News list for " oversight"
The Trump administration is reforming government regulators charged with monitoring risks in the financial system to focus more on how to promote economic growth and the "undue burden" that comes with strict financial rules, U.S. Treasury Secretary Vincent Bescent announced on Thursday. Bescent said the Financial Stability Oversight Council (FSOC), which he chairs, will shift its focus to how to loosen financial rules, arguing that the cost of regulation to economic growth poses a risk in itself...
According to CNBC, U.S. Treasury Secretary Vincent has proposed major reforms to the Financial Stability Oversight Board.
According to Solid Intel, South Korea's Financial Supervisory Commission will shift the regulation of cryptocurrency exchanges from a self-regulatory model to a direct government supervision model.
Notice of the Cyberspace Administration of China on the "Regulations on the Establishment of Personal Information Protection Supervision Committees on Large-scale Network Platforms (exposure draft) " for public comment.
The Financial Intelligence Unit (FIU) under the Financial Supervisory Commission (FSC) of South Korea on August 6 commissioned a Phase 2 study on virtual asset legislation, focusing on anti-money laundering (AML) measures for stablecoins. The Financial Supervisory Commission said upcoming regulations are expected to bring stablecoins into the regulatory framework, allowing them to be used for payments and cross-border transfers. The study will examine global approaches to stablecoin regulation a...
On February 6th, the US House Financial Services Committee Oversight and Investigations Subcommittee will hold a hearing at 14:00 EST on February 6th (3:00 AM Beijing time on the 7th), with the theme of "Choke Point 2.0: How the Biden Administration is cracking down on cryptocurrencies", focusing on the issue of banking services restrictions facing the crypto industry. Witnesses include Austin Campbell, Paul Grewal, Fred Thiel, and Shayna Olesiuk, and are expected to address the attitude of fina...
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.
The US Financial Stability Oversight Council (FSOC) released its annual report yesterday, in which it noted that stablecoins continue to pose a latent risk to financial stability as they are highly vulnerable to runs in the absence of proper risk management standards. The FSOC said the stablecoin market is highly concentrated, with one company holding around 70% of the total market capitalization of the sector. Although the FSOC did not specify which company, it warned that if "the company's" ma...
OpenAI said the company's safety and security committee will become an independent board oversight committee, which Zico Kolter will chair.
