Cryptocurrency Archives - Page 3 of 3 - Americans for Financial Reform

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News Release: Statement in Response to Biden Administration Executive Order on Digital Assets

“The administration’s order includes the recognition that the rapid growth of digital assets as instruments for financial speculation is creating a wide range of serious risks and harms for consumers, investors, and the public at large. It is important that the order recognizes and articulates a set of these risks, and a whole of government approach can help address the scale and scope of the potential harm. It will be important for the studies authorized by the order to generate useful data and momentum for decisive regulatory action,” said Mark Hays, senior policy analyst with AFR and Demand Progress.

Event: AFR’s Andrew Park Speaks on Crypto’s Rapid Rise – The Future of Finance or Cause for Concern

Americans for Financial Reform’s Andrew Park spoke on the “Crypto’s Rapid Rise: The Future of Finance or Cause for Concern” panel at the Consumer Federation of America Virtual Financial Services Conference.

News Release: Statement on Facebook’s Scaling of Cryptocurrency Efforts

Following reports that Facebook is scaling up its cryptocurrency efforts with the launch of a pilot of its cryptocurrency wallet “Novi”, Demand Progress Education Fund and Americans for Financial Reform Education Fund released the following joint statement.

Letters to Congress: Statement to House Financial Services Committee on Facebook Libra Proposal

The AFR Education Fund sent a statement for the record to the House Financial Services Committee concerning Facebook’s proposal for the Libra digital token and payment system. The statement describes ways in which Facebook is attempting to create an unregulated financial product of potentially global scale and the dangers this would pose to the users of the token and the broader financial system.