The dust settled a week after the collapse of Silicon Valley Bank (SVB) and signature Bank (Signature Bank), and a week after Credit Suisse got into trouble. SVB Financial Group has submitted a voluntary application to the US bankruptcy court for restructuring under court supervision under Chapter 11 of the bankruptcy law. The company is no longer part of Silicon Valley Bank, which operates under the jurisdiction of the Federal Deposit Insurance Corporation (FDIC) and is not included in Chapter 11 bankruptcy filings. Meanwhile, HSBC bought the UK arm of the bank for £1.

Congress announced that it would hold hearings on the bankruptcy of SVB and Signature Bank on March 29th. Martin Glenberg, chairman of FDIC, and Michael Barr, vice chairman of Fed regulation, are expected to appear before lawmakers to help them understand the nature of the current crisis.

The American Federation of medium Banks (MBCA) requires federal regulators to insure all deposits over the next two years. According to the union, extending insurance for "all deposits" would "immediately stop" the outflow of deposits from small banks and stabilize the industry. That sounds logical because, from an economist's point of view, more than 186 US banks are ready to fail.

Wyoming passed a bill to protect private keys.

Mark Gordon, the governor of Wyoming, has signed a bill banning mandatory disclosure of private keys to protect the privacy of owners of digital assets. Our TTS in Wyoming will no longer force individuals to provide access to any private keys that allow access to their digital assets, digital identities, or any other benefits or rights offered by their private keys. The only exception to the Act applies where individuals are required to disclose the ownership or transfer of passwords during any legal proceedings.

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Binance-Voyager transactions will be conducted without holding

The Southern District Court of New York rejected the reason for the US government to stop Binance.US from buying Voyager Digital, a bankrupt brokerage. According to Judge Michael Wiles, any delay in the deal would hurt Voyager's former clients, who are waiting for the money to be returned. As a result, Wiles reiterated his prior approval of Voyager Digital's bankruptcy plan, which proposes to sell billions of dollars of assets to Binanc.US to regain liquidity and repay clients.

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Euro Parliament approves data Act

The European Parliament passed the data bill, which aims to "promote innovation by removing barriers to access to industrial data". The legislation sets out rules for the fair sharing of data generated by "interconnected products or related services" such as the Internet of things and industrial machines. The bill also gives smart contracts the same protection as other forms of contracts, which is bad for the industry because it undermines guarantees of immutability.

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