States And Congress Looking At Cyrpto

California Gov. Gavin Newsom (D) has issued an Executive Order for Cryptocurrency Business Rules, an effort aimed at helping the State maintain its Central role in Crypto and Blockchain.

Over the past year, other parts of the Country, including Miami and New York, have sought to attract Industry Players and the Money, mainly because the Industry itself is attracting Money and Jobs. Silicon Valley has been its main center since its early days.

But New York is trying to control the growth of Crypto Mining, which are restarting upstate closed Fossil Fuel Plants to generate the Power they need to run the computers.

Supporting Made-in-California Crypto: While lacking specifics, the Order called for the creation of a Regulatory Framework for the Industry to foster Innovation and Protect Customers.

It also said California would look for ways to implement the Technology in its Public Institutions, as well as build out Research and Workforce-Development infrastructure.

Atlantic Union Bank Embraces Change to Thrive: By combining High-Tech and High-Touch Strategies, Atlantic Union Bank’s CEO John Asbury, aims to close the Digital Gap, deliver Tools to meet Customer needs, and remain Competitive in a crowded Market.

Sen. Elizabeth Warren (D-MA) and Sen. Tina Smith (D-MN), have written the CEO of Fidelity Investments, saying in part that the Company has potential Conflicts of Interest. Senators question Fidelity’s Bitcoin Plan.

On April 26th, Fidelity Investments Inc. said it would soon give the 23,000 companies that use it to Administer their Retirement Plans, the Option to put Bitcoin on the Menu of Investment Options.

In the Senators letter to Fidelity Chief Executive Abigail Johnson, dated Wednesday, they raised questions about that Plan, noting that the company might have a Conflict because it has Mined Bitcoin and offers a Crypto Fund for Wealthy Investors.

Both Senators are Members of Senate Committees that have Jurisdiction over matters that pertain to Retirement.

The letter comes just a few days after Ali Khawar, Acting Assistant Secretary of the Labor Department’s Employee Benefits Security Administration, in an Interview with The Wall Street Journal, expressed Concerns with Fidelity’s Bitcoin Offering.










NYC Wins When Everyone Can Vote! Michael H. Drucker