FDIC Candidate Emphasizes Banks’ Role in Storing Digital Assets
During the hearings in the US Congress on July 11, Christie Goldsmith Romero, a candidate for chair of the Federal Deposit Insurance Corporation (FDIC), provided lawmakers with the regulator’s official opinion on the role of banks in storing digital assets for customers.
Regulatory Developments in Cryptocurrency Industry
In response to questions from members of Congress, Romero noted that in current conditions, cryptocurrency should be considered as a regular business that does not require special regulation from the FDIC. She emphasized that the regulator should not interfere in the banks’ decisions on which assets to store.
These hearings coincided with the day when Congress failed to override President Joe Biden’s veto of the amendment to Staff Accounting Bulletin 121, which was a significant milestone in the discussion of cryptocurrency regulation.
Lawsuits Against Government Agencies
Amid the current regulatory discussions, cryptocurrency exchange Coinbase (NASDAQ) has filed lawsuits against the US Securities and Exchange Commission (SEC) and FDIC, accusing these federal agencies of attempting to exclude the crypto industry from the banking sector.
Blockchain Verification for DNS Records
Founder of Unstoppable Domains, Matthew Gould, proposed using blockchain verification to enhance DNS record protection. He explained that record updates could be configured only through blockchain verification, using a digital wallet signature.
Hamster Kombat’s Future Plans
In the gaming industry, developers of Hamster Kombat expressed optimism about the future of their game after a successful first airdrop scheduled for the end of July. They announced plans to conduct a second distribution of the gaming asset, hoping for further success.
The Hamster Kombat team also voiced their intentions to actively fight against bots, referral fraud, and manipulation of gaming processes, highlighting their focus on mass adoption, educational goals, financial literacy, and the idea of universal basic income.
