FCA officials tell UK parliamentary committee crypto regulation is unavoidable

Officials of the United Kingdom’s Financial Conduct Authority (FCA) appeared before the House of Commons’ Treasury Committee on March 8 to discuss the agency’s work. Among the issues raised was cryptocurrency regulation, which the officials approached with a clear lack of enthusiasm. FCA chair Ashley Alder, who took that position in February after serving as CEO of Hong Kong’s Securities and Futures Commission, told the committee that the FCA is “midway through a quite ambitious reset” as the Financial Services and Markets bill makes its way through the Parliament. He…

Crypto Bank Silvergate Announces ‘Voluntary Liquidation’

The bank took out approximately $4.3 billion in loans from the Federal Home Loan Bank of San Francisco, a federal banking entity that provides this type of loan for banks. Still, the fact Silvergate’s situation warranted these loans should have sparked concern from the FDIC months ago, a banking industry veteran told CoinDesk. Author: Nikhilesh De Source link

Bitcoin Slips to 3-Week Low as Market Sees Federal Reserve Lifting Rates to 5.65%

If that’s not enough, the market now sees a 70% probability of the Fed raising rates by 50 basis points later this month, a reacceleration of tightening after a brief step down 25 bps in February. The yield on the two-year Treasury note, which is sensitive to interest rate expectations, has crossed above 5% for the first time since 2007 and could rise further toward 5.655, considering the terminal rate pricing. Author: Omkar Godbole Source link