US Congress

A recent move was the introduction of the Digital Asset Anti-Money Laundering Act, another bill aiming to curtail the use of cryptocurrencies in America. On Dec. 11. the bill gained five new Senators as cosponsors, including, unsurprisingly, three members of the Banking Committee.  Crypto advocate Evan Van Ness posted a list of Senators he claimed...Read More

The House Financial Services Committee (HFSC) approved a slew of proposals related to digital asset regulation last month, of which any could be the first piece of crypto-specific legislation signed into U.S. federal law. Here’s a summary of the differences between the most important bills, and what each could mean for crypto as a whole....Read More

U.S. Congress undertook its first-ever markup for digital asset legislation on Wednesday, attempting to establish clear jurisdiction for the nation’s chief market regulators. The bill was not well received by Democrats, however, many of whom find it overly friendly to the crypto industry, and similar to what disgraced FTX boss Sam Bankman-Fried had advocated for....Read More

Bitcoin-friendly Republican Senator Cynthia Lummis doesn’t think the Biden Administration’s proposed 30% excise tax on Bitcoin miners isn’t likely to make it through the House.  On stage at Bitcoin Miami 2023, the politician remained supportive of miners, and believes the industry’s proliferation throughout the United States is a matter of national security.  Mining: Dirty or...Read More

Republican Senator John Kennedy of Louisiana called banks “sophisticated Ponzi schemes” while discussing the US banking crisis that’s claimed multiple crypto-supportive financial institutions in the past two months.  The politician also spoke on the state of inflation, which he believes the Federal Reserve will need to bring to at least 8% to cool down.  Banks...Read More

Former presidential candidate and political commentator Tulsi Gabbard is taking a stand against the Biden administration’s plans to develop a Central Bank Digital Currency (CBDC) in the United States.  The ex-congresswoman argued on Sunday that CBDCs will be used as tools of mass financial surveillance that “undermine our autonomy and freedom.”  Standing Against a Cashless...Read More

A cohort of the United States Senate is questioning crypto bank Silvergate about its knowledge of the FTX fraud, after finding responses to prior questioning “evasive” and “incomplete.” The senators suspect that Silvergate may have played a role in illegally transmitting FTX user funds to Alameda Research through the trading firm’s accounts with the bank. ...Read More

U.S. Senator and chairman of the Senate Banking Committee, Sherrod Brown (D-OH), spoke on Sunday about what actions regulators need to take after the implosion of FTX.  He suggested that crypto may be something that “ought to be banned” if not for the risk of sending the industry offshore.  Banning Crypto Speaking with NBC’s Chuck...Read More

Tom Emmer – the U.S. congressional representative for Minnesota – recently spoke on the political meetings and failures surrounding Sam Bankman-Fried (SBF), prior to his exchange’s collapse.  The Republican suggested that Bankman-Fried tried currying “special treatment” from the Securities and Exchange Commission (SEC) through meetings with the agency, and attempted to push legislation to the...Read More

The House Financial Services Committee has pushed back its long-awaited stablecoin bill to September following objections from Treasury Secretary Janet Yellen. This will delay congressional discussions on the subject until after the August recess, which ends on September 5th.  Stablecoins and Bankruptcy The legislation – negotiated between Committee Chair Maxine Waters (D-Calif) and Patrick McHenry...Read More

Wealthy members of the crypto industry including brokers, venture capitalists, and investors have contributed over $52 million in political donations during this midterm election cycle. Half of those funds arrived in May alone, with the largest crypto donor of the month targeting Republican candidates. Crypto Reaching Into Politics As reported by Bloomberg on Tuesday, some...Read More

Massachusetts Senator Elizabeth Warren is leading the charge against crypto once again. In a video posted on Dec. 15, she said that stablecoins pose risks to consumers and the economy because they are “propping up one of the shadiest parts of the crypto world, DeFi, where consumers are least protected from getting scammed.” It is...Read More

Congresswoman Maxine Waters, Chairwoman of the House Committee on Financial Services, announced that the hearing will take place on Dec. 8. Titled “Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States,” the assembly aims to demystify some of the misconceptions lawmakers have regarding the crypto...Read More

The $1 trillion bipartisan infrastructure bill will be put to the vote on Sept. 30, and the House Speaker is confident it will pass. In a letter released by her office on Sunday, Pelosi said that there will be 4 days of debate before the legislation, which will help fund road, bridge, airport, school, and...Read More

The Biden administration reportedly plans to take severe measures on the use of digital assets in ransomware attacks by starting to track such transactions. Crypto Tracing to Combat Cyber Attacks The governing body of the USA discussed how to combat the growing number of ransomware attacks during a virtual briefing with members of Congress. According...Read More