congress

Good for Bitcoin? US Senate rejects stimulus without $1,200 checks

The United States Senate rejected the new stimulus proposal on Sep.10, which did not include a new round of $1,200 checks. However, this boosts the chances of a new proposal with individual checks getting approved, and could serve as a catalyst for Bitcoin (BTC). Why was the stimulus proposal rejected, and why could it be …

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US Lawmakers Don’t Want Proof-of-Stake Networks to Get Overtaxed

Crypto holders earning new tokens by staking their coins might be at risk of being overtaxed, believe several members of Congress. Four lawmakers wrote a letter to the Internal Revenue Service Wednesday, asking the U.S. tax agency to ensure stakers don’t face tax liabilities for receiving block rewards before they sell their new tokens. The …

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In the Aftermath of Hack, Lawmakers Blame Twitter, Not Bitcoin

Wednesday’s Twitter hack would seem to  spell regulatory doom for Bitcoin, which is widely distrusted in Washington. Some lawmakers – and U.S. President Donald Trump himself – associate it with crime. In 2019 Trump tweeted he is not a fan of bitcoin and that “unregulated crypto assets can facilitate unlawful behavior.” He also reportedly told Treasury …

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Major Lobbyists in DC See a Shift in Regulatory Tone Towards Crypto Since Pandemic

Speaking with Circle’s Jeremy Allaire on July 16, several key figures in lobbying on behalf of crypto and blockchain in Washington, D.C. spoke to a major rise in education and interest in the sphere on the part of regulators. Coronavirus to digitization Perianne Boring, the founder and president of the Chamber of Digital Commerce, pointed …

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Fed Chair on CBDC: ‘We Need to Understand It First and Best’ — But Is He Too Late?

In a hearing on June 17 before the House Committee on Financial Services, Chairman of the Federal Reserve Jerome Powell got into an exchange with Representative Tom Emmer (R-MN) over the subject of a central bank digital currency.  Is there any progress on the digital dollar? Emmer asked “What substantive recent actions has the Fed …

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US Financial Services Committee Hearing Discussed the Creation of a ‘Digital Dollar’

2 Swiss Banks Launch Cryptocurrency Trading and Custody After Gaining Regulatory Approval Switzerland’s financial regulator, FINMA, has approved two Zurich-based banks to offer a range of cryptocurrency services, including trading and custody. Maerki Baumann Bank subsequently announced the launch of its trading platform for major cryptocurrencies while Incore Bank is offering a … read more. …

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COVID-19 privacy protection bill introduced with bipartisan support

Enlarge / A global pandemic is no excuse for sticking your nose in other people’s private data. Getty Images A group of lawmakers from both parties is putting forth legislation that aims to protect Americans’ privacy and personal data while advancing public health initiatives in the face of COVID-19. Well over 100,000 people in the …

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Congress Fears US Is Losing Battle to Malware and Darkweb Cyberweapons

In a May 28 virtual roundtable before the congressional Subcommittee on National Security, International Development and Monetary Policy, witnesses and congresspeople alike feared that they are not keeping up with criminals hacking the financial system. Criminals have better resumes than government agents One witness, Guillermo Christensen, a partner at law firm Ice Miller, admired the …

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In Congress, a New Bill Asks for Mass Survey of Blockchain Technology in the US

On May 19, Representative Brett Guthrie (R-KY) introduced the “Advancing Blockchain Act.” Per a May 18 draft of the legislation obtained by Cointelegraph, the bill asks the Federal Trade Commission and the Secretary of Commerce to put together a new survey of blockchain’s uses and the state of adoption in the United States. Establishing jurisdictions …

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US Lawmaker Proposes Legislative Groundwork for National Blockchain Strategy

A U.S. lawmaker wants the federal government to begin considering a national blockchain strategy. On Tuesday, U.S. House Rep. Brett Guthrie (R-Kent.) introduced a bill calling on the Federal Trade Commission (FTC) to survey the prevalence of blockchain technologies across industry, government and the globe. CoinDesk obtained a draft version of the bill, HB6938, which …

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