The cryptocurrency industry faces criticism from regulatory authorities like SEC Chair Gary Gensler and FDIC Vice Chairman Travis Hill for fraud, lack of decentralization, and unclear definitions. Hill also criticizes U.S. restrictions on banks handling digital assets, calling for clarity and a common definition of crypto assets.
NEW: “SEC's definition of 'cryptocurrency asset' is extremely broad and can be read to include not only blockchain-native assets but also tokenized versions of real-world assets. There must be a clear common definition of crypto assets,” says FDIC Deputy Chair Travis Hill https://t.co/0L7c8pmNnY
🚨NEW(ish): Vice Chairman of the @FDICgov says #tokenization of real world assets will have a transformative impact on the banking system. He says regulators including the @SECGov and the FDIC need to do a better job of providing clarity. “…there are significant downsides to…
Travis Hill, vice chairman of the FDIC, criticized the U.S. banking restrictions on handling digital assets for clients https://t.co/ACCiAosexr
Vice Chairman of FDIC criticizing U.S. restrictions on banks handling cryptocurrency #bitcoin $mstr $mara $riot $coin $jpm: Travis Hill, vice chairman of FDIC, criticized US restrictions on banks handling digital assets for clients. Hill, agency’s 2nd ranking person, said…
Vice Chairman of FDIC criticizing U.S. restrictions on banks handling cryptocurrency: Travis Hill, vice chairman of FDIC, criticized US restrictions on banks handling digital assets for clients. Hill, agency’s 2nd ranking person, said officials should take a more proactive…
FDIC Vice Chair knocks SEC's crypto accounting bulletin, saying it 'sharply departs' from current custodian practices https://t.co/78BWynxjDy
FDIC Vice Chair Travis Hill criticized key elements of the Biden administration’s regulatory approach to crypto today. @BrendanPedersen has the details: https://t.co/Kmd7DDxA3X
.@Vlajournaliste @WSJ covers how the @SECGov's approval of a #Bitcoin ETP & large firms jumping into the crypto space has created a veneer of legitimacy that the industry has simply not earned. @DennisKelleher says that Main Street investors are being provided "false comfort"…
Travis Hill, the vice chairman of the Federal Deposit Insurance Corp., criticized US restrictions on banks handling digital assets for their clients. https://t.co/nlMBsx0ywj
NEW: “The whole cryptocurrency field is rife with abuses and fraud. This is not that decentralized - that's part of Satoshi Nakamoto and the folklore of decentralization. They’re operating as a clearing house, a broker-dealer, and an exchange,” says 🇺🇸 SEC Chair Gary Gensler. https://t.co/M6ObNRt03c