IMU (Municipal Property Ta) on first house: double exemption to spouses living in two different municipalities. Copyright 2022 Bennett, Coleman & Co. Ltd. All rights reserved. (d) The term digital assets refers to all CBDCs, regardless of the technology used, and to other representations of value, financial assets and instruments, or claims that are used to make payments or investments, or to transmit or exchange funds or the equivalent thereof, that are issued or represented in digital form through the use of distributed ledger technology. Those markets have been plagued by several problems as they've grown, including the rise of dubious credit brokers and the potential for firms to sell credits for the same project twice. This report shall be coordinated through the interagency process described in section3 of this order. A lot of the crypto-adjacent software like drand, IPFS, libp2p sound interesting, but then you look at the docs and it's clear the software wasn't designed to actually be used, but instead to advertise how smart the designers and their crypto schemes are. Read more: Proposal Limiting Proof-of-Work Is Rejected in EU Parliament Committee Vote. Advances in digital and distributed ledger technology for financial services have led to dramatic growth in markets for digital assets, with profound implications for the protection of consumers, investors, and businesses, including data privacy and security; financial stability and systemic risk; crime; national security; the ability to exercise human rights; financial inclusion and equity; and energy demand and climate change. Im a Conservative Who Got Heckled at Yale Law School. The United States has an interest in ensuring that digital asset technologies and the digital payments ecosystem are developed, designed, and implemented in a responsible manner that includes privacy and security in their architecture, integrates features and controls that defend against illicit exploitation, and reduces negative climate impacts and environmental pollution, as may result from some cryptocurrency mining.Sec. (f) We must support technological advances that promote responsible development and use of digital assets. This framework shall be coordinated through the interagency process described in section 3 of this order. So far, experiments in using blockchains to address climate change remain in the experimental phase, and are likely to evolve significantly in the years to come, she said. Online Backgammon Games & Tournaments | Play65 Great to see this interview with White, who always inspires me as a fellow software engineer. My Administration will support the ongoing international work and, where appropriate, push for additional work to drive development and implementation of holistic standards, cooperation and coordination, and information sharing. CNN Business Washington, DC 20500. GO INSIDE THE MILKEN INSTITUTE FUTURE OF HEALTH SUMMIT: POLITICO is featuring a special edition of our Future Pulse newsletter at the 2022 Milken Institute Future of Health Summit from Dec. 6 to 8. The POTUS thanked the Asian American community in the US for making the Diwali celebration a joyous part of American culture. Conduct your own research by contacting financial experts before making any investment decisions. Bitcoin News . 6. Additional founders of Ethereum included Gavin Wood, Charles The report should also address the effect of cryptocurrencies consensus mechanisms on energy usage, including research into potential mitigating measures and alternative mechanisms of consensus and the design tradeoffs those may entail. Public blockchains as shared, transparent ledgers are pretty good at preventing double-counting, as well as building accountability. One of Washingtons heavyweight think tanks is throwing its resources into AI development. Members of the European Union must be ready to block crypto mining, the European Commission, the bloc's executive arm responsible for introducing new legislation, said Tuesday as the region prepares for an uncertain winter. This report shall be coordinated through the interagency process described in section 3 of this order. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. 4. This action plan shall be coordinated through the interagency process described in section 3 of this order. What happened today in crypto markets and why. The G7 report highlighted that any CBDC should be grounded in the G7s long-standing public commitments to transparency, the rule of law, and sound economic governance, as well as the promotion of competition and innovation. Uneven regulation, supervision, and compliance across jurisdictions creates opportunities for arbitrage and raises risks to financial stability and the protection of consumers, investors, businesses, and markets. Billboard Cybersecurity and market failures at major digital asset exchanges and trading platforms have resulted in billions of dollars in losses. Tech Monitor - Navigating the horizon of business technology July 9, 2021 4. Yesterday, though, marked a big milestone for public sector buy-in: The World Bank and the government of Singapore unveiled plans for the launch of a joint project to bring together information from the worlds major carbon-offset registries in a single distributed ledger. (c) We must mitigate the illicit finance and national security risks posed by misuse of digital assets. So much of the crypto bluster reminds me of the old story that JFK Sr (or some such) knew it was time to get out of the stock market when he got stock tips from his shoe shine boy. (e) The term stablecoins