According to the New York Times, with more companies offering cryptocurrency loans and high-yield deposit accounts Washington is worried about how this might disrupt the banking industry with a lack of regulations.
- Which company was mentioned in the article as aspiring to be the J.P. Morgan Chase of cryptocurrency?
- What crypto platform temporarily lost $600 million of customer assets last month to hackers?
- What is the SEC doing about investigating cryptocurrency and other digital assets?
- What are “syrup pools”?
- In your opinion, what was the most interesting information in this article?
Lipton, E. and E. Livni (2021). Crypto’s Rapid Move Into Banking Elicits Alarm in Washington. New York Times, Sep. 5 (Retrievable at https://www.nytimes.com/2021/09/05/us/politics/cryptocurrency-banking-regulation.html)