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Senate Republicans press U.S. regulators to clarify crypto capital rules
As reported by Senator Cynthia Lummis and Cointelegraph, a group of Senate Republicans sent a May 27 letter to Federal Reserve Vice Chair for Supervision Miki Bowman, Federal Deposit Insurance Corp. Chairman Travis Hill and Comptroller of the Currency Jonathan Gould, urging the agencies to clarify capital standards for companies engaged in crypto activities. The senators praised guidance issued in March on the capital treatment of tokenized securities, but said regulators should go further and create a clear and fair framework for digital assets held on bank balance sheets. They argued that current international ... (full story)
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