Biden EO Promises The World; Fintech Investors And Innovators Just Want Stable Regulation

By Roslyn Layton. March 10, 2022. (Forbes)

Investors are looking for leadership from the President on financial innovation; instead they get a word salad of an executive order on consumers, financial stability, national security, and climate risks. The EO is a regulatory pile-on which asserts that ten federal agencies; a cadre of state insurance, banking, and securities regulators; and a smattering of other bureaucrats to protect consumers, investors, and business while ensuring “sufficient oversight and safeguard against any systemic financial risks posed by digital assets.” Consumers and financial innovators have long wanted a coherent, predictable regulatory regime which supports investment and experimentation while providing needed information to the public. Sadly Biden’s order merely punts the issue back to regulators to codify their capricious and abusive overreach.

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Biden to Sign Crypto Order as Firms Face Sanctions Pressure

By Allyson Versprille and Jennifer Epstein. March 7, 2022. (Bloomberg)

President Joe Biden is set to sign an executive order this week that will outline the U.S. government’s strategy for cryptocurrencies, according to people familiar with the administration’s plans.

The order will direct federal agencies to examine potential regulatory changes, as well as the national security and economic impact of digital assets, said the people, who asked not to be named discussing the deliberations. The White House’s approach to crypto has attracted fresh attention in recent weeks after the U.S. and its allies levied sanctions on Russia, prompting concerns that organizations and individuals could use crypto to evade the restrictions.

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The Meaning Of “We” At The SEC

By Roslyn Layton. January 31, 2022. (Forbes)

News broke Thursday that President Biden will issue a sweeping executive order tasking his Administration to develop a regulatory framework for digital assets as a matter of “national security.” This should have been welcome; cryptocurrency innovators have begged for a clear regulatory framework for the better part of a decade.

But the news sent a chill through the crypto space. After years of abuse of crypto investors and innovators, the credibility of the Securities and Exchange Commission (SEC) is in tatters.

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Since Chairman Patrick McHenry threatened to SUBPOENA Gary Gensler for NON-COMPLIANCE with Congressional oversight.

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