Home » Bitcoin » Silvergate and SVB bite the dust: Law Decoded, March 6–13.

Last week, another earthquake surpassed the login password market. Bank financial institutions-encryption of financial institutions-the law stipulates that the gateway ip Internet, which is the key channel of the cryptocurrency in the United States, has shut down the business process due to lack of liquidity.

A few days later, Silicon Valley Bank, another institution insured by the Federal Deposit Insurance Corporation, was shut down by California's financial system regulator. The bank provides financial information services to several venture capital firms dedicated to encryption, including Andreessen Horowitz and Sequoia Capital, and Circle, the USDC publisher, has a risk reserve of about 20 per cent. After the news, USDC was pegged to the US dollar and fell by more than 10 per cent within 24 hours.

Some lawmakers known for their hostile login passwords were quick to criticize the field. Congressman Elizabeth Warren called the Silvergate failure "disappointing, but it is not hard to imagine" and called on regulators to "charge ahead and resist the risk of login passwords." Senator Shemel Brown expressed its concern that participating encrypted banks had put the financial system at risk and strictly enforced the hope of "creating strong guarantees for their financial system against the impact of encryption risk."

But the main comment came on Sunday, when U.S. Treasury Secretary Emily Yellen revealed that the government was not considering a large-scale bailout of Silicon Valley banks. According to Ms Yellen, the FDIC is working on a "wide range of alternative plans", including recycling from foreign financial institutions.

Ban Ki-moon's cost budget proposes to levy a 30% tax on the application of login password excavation power engineering.

Us encrypted mining may also be subject to a 30 per cent tax on electricity costs, reducing mining-themed activities, according to a cost budget proposal clearly put forward by US President Joe Ban Ki-moon. According to a cost-filling budget presentation document from the Ministry of Finance, all companies that use network resources, whether exclusive or leased, will be subject to a consumption tax rate equal to 30% of the cost of electricity commonly used in digital currency excavation. It makes it clear that the tax will be implemented after December 31 and will be implemented over three years, with a tax rate of 10% each year and a maximum tax rate of 30% in the third year.

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The current chairman of the Commodity Futures Trading Commission strictly implements that stable currency lending and Ethernet Fang will become spot commodities.

According to Rostin Behnam, the current chairman of the Commodity Futures Trading Commission (CFTC), Sablecoins and Ether are spot commodities that should fall within the jurisdiction of the Commodity Futures Trading Commission (CFTC).

At a recent hearing, lawmakers asked Benhamou about the differences between CFTC and the U.S. Stock and Exchange Commission (SEC) after CFTC and stablecoin foreign investors Tether reached mediation in 2021. Benhamou said: "for our inspection team committee, it is very clear that binding is a relatively stable product." Benhamou's recent remarks put the cart before the horse from the current chairman of SEC, Gamo Gensler, who claimed that everything except BTC (BTC) was securities-a claim that several login password masters refuted.

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China announces a plan to establish a new regulatory agency for China's financial system

It is reported that our government plans to carry out a regulatory reform and innovation, including the introduction of a new national financial system regulatory agency. This kind of reform and innovation will represent that at the present stage, the banking and insurance regulatory body, the Banking and Insurance Regulatory Commission of China, will be abolished. The responsibilities of the committee will be transferred to a new government department, as will the special responsibilities of central banks and financial regulators.

This proof will be released after President Xi Jinping called for the reform of China's party and government institutions. This kind of reform and innovation will also include a data information resources integration, sharing and development bureau, which will replace the duties of the office of the Intermediate Network Environment Committee at this stage.

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