Daily Archives: 08/06/2022

US Senate Considers New Bill to Regulate Digital Assets

The new American cryptocurrency bill proposes to equate platforms that trade at least one digital asset with cryptocurrency exchanges. A copy of the U.S. Cryptocurrency Bill has begun circulating on Twitter. The document, according to the screenshots, is currently under consideration in the Senate and consists of six hundred pages. The draft contains a description of the areas of the crypto industry that are of the greatest concern to regulators. Regulators cite decentralized finance (DeFi),…

BIS: Cryptocurrencies, by virtue of nature, will not be able to replace traditional money

The Bank for International Settlements (BIS) believes that the limit on the number of transactions in the blockchain will prevent cryptocurrencies from gaining an attractiveness similar to that of fiat money. BIS posted a report in which the bank’s experts argue that cryptocurrencies, due to the “fragmentation effect”, cannot fulfill the social role of money in the global financial system and become an effective means of payment. The authors of the report explain that as…