Patrick Toomey News

Coinbase has expanded its Global Advisory Council with four national security experts, it announced on Nov. 7. The new members will help the cryptocurrency exchange assess the impact of regulatory uncertainty in the United States.

Legislation forcing TikTok’s parent company to sell the video-sharing platform or face a ban in the U.S. has received President Joe Biden’s official signoff

Osborne, who was chancellor between 2010 and 2016, joins the US giant as it looks to expand internationally and faces up to a host of regulatory challenges, including an SEC lawsuit claiming it has operated its crypto asset trading platform as an unregistered national securities exchange, broker and clearing agency. Osborne was onstage as moderator last year when Coinbase CEO Brian Armstrong made headlines for suggesting the company could move its headquarters out of the US over regulatory frustrations. Says the ex-chancellor: "There’s a huge amount of exciting innovation in finance right now.

The administration of President Joe Biden has recently released a regulatory framework for digital assets, but key participants in the space do not believe it adequate.

The Virtual Currency Tax Fairness Act of 2022 was introduced into the United States Senate on Tuesday by the bipartisan team of Senators Patrick Toomey and Kyrsten Sinema. The bill is a companion to the one already before the House of Representatives, although it differs in one key detail.

A collective comprising 26 IT experts and professionals has slammed crypto, accusing blockchain and crypto of “not being decentralized” – and has petitioned United States politicians to crack down on the sector and its lobbyists.

The United States continues to be a global leader in embracing the cryptocurrency industry thanks to the work of Sen. Patrick Toomey, with the White House being at the forefront of crypto regulation. Last year, President Joe Biden signed a $1.2 trillion bipartisan infrastructure bill — and it included some new legislation that would impact the crypto sector. And more recently, the U.S. president announced a “whole-of-government” approach to regulating cryptocurrency in an across-the-board executive order directing multiple government agencies to answer specific questions on cryptocurrencies. The U.S. for the last year has clearly been seeking to help make the crypto industry more sustainable, which will make it significantly easier for cryptocurrency platforms to operate.

Senate Republicans on Thursday peppered the nominee to be the Federal Reserve's top banking watchdog with questions over whether she would steer the institution into climate change and other areas outside of its mandate.

During Jerome Powell’s Jan. 11 United States Senate confirmation hearings, Sen. Patrick Toomey posed a question to the incumbent-and-future Federal Reserve chief: “If Congress were to authorize and the Fed were to pursue a central bank digital dollar, is there anything about that that ought to preclude a well-regulated privately-issued stablecoin from co-existing with a central bank digital dollar?”