Reeling from losses, the industry is pressing Congress to legislate a government seal of approval—with feeble regulatory substance.
cryptocurrency
Posted inEconomic Policy
Proposed Stablecoin Legislation Is Worse Than Nothing
The House Financial Services Committee would let unstable crypto firms into the normal banking system.
Posted inTAP
The Zombie Survival of Crypto
Today on TAP: Will the Treasury rescue a scam sector just as it collapses of its own weight?
Posted inMoney, Politics, and Power
Senate Feminist Spends Last Days of ‘Roe’ Shilling for Crypto Bros
Sen. Kirsten Gillibrand is teaming up with Republican Cynthia Lummis on a cryptocurrency bill that supporters and detractors alike see as mostly hands-off.
Posted inEnergy and the Environment
Electrical Workers Union Fights to Expand Crypto Mining in New York
The IBEW opposes a bill awaiting signature by Gov. Kathy Hochul that would put a moratorium on new fossil fuel power plants for the crypto industry.
Posted inMoney, Politics, and Power
Sam Bankman-Fried’s Multimillion-Dollar Game
He is spending prodigious amounts on lobbying and elections to ensure that crypto is lightly regulated in the future.
Posted inEconomic Policy
Fed Nominee Michael Barr Discloses 82 Different Fintech Investments
Several of them involve startups in crypto, just as the products are crashing and the need for regulation is more acute than ever.
Posted inTAP
The Stock Market’s Slow Collapse
Today on TAP: What it means for the real economy and the fortunes of Democrats
Posted inEconomic Policy
Lessons From the Crypto Crash
Cryptocurrency, NFTs, and stablecoins are a trillion-dollar trash fire.
Posted inEconomic Policy
The Return of Michael Barr
Spurned for high-level positions on several occasions, he enters the conversation for a Fed slot at a time when progressives are wary of more personnel battles.