The Congressional Research Service reviewed the impact of recent legislation, which significantly reduced the maximum amount of funding the Consumer Financial Protection Bureau can request from the Federal Reserve.
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In an address before the Blockchain Association, OCC Comptroller Jonathan V. Gould emphasized an urgent need to "reinvigorate" the chartering of new banks and for "entities that engage in activities involving digital assets and other novel technologies" to "have a pathway to become federally supervised banks."
The CFTC Market Participants Division, Division of Market Oversight, and Division of Clearing and Risk issued three letters that allow, to a limited extent, the use of digital assets as regulatory margin.
The CFTC launched a digital assets pilot program allowing futures commission merchants to accept Bitcoin, Ether, and USDC as customer margin collateral in derivatives markets.
In a House Committee on Financial Services Final Report, staff "identified a pattern of Biden Administration prudential regulators abusing their regulatory, supervisory, and enforcement authorities to push entities involved in the digital asset ecosystem out of the U.S. financial system."