Alternatives
The Biden Admin has been tip-toeing around crypto regulation since it came into office, but now those public statements are actually materializing in the form of regulation. A top town security memorandum is expected to come down the pipes in the next few weeks which will task separate government agencies to develop regulatory policies around crypto, NFTs, and stable coins. The State Department, Treasury Department, National Economic Council, Council of Economic advisors, and White House Security Council will all be on the job. While the Whitehouse will avoid regulatory suggestions they are putting the burden on these agencies to propose stricter rules.
FINSUM: Crypto regulation isn’t necessarily bad; it's just another closer step toward legitimizing digital currencies in the eyes of countries around the globe.
Join Cult Wines Investment Americas CEO, Atul Tiwari as he details how it works, the red-hot fine wine market, the wider global financial environment, and an outlook for what to expect in 2022 ... [Read More]
Ready to learn more? Read Cult Wines' entire 2022 market outlook here. Fine wine can continue to post healthy performance and carry over a fantastic 2021 campaign into 2022. Economic growth and a deepening supply-demand imbalance point to ongoing price appreciation ... [Read More]
More...
Admit it: The first time you heard about non-fungible tokens, or NFTs, you probably thought they were ridiculous ... [Read More]
We currently find ourselves in an unusual situation, as far as the economy and the financial markets. Due to the coronavirus pandemic, the Federal Government and Federal Reserve introduced massive fiscal and monetary stimulus programs ... [Read More]
Christopher Giancarlo is a former chairman of the Commodity Futures Trading Commission, and he spoke out against the Biden Admin’s crackdown on crypto. Biden’s Administration has made it clear that he wants tighter controls on stable coins, which peg to the existing government currencies, and crypto more broadly speaking of the systematic risk. Giancarlo says these regulations are short sited and they fail to see how crypto could improve economic growth and efficiency. He also said that a new regulation bureau should be created to manage crypto and that the government should create its own digital dollar. Giancarlo was a republican appointed by the Obama administration, and this criticism could be very important.
FINSUM: Don’t overlook the ability of stable coins to improve economic effectiveness in allowing for more efficient global financial flows.