The House Agriculture and Financial Services Committees have been working together all year on a bill to rival Lummis and Gillibrand’s Responsible Financial Innovation Act. A bill to create a regulatory framework for digital assets has been introduced by Republican members of the Agriculture and Financial Services Committees of the United States House, the result…
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The bill was introduced in the evening and has not been published yet, but it is already causing a stir. Crypto Twitter calls it a “nonstarter.” United States Sen. Jack Reed sponsored a bipartisan bill introduced into the Senate on July 18 that would tighten Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations and…
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Blockchain Australia, the country’s peak crypto industry body has announced a new CEO who wants to speed up the crypto regulatory process. Blockchain Australia’s new CEO Simon Callaghan hopes the Federal Government will take its cues on crypto regulation from the United Kingdom, Hong Kong, and Singapore — and definitely not the United States. In…
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A member of the eurozone is amending its constitution in order to guarantee citizens the right to cash payments. The move comes amid growing fears that a digital version of the common European currency may eventually become the only means of payment in the eurozone, despite currently being touted as merely an alternative. Lawmakers in…
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International cooperation is necessary to regulate crypto conglomerates, according to the head of the central bank of France. Speaking at a tech forum in Paris, Governor Villeroy de Galhau also suggested that a new version of the EU’s recently adopted crypto law may be needed to deal with the issue. Regulation in Single Jurisdiction Insufficient…
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US House Financial Services Committee Chair Patrick T. McHenry plans to hold a vote on a bill that would regulate digital assets by mid July. The draft legislation in question, the Digital Asset Market Structure Discussion Draft, would classify cryptocurrencies as a security or a commodity and regulate exchanges among other measures…. Read More: House…
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Warren Davidson, the Republican congressman who first introduced the legislation in mid-April, has filed the SEC Stabilization Act to remove Gary Gensler, the current chair of the U.S. Securities and Exchange Commission (SEC). Davidson insists the act aims to safeguard U.S. capital markets “from a tyrannical chairman.” Legislation Filed to Remove SEC Chair Gensler in…
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The House Financial Services Committee under its Republican leadership has dropped a new version of its stablecoin bill after receiving feedback from its Democratic members. The bill, which is still a discussion draft, would regulate payment stablecoins specifically, and would allow state regulators to supervise stablecoin issuers, with federal regulators having a primary role by…
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US Commodity Futures Trading Commission Chair Rostin Behnam pushed back on assertions that his agency would be a “light touch regulator” for cryptocurrency, following an eventful week and as lawmakers contemplate legislation to regulate the industry. Behnam was asked on Tuesday during a House Agriculture Committee hearing on opinions that the CFTC is seen as…
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The US Commodity Futures Trading Commission Chair Rostin Behnam, Coinbase’s Chief Legal Officer Paul Grewal and a slew of former regulators are set to testify Tuesday morning in front of a US congressional committee. The House Agriculture Committee will meet to discuss legislation to regulate cryptocurrencies and hear from Behnam, Grewal and former CFTC Chair…
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