Washington, June 7 (IANS) Senior US banking regulators defended efforts to ease some post-crisis regulations and implement new rules for stablecoins during a contentious congressional hearing, while Democratic lawmakers warned that the changes could weaken safeguards designed to prevent future financial crises.The debate unfolded before the House Financial Services Committee this week as senior officials from the Federal Reserve, the Office of the Comptroller of the Currency (OCC), the Federal D…
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Washington, Feb 28 (IANS) US banking regulators defended sweeping efforts to recalibrate capital rules and formalise crypto oversight as senators clashed over Basel reforms, political “debanking” and consumer safeguards in a hearing with global implications for capital flows and digital finance.Senate Banking, Housing, and Urban Affairs Committee Chairman Tim Scott said regulation must focus strictly on financial risk.“No law — no lawful business in Anderson, South Carolina or anywhere in…