cryptocurrency

Fintech Beat examines Block.one's settlement with the SEC
Fintech Beat, Ep. 22

U.S. Securities and Exchange Commission at the SEC in Washington. (Photo By Bill Clark/CQ Roll Call)

Uncertainty is the bane of the crypto industry, with limited predictability about the scope of securities laws. That's because there is little agreement on when a cryptocurrency is considered a security. Block.one found out the hard way. Fintech Beat explores what the company's settlement with the SEC means.

Fintech Beat explores the difference between ‘good’ and ‘bad’ money
Fintech Beat, Ep. 21

Fintech Beat sits down with the one of the IRS's top crypto cops
Fintech Beat, Ep. 20

The Internal Revenue Service building is pictured in Washington (Photo by Caroline Brehman/CQ Roll Call)

Fintech Beat explores the ABC's of fintech investing
Fintech Beat, Ep. 19

Stock market data growth chart graph investment finance analysis fintech financial district

The Comptroller of the Currency
Fintech Beat, Episode 17

Joseph Otting, Comptroller of the Currency, prepares to testify during a House Financial Services Committee hearing in Rayburn Building titled "Financial Industry Regulation: the Office of the Comptroller of the Currency," on June 13, 2018. (Photo By Tom Williams/CQ Roll Call)

Fintech Beat explores the relationship between hip-hop and crypto
Fintech Beat podcast, Ep. 16

Grammy award winning hip hop star T.I. (a.k.a. Clifford Joseph Harris Jr.) talks to the media as he arrives on the "green carpet' at the 9:30 Club to participate in the Hip Hop Caucus' event to launch their get out the vote campaign on Monday, July 28, 2008.

IMF embraces new central bank digital currencies
Fintech Beat, Episode 15

IMF officials talk digital currency in the latest Fintech Beat podcast. (Credit: krblokhin/ iStock)

Senate Banking members take skeptical look at cryptocurrencies
Blockchain firms have tried selling lawmakers on the potential for dramatically reduced transaction costs.

Senate Banking Chairman Mike Crapo, R-Idaho, sees data privacy as one of the primary risks. (Bill Clark/CQ Roll Call file photo)

Concerns over data privacy and skepticism about just how unique and beneficial cryptocurrencies and other blockchain-based digital assets could be dominated Tuesday’s Senate Banking Committee hearing on regulating the new technology.

“This new digital currency and blockchain technology is a very real — and potentially helpful — innovation,” said Chairman Michael D. Crapo, R-Idaho. “It’s also potentially harmful as there can be some serious risk involved in it.”

Capital One hack gets attention of Senate panel, New York AG
The breach affects at least 100 million Americans and 6 million Canadians, according to the company

Senate Banking Chairman Mike Crapo said he and Letitia James, New York state Attorney General, will probe the Capital One data breach that the company reported late Monday. (Caroline Brehman/CQ Roll Call)

Senate Banking Chairman Michael D. Crapo and New York state Attorney General Letitia James said they will probe the data breach suffered by credit card issuer Capital One, which the company reported late Monday.

“I have concerns about all aspects of this,” Crapo said about the Capital One breach during a Tuesday morning hearing on cryptocurrencies. “We want to understand how this happened, how other breaches happened ... and we want to know how vulnerabilities [appear] in systems and figure out what we must do to deal with them at a policy level. I don’t have answers yet, but yes, we need to figure that out and we do have concerns about those vulnerabilities.”

Facebook’s currency plan makes fintech a tough sell in Congress
Some members are conflating disdain for Facebook with other, more vital fintech innovation, Schweikert says

House Financial Services Chairwoman Maxine Waters has criticized Facebook’s new cryptocurrency offering, Libra, calling it an “unchecked expansion” into the lives of the company’s users. (Tom Williams/CQ Roll Call)

Members of Congress who support the development of new financial technologies say their job might have gotten tougher after Facebook announced its plan to issue a cryptocurrency.

Lawmakers used hearings in both chambers this month to roundly censure Facebook’s proposed Libra, which the social media company says could provide financial services to people who can’t rely on banks.