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On January 24, Cynthia Lummis, chair of the Senate Banking Subcommittee on Digital Assets, posted on social media: "As we learn of the severity and injustice of Chokepoint 2.0, I will work closely with FDIC Vice Chairperson Travis Hill to end this attack on digital assets."
The 119th U.S. Senate Subcommittee on Banking Digital Assets will focus on the following two areas: 1. Promote bipartisan digital asset legislation that promotes responsible innovation and protects consumers, including market structure, stablecoins, and strategic bitcoin reserves. Stringent oversight of federal financial regulators to ensure that they are acting in accordance with the law and that incidents like "Operation Chokepoint 2.0" do not happen again.
Gerry Connolly, the top Democrat on the House oversight committee, wrote to the committee's Republican chairperson a day after the start of Mr. Trump's new term demanding an investigation into the president's business ties. "The committee must take immediate action to investigate the serious conflicts of interest that Donald Trump has brought into the office of the president," he said in the letter.
On January 21 local time, the US Senate Finance Committee voted 16 to 11 to approve the nomination of Scott Bessent to serve as Secretary of the Treasury in the Trump administration, and submitted the nomination to the Senate for a final confirmation vote. If approved, Bessent will become one of the important spokespeople of the new US administration on economic policy, with huge influence on fiscal policy, financial regulation, international sanctions and overseas investment.
The US Senate Finance Committee has voted to confirm Scott Bessant's nomination as Treasury Secretary, sending him to the full Senate for consideration.
The Democratic leader of the U.S. House Financial Services Committee, California Rep. Maxine Waters, echoed the concerns of many cryptocurrency users and lawmakers who have accused Trump of harming legitimate projects in the cryptocurrency industry with the launch of Meme. Waters said in a statement on Jan. 20 that Official Trump (TRUMP) represents "the worst of Crypto" and...
The Political Bureau of the Central Committee of the Communist Party of China held a meeting to review the "Comprehensive Report on the Listening and Study of the Work Reports of the Party Group of the Standing Committee of the National People's Congress, the State Council, the National Committee of the Chinese People's Political Consultative Conference, the Supreme People's Court, and the Supreme People's Procuratorate and the Work Report of the Central Secretariat" "Opinions on Comprehensively...
On January 19, the Central Committee of the Communist Party of China and the State Council issued the "Outline of the Plan for Building a Powerful Education Country (2024-2035) ". It proposes to improve the mechanism for discovering and cultivating top-notch innovative talents. Focus on strengthening the cultivation of innovation ability, implement the "Fertile Soil Plan" for primary and secondary school students to cultivate scientific literacy; implement the "Brightening Plan" for high school ...
On January 19, the Central Committee of the Communist Party of China and the State Council issued the "Outline of the Plan for the Construction of a Powerful Education Country". It is proposed that the layout of higher education should be modernized. Coordinate the development of universities affiliated to the central departments and local universities. Intensify the construction of high-level research universities and accelerate the application-oriented transformation of local universities. Sup...
Senator Elizabeth Warren, a senior member of the Senate banking committee, has questioned the relationship between Howard Lutnick, Mr. Trump's nominee for commerce secretary, and Tether, citing potential conflicts of interest. She criticised Tether's links to sanctioned entities and highlighted broader concerns. Howard Lutnick does not directly oversee cryptocurrency regulation, but the department has published reports on industry regulation. In addition, there are...
According to the Nikkei Shimbun, the vast majority of Bank of Japan board members are expected to support a rate hike next week.
Newly elected Republican Senator Tim Scott, chairperson of the U.S. Senate Banking Committee, has announced that developing a regulatory framework for digital assets will be one of the top priorities of the 119th Congress. In a Jan. 15 notice, Tim Scott said the banking committee intends to focus on financial inclusion policies that "create opportunity for America." The committee's priorities include affordable housing, economic national security, regulation, and digital assets. He said: "Under ...
On January 15th, according to Korean media reports, the Financial Information Analysis Unit (FIU) of the South Korean Financial Commission plans to hold a sanctions review committee against Upbit on January 21st. This is due to the previous discovery of issues related to violations of customer identification (KYC) obligations during on-site inspections of the registration renewal of virtual asset service providers (VASPs). The outcome of the review may involve the determination of the amount of ...
The FOMC's permanent voting committee and New York Federal Reserve President Williams will make an opening statement at an event in ten minutes.
Luo Zhuojian, a member of the National Committee of the Chinese People's Political Consultative Conference and a consulting expert of the Ministry of Finance, issued a document calling for the active development of stablecoins to protect the advantages of Hong Kong's financial center. He pointed out that Hong Kong can cooperate with Financial Institution Groups in other regions in the application of stablecoins to explore its potential in international settlement and cross-border application mod...
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