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23 01, 2024

DAILY012324

2024-01-23T16:37:28-05:00January 23rd, 2024|2- Daily Briefing|

Waters Tries to Block Libra Redux

Reflecting long-held Democratic concerns over Big Tech’s crypto plans, HFSC Ranking Member Waters (D-CA) late yesterday sent a letter to Meta Platforms CEO Mark Zuckerburg and COO Javier Olivan once again raising strong objections to Meta’s potential expansion into digital assets.  The letter highlights that several of the company’s recent patent applications relate to digital-asset services and blockchain technology, seemingly contradicting Meta’s recent assertions to HFSC Democrats that it is not working in this arena.

Daily012324.pdf

20 10, 2021

Daily102021

2023-06-05T15:29:28-04:00October 20th, 2021|2- Daily Briefing|

Senate Dems Demand Facebook End Crypto Projects
Five Senate Democrats including Banking Chairman Brown (D-OH) late yesterday demanded that Facebook terminate its cryptocurrency (Diem) and digital wallet (Novi) projects, citing CEO Mark Zuckerberg’s 2019 HFSC testimony (see Client Report CRYPTO12) pledging not to launch financial products such as these without U.S. regulatory approval.

Banking Agencies, CFPB Do What They Can to Accelerate LIBOR Transition
Today, the Federal banking agencies and the CFPB, NCUA, and state regulators issued guidance yet again emphasizing their LIBOR transition expectations. This follows an OCC self-assessment tool to gauge transition readiness earlier this week and emphatic statements from the other agencies.

Daily102021.pdf

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