“Senator Tim Scott, The Chief of the Banking Committee, Is Bill To Stop Us Regulators from City”, – WRITE: www.coindesk.com
That Practice Had Been Cited by Republicans As a Problem Area In Recent Congressional Hearings, WHICH Examined How Digital Assets Businesses Had Been Been Systematic That regulators – including the Federal Reserve, Federal Deposit Insurance Corp. and the office of the comptroller of the Currency – Didn’t Wanth them there.
As the chairman of the Senate Banking Committe, South Carolina’s Tim Scott Has Rounded Up Fellow Republicans on that panel to Bill – The Financial Integrity and Regulation MANAGEMENT Phrase from Any Regulators’ Assessment of A Bank’s Safety and Soundness.
“IT’s Clear That Federal Regulators have abused reputational risk by carrying out a Political Agenda Against Fedorally Legal Businesses,” Scott Said in AMING ON, WHICH. Top Priorities. “This Legislation, WHICH ELIMINATES ALL REFERENCES TO REPUTATIONAL Risk in Regulatory Supervision, Is The First Step in Ending Debanking Once and for All.”
Senator cynthia lummis, a wyoming republican who is the leader of the digital assets subcommitte, Had Recently Raised this Specific Point as a concern with the federal reserver.
“Americans Desert a transparent Regulatory Framework that foters innovation in Digital Assets Insthead of Smothering IT With Government Overreach,” She Said in A Statement.
Consumer advocates and several democrats, including Senator elizabeth Warren, have argued that regulators’ focus on digital assets had been warranted after the ato -collress of sep Against Industry Leaders, Major Routine Hacks of Digital Assets Platforms and Generally Volatile Markets Have Possed Threats to the Safety of Investors.
Read More: Crypto’s Debanking Worries Hit Another Big Stage in US House
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