8 / 12 Relevant items tagged with #Congress

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Former US Secretary of Labor Robert Reich Urges Bypassing Congress to Raise Debt Ceiling

[May 11, 2023 2:30 AM] Robert Reich, former secretary of labor in the U.S., has called for the government to bypass Congress in order to raise the debt ceiling unilaterally. Reich states that the constitution of the U.S. gives President Biden the faculty of ignoring this…

Previewing Congress's Joint Crypto Regulation Hearing

[May 9, 2023 4:33 PM] Over the past several weeks, Congress – particularly the House Financial Services Committee – has held a number of hearings on crypto and its role in the world. Even a hearing supposedly focused on overseeing the U.S. Securities and Exchange…

US lawmakers introduce bipartisan bill proposing ban on members investing in ‘financial instruments’

[May 3, 2023 11:10 AM] Representatives Alexandria Ocasio-Cortez and Matt Gaetz — lawmakers diametrically opposed on a variety of issues — joined forces to stop congressional members from trading stocks.

Ron DeSantis Vows to Prohibit CBDC, ‘Woke Politics,’ and ‘Financial Surveillance’ in Florida

[May 2, 2023 7:30 PM] Florida governor Ron DeSantis reiterated his call for a ban on central bank digital currencies (CBDCs) during a visit to Jacksonville on Tuesday. Last March, DeSantis pushed for legislation to prohibit a CBDC in Florida. At Tuesday’s event called…

US congressmen chide presidential advisers over crypto stances in economic report

[May 2, 2023 2:58 PM] The legislators objected to a chapter of the president’s annual report that they believe diminished the role of Congress and could damage the economy with its hostility to digital assets.

What the Gensler hearing means for US crypto regulation and policy

[May 1, 2023 7:56 AM] Gensler was reluctant to go into details and faced symbolical pressure rather than genuine attempts to interrogate, leaving the crypto industry without any new clarity.

U.S. House Will Have Crypto Bill in 2 Months: McHenry

[Apr 28, 2023 4:32 PM] AUSTIN, Texas – The U.S. House Financial Services Committee and House Agriculture Committee will put together legislation to oversee the crypto sector in the "next two months" after holding joint public hearings starting May, said Patrick McHenry…

US House committees hear similar testimonies in simultaneous hearings on digital assets

[Apr 27, 2023 2:29 PM] A range of speakers addressed issues like agency turf wars and regulator fitness in hearings on regulatory gaps.

Reintroduced Congressional Bill Would Call for Feds to Study Terrorist Uses for Crypto

[Apr 27, 2023 8:00 AM] A bipartisan bill introduced simultaneously to the House and Senate would call for federal agencies to study the possible criminal uses for crypto, and provide a report with recommendations on how to address these concerns.

US House Financial Committee Republicans look for records to show crypto debanking

[Apr 26, 2023 7:48 PM] The lawmakers see a “coordinated strategy” to deny the digital asset industry access to banking that is not related to a desire to protect banks.

Lack of stablecoin regulation could push issuers out of US — Austin Campbell

[Apr 19, 2023 2:15 PM] Lawmakers didn’t reach a consensus between political parties on a stablecoin bill, with one witness warning that this lack of regulatory clarity could drive certain projects abroad.

Hong Kong Judge Rules Crypto Assets as ‘Property,’ Following Similar Rulings Worldwide

[Apr 19, 2023 1:30 PM] In a court case linked to the now-defunct crypto exchange Gatecoin, a Hong Kong judge has ruled that cryptocurrencies are “property” which is “capable of being held on trust.” According to the law firm Hogan Lovells, this…

Democrats Blast Draft Stablecoin Bill in First 2023 Hearing on Issue

[Apr 19, 2023 8:44 AM] Despite Republican House committee leaders publishing a draft bill and talking about progress, it hasn't been on the bipartisan level required for an eventual law, lawmakers said in a hearing Wednesday.

The Big Issues of Stablecoin Issuance

[Apr 19, 2023 8:29 AM] Here are the key issues as the House Financial Services Committee hears testimony about stablecoin regulation.

Speakers prepare to tell US House Financial Services Committee about stablecoins

[Apr 18, 2023 3:29 PM] Five experts will testify at a hearing titled “Understanding Stablecoins’ Role in Payments and the Need for Legislation,” with two of them releasing their scripts in advance.

