Hike in March Due to Stress in US Banking System appeared first on Crypto Breaking News.
Last week, another major quake shook crypto markets. Silvergate Bank — a crypto-fiat gateway network for financial institutions and a significant on-ramp for cryptocurrencies in the United States — shut down operations due to liquidity problems. A couple of days later, another ??Federal Deposit Insurance Corporation-insured institution, Silicon Valley Bank (SVB), was shut down by [...]
The post Silvergate and SVB bite the dust: Law Decoded, March 6–13. appeared first on Crypto Breaking News.
United States Treasury Secretary Janet Yellen is working with regulators to address the collapse of Silicon Valley Bank (SVB), one of the top 20 largest banks in the US. Yellen has stated that they are focused on protecting depositors, particularly small businesses that employ people across the country, and that they are considering a range of available options, including acquisitions from foreign banks. (Read More)
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