Congressional leaders are pressing regulators over concerns that the U.S. Securities and Exchange Commission (SEC)’s new guidelines on digital asset custody could disrupt financial innovation and regulatory collaboration. Lawmakers question whether the SEC acted prematurely, potentially jeopardizing efforts to safeguard digital assets through coordinated agency work. They demand more transparency on the SEC’s actions and…
Read more
Congressman Tom Emmer is pushing the U.S. Securities and Exchange Commission (SEC) to provide clear rules on digital asset airdrops, arguing that current regulatory uncertainty is stifling innovation and blocking American participation in blockchain projects. He emphasized the importance of airdrops in decentralizing networks and shaping the future of blockchain, criticizing the SEC’s approach under…
Read more
Congressman Patrick McHenry says bitcoin is unstoppable and every regime that’s tried to shut it down has failed. He emphasized that the U.S. must become a leader in digital assets, noting that two congressional bills offer a path toward clear regulations. Two Pieces of Legislation Could Provide Greater Clarity in Digital Assets Congressman Patrick McHenry…
Read more
Four U.S. lawmakers have pressed Treasury Secretary Janet Yellen regarding crypto oversight gaps. The Financial Stability Oversight Council (FSOC), which Yellen chairs, has issued “repeated warnings about the lack of oversight of the digital asset markets,” the lawmakers detailed, questioning Yellen how the council believes existing laws should apply bitcoin, ether, and non-security crypto assets.…
Read more
Leading members of the U.S. House Financial Services Committee, Chairman Patrick McHenry, Subcommittee Chairman French Hill, and Representative Mike Flood, have requested an extension of the public comment period for the CFPB’s proposed rule on digital consumer payment applications. This request centers on the committee’s concerns over the rule’s potential impact on the digital asset…
Read more
Tom Emmer has been “making calls” to secure a nomination for the speaker role, and it could be a boon for the crypto sector if he were to be voted in. Crypto-friendly Republican Representative Tom Emmer is pursuing a nomination to become speaker of the United States House of Representatives, with the 62-year-old receiving endorsement…
Read more
Eight Republicans voted against Republican Representative McCarthy, making it the first time in U.S. history that the House Speaker has been ousted by Congress. United States Representative and crypto-friendly lawmaker Patrick McHenry has been appointed as interim House Speaker after the high-profile ousting of U.S. House speaker Kevin McCarthy. McCarthy’s ousting came after a 216-210…
Read more
The U.S. SEC chief was asked whether the purchase of Pokemon trading cards is a security transaction and whether Bitcoin is a commodity. Blamed for “kneecapping” capital markets in the United States and slammed for dodging questions around Bitcoin (BTC) and Pokemon cards, Securities and Exchange Commission Chair Gary Gensler appears to have had one hell…
Read more
A number of U.S. lawmakers have urged regulators, including the Securities and Exchange Commission (SEC), to work with Congress on crypto regulation. “Chair Gensler’s regulation by enforcement is unlawful and does nothing to protect consumers. It’s time for Biden’s regulators to work with Congress to provide clear rules of the road and robust consumer protections…
Read more
Members of the U.S. Congress have expressed concerns about the possible problems that implementing the newly proposed crypto tax reporting requirements could create in the entire industry. Patrick McHenry, Cynthia Lummis, and others reacted differently to the potential effects of these proposals on decentralized finance platforms and stablecoins. U.S. Congress Members Concerned Over New Tax…
Read more
