News list for " Kansas"
On January 23rd, Kansas Senator Bowser introduced Senate Bill 34, which aims to invest public employees' retirement funds in bitcoin ETFs. According to the text of the bill, the bill intends to authorize the Kansas Public Employees' Retirement System (KPERS) Trust Board to invest up to 10% of the funds of the Kansas Public Employees' Retirement Fund in bitcoin ETF products.
The SEC is banning Shan Hanes, former CEO of Heartland Tri-State Bank in Kansas, from participating in the banking industry in the future, according to official sources. Previously, Shan Hanes was sentenced to 293 months in federal prison for his alleged $47 million cryptocurrency scam. Court documents show that Hanes executed 11 unauthorized telegraphic transfers between May and July 2023 to transfer $47.10 million in bank funds into a cryptocurrency wallet. The scam eventually led to the Hear....
Arkansas Republican Congressman French Hill recently sent a letter to Securities Exchange Commission (SEC) Chairperson Gary Gensler and other officials calling for a suspension of all ongoing rulemaking. Hill said that the public is deeply dissatisfied with the excessive regulation of the previous government, especially in the field of crypto, which may limit innovation. He criticized existing rules for constraining economic growth, emphasizing that they should be suspended to restore the balanc...
The 2025 FOMC voting committee and Kansas Federal Reserve President Schmid will speak in ten minutes.
According to official news, after obtaining currency transmission licenses in Arkansas, Iowa, and New Hampshire, Fiat-crypto payment solution provider Alchemy Pay announced that it has obtained another currency transmission license in New Mexico, USA. Due to the regulatory independence of each state in the United States, Alchemy Pay also revealed that it is currently actively applying for currency transmission licenses in other states.
The Department of Justice (DOJ) announced Monday that a federal judge in Wichita, Kansas, has ordered millions of dollars seized by the government to be returned to investors affected by the collapse of Heartland Tri-State Bank (HTSB). The DOJ explained: After a $47.10 million cryptocurrency scheme led to the collapse of a Kansas bank, a federal judge at a compensation hearing ordered millions of dollars seized by the government to be distributed to investors who suffered financial losses.
According to NBC News, Trump is expected to win Kansas.
The 2025 FOMC voting committee and Kansas Federal Reserve President Schmid will speak in ten minutes on the outlook for the economy and monetary policy.
On August 20th, the former CEO of a Kansas bank was sentenced to 293 months (about 24 years and 5 months) in prison for embezzling huge sums of money to participate in a cryptocurrency scam. According to court documents, Shan Hanes, 53, pleaded guilty to one count of embezzlement by a bank executive. Hanes made 11 telegraphic transfers totaling $47.10 million between May and July 2023 while serving as CEO of Heartland Tri-State Bank, which will...
Mr. Schmid, the president of the Kansas Fed, signalled he was not ready to support a rate cut because inflation was above target and the labour market remained healthy, albeit somewhat cooler. In remarks to the Kansas Bankers Association, Mr. Schmid said the recent drop in inflation was "encouraging" and that more reports of low price pressures would increase his view on inflation.
A Kansas City grand jury indicted North Korean national Lim Jung-hyuk, accusing him of participating in a ransomware attack plot targeting U.S. hospitals and medical facilities. The group laundered cryptocurrency proceeds and used the funds to further cyber-intrusion into defense, technology, and government entities around the world. The ransomware attack disrupted patient care and was part of the broader "Andariel" hacking group linked to North Korea's Reconnaissance General Administration...
Republican Senator Roger Marshall of Kansas has withdrawn from the crypto anti-money laundering bill he originally co-sponsored with Democratic Senator Elizabeth Warren of Massachusetts. According to congressional legislative records, Marshall this week withdrew his support for the controversial Digital Asset Anti-Money Laundering Act of 2023 (DAAMLA), becoming the first co-sponsor to do so. However, this...
The Federal Reserve Bank of Kansas City study found that stablecoin insurance costs are higher than bank deposit insurance. The average annual insurance cost for the four unnamed stablecoins has been 3.2% since 2019, but has dropped below 1% over the past year, compared to bank FDIC insurance costs of 2.5 to 42 basis points. Stablecoins are more volatile in price and issuance, and have a smaller capital buffer, averaging just 0.9%. Nonetheless, the insurance costs can be covered by stablecoin re...
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