refers to a category of cryptocurrencies with mechanisms that are aimed at maintaining a stable value, such as by pegging the value of the coin to a specific currency, asset, or pool of assets or by algorithmically controlling supply in response to changes in demand in order to stabilize value.Sec. View the latest business news about the worlds top companies, and explore articles on global markets, finance, tech, and the innovations driving us forward. While many activities involving digital assets are within the scope of existing domestic laws and regulations, an area where the United States has been a global leader, growing development and adoption of digital assets and related innovations, as well as inconsistent controls to defend against certain key risks, necessitate an evolution and alignment of the United States Government approach to digital assets. (viii) Within 1 year of submission of the report described in section 5(b)(vii) of this order, the Director of the Office of Science and Technology Policy, in consultation with the Secretary of the Treasury, the Secretary of Energy, the Administrator of the Environmental Protection Agency, the Chair of the Council of Economic Advisers, and the heads of other relevant agencies, shall update the report described in section5(b)(vii) of this order, including to address any knowledge gaps identified in such report.Sec. These efforts should include assessments of possible benefits and risks for consumers, investors, and businesses; financial stability and systemic risk; payment systems; national security; the ability to exercise human rights; financial inclusion and equity; and the actions required to launch a United States CBDC if doing so is deemed to be in the national interest. The growing use of digital assets in financial activity heightens risks of crimes such as money laundering, terrorist and proliferation financing, fraud and theft schemes, and corruption. The interagency process shall include, as appropriate: the Secretary of State, the Secretary of the Treasury, the Secretary of Defense, the Attorney General, the Secretary of Commerce, the Secretary of Labor, the Secretary of Energy, the Secretary of Homeland Security, the Administrator of the Environmental Protection Agency, the Director of the Office of Management and Budget, the Director of National Intelligence, the Director of the Domestic Policy Council, the Chair of the Council of Economic Advisers, the Director of the Office of Science and Technology Policy, the Administrator of the Office of Information and Regulatory Affairs, the Director of the National Science Foundation, and the Administrator of the United States Agency for International Development. A CFTC commissioner is warning banks to tread carefully before they get involved with crypto. Password requirements: 6 to 30 characters long; ASCII characters only (characters found on a standard US keyboard); must contain at least 4 different symbols; Crypto 2022. The Chairman of the Federal Reserve is also encouraged to evaluate the extent to which a United States CBDC, based on the potential design options, could enhance or impede the ability of monetary policy to function effectively as a critical macroeconomic stabilization tool. In most green circles, crypto is a dirty word because of the vast amount of energy used in Bitcoin mining.. The new project, called Climate Action Data Trust, will launch in December. Enforcement would happen largely at the stage where money is converted to or from cryptocurrency. 2. Your guide to Bitcoin, Ethereum & Web 3.0 - Decrypt A United States CBDC that is interoperable with CBDCs issued by other monetary authorities could facilitate faster and lower-cost cross-border payments and potentially boost economic growth, support the continued centrality of the United States within the international financial system, and help to protect the unique role that the dollar plays in global finance. U.Today - IT, AI and Fintech Daily News for You Today 7. The transformation of value in the digital age. The White House 1600 Pennsylvania Ave NW Washington, DC 20500 To search this site, enter a search term Search. The UnitedStates has an interest in ensuring that it remains at the forefront of responsible development and design of digital assets and the technology that underpins new forms of payments and capital flows in the international financial system, particularly in setting standards that promote: democratic values; the rule of law; privacy; the protection of consumers, investors, and businesses; and interoperability with digital platforms, legacy architecture, and international payment systems. Ethereum Digital asset issuers, exchanges and trading platforms, and intermediaries whose activities may increase risks to financial stability, should, as appropriate, be subject to and in compliance with regulatory and supervisory standards that govern traditional market infrastructures and financial firms, in line with the general principle of same business, same risks, same rules. The new and unique uses and functions that digital assets can facilitate may create additional economic and financial risks requiring an evolution to a regulatory approach that adequately addresses those risks. PPIC Statewide Survey: Californians and Their Government All . And next month, theyre taking their case to the 27th United Nations Climate Change Conference in Egypt with a series of panel discussions, before their official launch on December 7th. Although most projects remain imho scams, there is increasingly a real talent pool doing blockchains