The FSOC – whose members include the heads of financial agencies, including the Federal Reserve and both the SEC and CFTC – is also preparing to recommend that U.S. regulators need to be able to reach into all corners of digital businesses. They not only need to be able to supervise a crypto firm, but also all of its affiliates and key service providers – like the Fed can do when it oversees Wall Street banks, the report will argue, asking Congress to grant that power.
Related posts
-
Japanese Regulator Issues Warning to Unregistered Crypto Platform Lbank Exchange
The Financial Services Agency (FSA) of Japan issued a warning to Lbank Exchange, an overseas cryptocurrency... -
Block Earner Co-Founder: Lack of Regulation Limits Australian Crypto Market to Token Sales Only
Regulation through enforcement often yields suboptimal outcomes for all... -
Study: Crypto Market Participants Favor Meme Coins, Shun High-FDV Projects
Crypto market participants’ growing preference for character or celebrity...