The FSB will expand the powers of cryptocurrency officers. Why it matters
The agency has published a document under which specific officials will be able to send requests to operators of information systems on the issuance of digital financial assets
Russia’s Federal Security Service has published a draft order, according to which the agency’s officers will be able to send requests to operators of information systems on the issuance of digital financial assets. Also FSS employees will be able to request information from credit organizations, tax bodies and agencies that perform state registration of rights to real estate.
Now the document is undergoing an independent anticorruption expertise and public discussion. RBC-Crypto” experts explained what powers will receive employees of FSS in case of approval of the document.
The demand for blockchain specialists in the U.S. increased sevenfold in a year
According to job search social network Linkedin, digital asset-related vacancies have appeared in many companies since August 2020
In the U.S., demand for blockchain and cryptocurrency professionals has increased 615% since August 2020, according to job search social network Linkedin. Many companies have posted job openings related to blockchain and digital assets, according to the service. The most active employers in these areas are large financial companies such as BNY Mellon, JPMorgan and others.
In August, several large organizations announced that they were hiring cryptocurrency experts. For example, Walmart, the largest U.S. retail chain, began a search for an executive on cryptocurrency products. The company was looking for a specialist who will develop a strategy for development in the field of digital currencies and take it to the leaders in this segment. In October, Walmart stores installed 200 crypto machines to sell bitcoin.
U.S. authorities will develop rules for banks to handle cryptocurrencies
U.S. regulators are examining under what circumstances banking organizations can engage in digital asset activities
The Federal Deposit Insurance Corporation (FDIC) is working with the Federal Reserve and the Office of the Comptroller of the Currency to develop a set of rules for banks dealing with cryptocurrency. This was announced by FDIC Chairman Elena McWilliams at the Money20/20 Fintech conference. According to McWilliams, regulators are currently examining under what circumstances banks can engage in activities involving digital assets.
The FDIC chair said the new rules are intended to bring clarity to the regulation of banks that manage cryptocurrency assets and stablecoins. McWilliams argues that Stablecoins have many benefits for consumers, but if they become the dominant form of payments in the U.S., it could affect the country’s financial stability.