these days, and more importantly a pipeline training people in cryptography and distributed systems, but all this talent still winds up being fragmented across tribal almost-impossible-to-use financial products. Be a smarter, safer investor in eight weeks. Definitions. Section 1033(b)(3) Information required to be kept confidential by other law 26 iv. Coordination. White Derek Robertson, The headquarters of the Commodity Futures Trading Commission. Your Reason has been Reported to the admin. Breaking news from the premier Jamaican newspaper, the Jamaica Observer. (iii) While the United States held the position of President of the 2020 G7, the UnitedStates established the G7 Digital Payments Experts Group to discuss CBDCs, stablecoins, and other digital payment issues. The New York Times World news RT International (c) This order is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person. The energy consumption of crypto has increased 900% over five years, reaching around 0.4% of worldwide electricity use, the commission said, promising another report on the topic by 2025 that could recommend further measures to cut crypto's energy use. Officials have taken a keen interest the energy consumption of proof-of-work technology that channels computing power to mine new bitcoin. The White House The Center for Strategic and International Studies announced yesterday the formation of its AI Council, a group of 17 thinkers co-chaired by top Accenture and Microsoft executives to etch out what corporate responsibility, international collaboration, and effective governance on AI looks like not only in principle, but in practice.. (iii) Within 180 days of the date of this order, the Attorney General, in consultation with the Secretary of the Treasury and the Secretary of Homeland Security, shall submit to the President a report on the role of law enforcement agencies in detecting, investigating, and prosecuting criminal activity related to digital assets. (c) The term cryptocurrencies refers to a digital asset, which may be a medium of exchange, for which generation or ownership records are supported through a distributed ledger technology that relies on cryptography, such as a blockchain. Jamaica Observer Entrepreneur Even a lot of "smart people" who "really understood the tech" got defrauded / hacked / rugpulled. (a) Financial regulators including the SEC, the CFTC, and the CFPB and Federal banking agencies play critical roles in establishing and overseeing protections across the financial system that safeguard its integrity and promote its stability. The White House Romeros voice is the latest in a chorus of regulators warning banks to tread lightly, largely inspired by the Financial Stability Oversight Council report published at the beginning of October, which recommended a legislative and regulatory flurry to alleviate risk in the system. EU lawmakers came close to amending crypto laws to impose what some characterized as a bitcoin ban, while in the U.S., the White House has called for new industry standards. Further, while the United States has been a leader in setting international standards for the regulation and supervision of digital assets for antimoney laundering and countering the financing of terrorism (AML/CFT), poor or nonexistent implementation of those standards in some jurisdictions abroad can present significant illicit financing risks for the United States and global financial systems. News The United States has an interest in responsible financial innovation, expanding access to safe and affordable financial services, and reducing the cost of domestic and cross-border funds transfers and payments, including through the continued modernization of public payment systems. News As a result, the people running these projects can, and sometimes do, get certified by more than one registry and then sell duplicate carbon credits for the same project. Many Americans are underbanked and the costs of cross-border money transfers and payments are high. Politics, world news, photos, video, tech reviews, health, science and entertainment news. Limit Or EliminateBiden Executive Order Triggers Shock U.S. SUBSCRIBE TODAY TO RECEIVE EXCLUSIVE COVERAGE. The EU is also developing an energy-efficiency label for blockchains as the disruption of gas supplies from Russia leave some fearing high energy prices, blackouts and shortages. A Microsoft 365 subscription includes premium Outlook features like an ad-free interface, enhanced security, the full desktop version of Office apps, and 1 TB of cloud storage. Latest news about bitcoin, ethereum, blockchain, mining, cryptocurrency prices and more Key findings include: Proposition 30 on reducing greenhouse gas emissions has lost ground in the past month, with support among likely voters now falling short of a majority. He says that he had profits of $20,000 in September half from mining, half from selling machines and trading in crypto. (a) The increased use of digital assets and digital asset exchanges and trading platforms may increase the risks of crimes such as fraud and theft, other statutory and regulatory violations, privacy and data breaches, unfair and abusive acts or practices, and other cyber incidents faced by consumers, investors, and businesses. Stay in touch with the whole team: Ben Schreckinger ([emailprotected]); Derek Robertson ([emailprotected]); Steve Heuser ([emailprotected]); and Benton Ives ([emailprotected]). 9. The report shall be coordinated through the interagency process described in section 3 of this order. 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