Operation Chokepoint 2.0 Nearing Its Conclusion? 🤔
US House committees plan to regulate crypto in 2 months after May hearings.
Rep. Patrick McHenry recently spoke on crypto legislation progess. The U.S. House Financial Services Committee and House Agriculture Committee will put together legislation to oversee the crypto sector in the "next two months" after holding joint public hearings starting in May. The former believes President Biden will have signed the first bill into law directly forming rules around cryptocurrency within the next 12 months.
PBN Research
JPMorgan to Takeover First Republic Bank
https://cryptoslate.com/jpmorgan-to-takeover-first-republic-bank/
According to a May 1 statement, the Federal Deposit Insurance Corporation (FDIC) said it was appointed as the receiver of the First Republic Bank after it was closed by California’s Department of Financial Protection and Innovation.
“All depositors of First Republic Bank will become depositors of JPMorgan Chase Bank, National Association, and will have full access to all of their deposits.”
FOMC Meeting
https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm
Scams cost crypto investors millions in April 2023: Report
https://ambcrypto.com/scams-cost-crypto-investors-millions-in-april-2023-report/
The $74 million lost to crypto exploits accounted for more than half of the total $145 million lost since the beginning of 2023. The funds lost to flash loan attacks reduced by a whopping 90% as compared to March.