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Former New York state senator helps launch blockchain think thank

Summary by Spectrum Local News

Former New York State Senator and Democrat David Carlucci is helping launch a new organization focused on blockchain policy.

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Spectrum Local News

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Former New York state senator helps launch blockchain think thank

Former New York State Senator and Democrat David Carlucci is helping launch a new organization focused on blockchain policy.

4 days ago·United States

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Coin Desk

Center

Sen. Gillibrand Says Tough Regs Needed to Prevent SVB-Like Bank Run

U.S. Senator Kirsten Gillibrand (D-N.Y.), one of the leading Democrats supporting crypto legislation, warned the industry against pushing for a “watered-down” version of the long-awaited stablecoin legislation currently moving through the Senate, arguing that stringent regulations are necessary to foster innovation and protect investors from bank runs like the one on Silicon Valley Bank in 2023 and the collapse of crypto exchange FTX in 2022.Spe…

5 days ago·Manila, Philippines

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CoinTrust

New York Seeks to Lead Blockchain Innovation with New Council

Blockchain technology, often linked with cryptocurrency, has a much broader range of applications, according to former New York State Senator David Carlucci. He suggested that while digital currencies tend to dominate public perception, blockchain’s potential extends far beyond, particularly into sectors such as healthcare, energy, and government operations. Carlucci, who also has experience as a town clerk, acknowledged the critical role of rec…

4 days ago

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TokenPost

U.S. Senator Warns Crypto Industry Against Weak Stablecoin Rules

U.S. Senator Kirsten Gillibrand (D-N.Y.) cautioned the crypto industry against pushing for a diluted version of the bipartisan stablecoin legislation currently advancing in the Senate. Speaking at the D.C. Blockchain Summit, Gillibrand emphasized that strong regulation is vital to prevent financial crises similar to the collapse of FTX in 2022 and the Silicon Valley Bank run in 2023. The proposed legislation, known as the GENIUS Act (Guiding and…

5 days ago

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Crypto Breaking News

The Impact of Yield-Bearing Stablecoins on Banking: Insights from US Senator Gillibrand

Senator Gillibrand believes that yield-bearing stablecoins have the potential to disrupt traditional banking systems. These digital assets offer users the ability to earn interest on their holdings, bypassing the need for traditional banking services. Stablecoins are a type of cryptocurrency that are pegged to a stable asset, such as the US dollar, to minimize volatility. By utilizing smart contracts and decentralized finance (DeFi) protocols, u…

5 days ago

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BizToc

Sen. Gillibrand Warns Against a ‘Watered-Down’ Stablecoin Bill

Sen. Gillibrand Warns Against a ‘Watered-Down’ Stablecoin Bill Gillibrand suggested that the long-awaited stablecoin bill could become law before the August recess. What to know: Sen. Kirsten Gillibrand told attendees at the D.C. Blockchain Summit on Wednesday that Congress could potentially…

5 days ago

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