Crypto Companies May Use a Supreme Court Doctrine to Push Back Against SEC: Lawyer

[Apr 18, 2023 1:02 PM] Crypto firms are using the major questions doctrine as a way to fend off regulators, Jason Gottlieb, a partner at Morrison Cohen LLP, said.

US House committee chair repeatedly presses SEC chair: 'Is Ether a commodity or a security?'

[Apr 18, 2023 9:24 AM] Securities and Exchange Commission chair Gary Gensler has said the SEC considers Bitcoin a commodity, but refused to pin down Ether at an oversight hearing.

Congressional Republicans Criticize SEC Chair Gary Gensler's Crypto Approach Ahead of Hearing

[Apr 18, 2023 7:56 AM] Republicans on the House Financial Services Committee sent a letter criticizing Securities and Exchange Commission Chair Gary Gensler and his repeated entreaties to crypto companies to "come in and register" moments before a congressional hearing…

All eyes are on stablecoins: Law Decoded, April 10–17

[Apr 17, 2023 1:00 PM] A week before a hearing in Congress, the United States gets stablecoin regulatory framework.

Draft U.S. Stablecoin Bill Shows Major Difference Between Stablecoins and CBDCs

[Apr 17, 2023 11:44 AM]

Thanks Sam! How FTX Led to World’s Worst Crypto Policy

[Apr 7, 2023 9:00 AM] Washington’s “war in crypto” continues to occupy minds in the crypto industry. This week, CoinDesk Chief Content Officer Michael Casey tackles the apparent rise in hostility from U.S. regulators from a different angle: revenge.

The Crypto Industry Needs to Fix Itself Before It Can Progress

[Apr 3, 2023 8:36 AM]

FTX’s Bankman-Fried Is Allegedly Using Alameda Funds to Pay for Legal Defense

[Mar 29, 2023 4:00 PM] According to two sources close to FTX, Sam Bankman-Fried, the disgraced co-founder, gave his father, Stanford Law professor Joseph Bankman, millions of dollars. The funds are reportedly being used to pay for legal costs. The sources said that…

FDIC plans to return $4B in Signature crypto deposits 'by early next week' — Martin Gruenberg

[Mar 29, 2023 3:00 PM] The Treasury Department's Under Secretary for Domestic Finance Nellie Liang said at the same hearing she didn’t believe crypto “played a direct role” in the failure of the banks.

Former CFTC Chair Giancarlo: A Privacy-Protecting U.S. CBDC Could ‘Take Over the World’

[Mar 27, 2023 1:28 PM] If the U.S. were to design a digital dollar that protects the privacy of its users and is free of surveillance tools, it could reach mass adoption, the Digital Dollar Project co-founder said.

Ted Cruz and Ron DeSantis take on the ‘digital dollar’: Law Decoded, March 20–27

[Mar 27, 2023 12:30 PM] Two lawmakers in one week weighed in against the possibility of a United States central bank digital currency.

Treasury Secretary Yellen Holds Unscheduled Meeting With Top Financial Regulators Amid Turmoil in Banking Sector

[Mar 24, 2023 11:30 AM] U.S. Treasury secretary Janet Yellen initiated an unscheduled Financial Stability Oversight Council (FSOC) meeting with the country’s top financial regulators on Friday amid issues plaguing the U.S. banking sector. Banking stocks and all four U.S…

US lawmakers reiterate concerns about 'sham' crypto firm audits to PCAOB

[Mar 22, 2023 1:35 PM] Two U.S. senators cited the collapse of FTX when writing to the PCAOB chair Erica Williams in January, but now suggest improper auditing could have affected three banks as well.

Congressional privacy proposals could kill scores of blockchain projects

[Mar 21, 2023 9:07 AM] Lawmakers may be on the brink of scaring blockchain projects into moving offshore or causing them to shut down altogether.

In the aftermath of banks’ horrorshow: Law Decoded, March 13–20.

[Mar 20, 2023 2:30 PM] A week after the twinning collapse of Silicon Valley Bank (SVB) and Signature Bank, and the trouble at Credit Suisse, the dust is slowly settling down.