By Michael Pflueger Introduction After the collapse of the Bahamas-based cryptocurrency exchange, FTX, Congress has been under immense public pressure to pass legislation that regulates the digital asset industries.[1] As of right now, there is no specific agency designated to regulate digital assets. This led several departments to supervise the digital asset industries. With that in…
Tag: Federal Reserve
A Changing of the Guard at Wells Fargo—But What Has Changed?
In the wake of its consumer abuses, including the creation of millions of unauthorized accounts, Wells Fargo is desperately attempting to clean up its image and instate a series of protocols to avoid such issues in the future.1 Recently, the Federal Reserve (“Fed”) ordered the San Francisco-based bank to cap its growth and improve its…
Wells Fargo’s Punishment: A New Approach to Corporate Governance or Just a Mirage?
Wells Fargo Co., one of the largest banks in the United States, has been punished by multiple government actors for its allegedly deceptive banking practices dating back to 2011.1 From 2011 to 2015, the bank’s employees opened roughly 1.5 million new bank accounts and applied for 565,000 credit card accounts that may not have been…
Differences between the Bitcoin System and the U.S. Monetary System
The Bitcoin system provides rules and features that have a divergent effect from those of the U.S. monetary system. Although the Bitcoin system provides some advantages, it does not provide a solution to every deficiency of the U.S. monetary system. Following are some differences, advantages, and disadvantages between the Bitcoin system and the U.S….