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Patrick McHenry: crypto legislation put together over next two months

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McHenry is even hopeful of getting President Joe Biden to sign off on the bill over the next 12 months

The U.S. House Financial Services Committee will put together legislation to oversee the crypto sector in the “next two months”.

Congress has so far been unable to get comprehensive legislation on crypto passed, despite a number of bills making progress on Capitol Hill last year.

The Committee Chair, Patrick McHenry, is even hopeful of getting President Joe Biden to sign off on the bill over the next 12 months.

“What we plan to do over the next two months is report a deal out,” McHenry said at Coindesk Consensus 2023.

“We’re going to have public hearings for the next couple of months and build out a bill that does what’s necessary to bring clarity to digital assets.”

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Is the metaverse the future of social network?

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U.S. firms like Meta, the parent company of Facebook and Microsoft are going all in on the metaverse. Meanwhile, Chinese companies appear to be taking a more cautious approach amid tighter regulation.

 
#metaverse #china #unitedstates #tech #veronicadudo #ozsultan #crypto

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Who will win the global metaverse race?

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China is looking to invest in the metaverse market as numerous cities rollout policy proposals.

Technology continues to change our lives forever.

As new advancements are released to the public—safety continues to be a major concern.

People are interacting with computers in a different way, with the word Metaverse becoming a buzzword in both the tech and business industries.

While the term, “metaverse” is broad, it refers to a set of digital spaces online—including 3D—that allows people to do many things from socializing and learning to interacting and collaborating.

Analysts say it’s the next evolution in social connection and the successor to the mobile internet.

According to Morgan Stanley, the metaverse market could be worth $8 trillion in the future.

China’s technology giants are investing in the metavese and recently, numerous Chinese cities have announced policy proposals to attract and support metaverse companies.

This comes after tense year of regulatory scrutiny on the countries tech sector.

The Chinese city of Zhengzhou recently announced a series of policy proposals to support metaverse companies operating in the region.

The initiative involves the municipal government establishing a nearly $1.5 billion dedicated fund in an effort to foster growth and development in the industry.

So, is the metaverse taking the world by storm?

Oz Sultan from the Sultan Interactive Group joins us to discuss. #china #metaverse #veronicadudo #ozsultan #regulation #crypto #tech

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North Korean hacker groups steal billions in crypto assets

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G7 finance ministers are supporting measures to counter growing threats in the crypto space

 
Hacker groups associated with North Korea have stolen over $700 million worth of crypto assets since 2017 from Japanese firms and businesses.

The amount equates to 30 per cent of the total of such losses globally.

This comes on the back of G7 finance ministers supporting measures to counter growing threats.

In total, hackers has stolen a total of $2.3 billion in cryptocurrency from businesses between 2017 and 2022.

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