Congress Financial News

10.01 / 20:35

Government Law Congress Law Decoded: Looking ahead to 2022, Jan. 3–10

As Alex Tapscott put it, 2021 was the year when many governments and lawmakers began to finally wake up to the transformational potential of blockchain technology. Indeed, crypto’s global mainstreaming and growing market capitalization have made it difficult for the agents of power to ignore it and have rendered it a salient economic, social and political issue across many key jurisdictions. By all appearances, we are in for a busy year in crypto regulation and policymaking.

08.01 / 18:15

Adoption Congress ConstitutionDAO, a ‘crypto red alert’ and other cases of crypto-powered social action in 2021

From the very beginning of the cryptocurrency movement, the societal potential of Bitcoin (BTC) has been one of the fundamental selling points. The decentralized design of crypto-based systems introduces the possibility of bringing individuals together to work toward shared goals, as well as enabling them to pool resources while remaining insulated from outside control. 2021 saw a number of cases that could serve as evidence of this emancipatory power of digital assets.

27.12 / 20:29

SEC Congress regulatory Law Decoded: Three regulatory trends of 2021, Dec. 20–27

It is that time of the year: Singular events must be abandoned in favor of end-of-year, big-picture narratives and yearly lessons learned. As many governments across the globe finally had to face the rapidly mainstreaming realm of digital finance, the year is packed with developments in crypto policy and regulation that are impossible to fit into a neat little summary.

19.12 / 12:02

Blockchain Congress Bitcoin Bitcoin book for American policymakers gets 5x funding on Kickstarter

A group of eight Bitcoin (BTC) enthusiasts launched a Kickstarter campaign to publish an educational book for America’s federal policymakers, to reduce their reliance on the traditional media narrative on cryptocurrencies. The campaign managed to attract $23,151 in funding, nearly five times the goal of $5,000.

17.12 / 17:03

Law Stablecoin Congress hearing compliance Senate hearing on stablecoins: Compliance anxiety and Republican pushback

On Dec. 14, the United States Senate Banking, Housing and Urban Affairs Committee held a hearing titled “Stablecoins: How Do They Work, How Are They Used, and What Are Their Risks?” The testimonies, both spoken and written, focused largely on the last two issues, as anxieties over Know Your Customer compliance and the U.S. dollar inflation threat dominated the discussion.

16.12 / 22:15

Government CFTC Congress US Senate confirms CFTC chair as President Biden announces commissioner picks

Congressional lawmakers confirmed the nomination of Rostin Behnam, a commissioner at the Commodity Futures Trading Commission who had been serving as acting chairperson, to assume his position on a more permanent basis.

15.12 / 18:12

coinbase Bitfury Congress Paxos Crypto in the House: Execs on the march, US partisan politics and Web3

On Dec. 8, top executives from six major crypto companies faced the United States House of Representatives’ Financial Services Committee during a special hearing on digital assets. While the tone of the conversation was largely proclaimatory, the industry reacted with an optimistic buzz — it seems that crypto is bound to become a hot topic on the Hill for years to come.

15.12 / 00:38

Government Stablecoin Congress hearing Opinions Witnesses offer differing opinions on approach to stablecoins at congressional hearing

The Senate Committee on Banking, Housing and Urban Affairs heard from several expert witnesses with knowledge of stablecoins who urged lawmakers to establish a clear regulatory framework but could not seem to agree on where lines would be drawn.

14.12 / 21:17

Government Stablecoin Congress 'DeFi is the most dangerous part of the crypto world,' says Senator Elizabeth Warren

Massachusetts Senator Elizabeth Warren did not hold back in her criticism of decentralized finance, expressing concern about how a run on stablecoins would affect the average investor.

14.12 / 03:23

Law Congress hearing Law Decoded: A different Congress hearing, Dec. 6–13

The biggest regulatory story of the week was a United States House Committee on Financial Services hearing squarely focused on crypto. Even the event’s title — “Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States” — conveyed a different vibe than countless previous Congressional meetings that had been first and foremost about investor protection or security risks or threats to financial stability.

10.12 / 04:07

Altcoin Congress Congressman jokes about a Mongoose Coin: Now it exists

Democratic representative for California Brad Sherman joked about how ridiculous a “Mongoose Coin” would be on Wednesday — and by Friday it had become a reality.

09.12 / 19:22

Government Congress Bitcoin lawmaker US lawmaker purchases exposure to Bitcoin through Grayscale shares

Illinois Representative Marie Newman has disclosed she purchased up to $50,000 in exposure to crypto through shares of Grayscale Bitcoin Trust.

08.12 / 23:37

Government ETF SEC Congress crypto ETFs US is 'unquestionably' behind the curve on crypto ETFs, says Brian Brooks

Bitfury CEO and former Acting Comptroller of the Currency Brian Brooks has hinted the regulatory environment in the United States could drive many crypto firms outside the country, and has already stymied companies attempting to offer a variety of financial products.

08.12 / 18:57

Government regulation Congress hearing regulatory Crypto CEOs request Congress provide regulatory clarity at hearing on digital assets

The House Committee on Financial Services heard from several chief executive officers at major crypto firms in the United States, some of whom seemed to present a united front in urging lawmakers to provide a clear regulatory framework for crypto.

06.12 / 20:27

SEC Congress Law Decoded: Bitcoin exchange-traded funds are put on the spot again, Nov. 29–Dec. 6

Do you remember the time when a fleeting mention of Bitcoin, stablecoins, or even central bank digital currencies by a top-ranking government official was considered major news all over the cryptoverse? Feels like It’s been forever. As we find ourselves in the midst of digital assets’ global mainstreaming, such statements come in droves every day and are expected.

04.12 / 11:55

Blockchain Congress Bitcoin hearing FTX releases crypto regulation proposals before US congressional hearing

Bahamian-based cryptocurrency exchange FTX released a list of principles and proposals to help policymakers build the regulatory framework. The policy recommends the market-structure choices made by several leading crypto exchanges and suggests its implementation across all jurisdictions.

03.12 / 13:34

Blockchain Adoption white house Congress Digital dollar needs broad consensus among authorities, says US Treasury Secretary

U.S. Treasury Secretary Janet Yellen has given her opinions on the potential of a digital dollar but is hesitant to come to any conclusions at this stage in proceedings. Yellen said on Thursday that she had not formed a view on whether the Federal Reserve should create a digital version of the dollar, but such a move would require broad consensus among Congress, the U.S. central bank and the White House.

30.11 / 21:49

Congress Lightning Network Congressional candidate seeking to unseat anti-crypto Brad Sherman is accepting contributions via Lightning

Aarika Rhodes, a Democrat running to represent California's 30th Congressional District in the U.S. House of Representatives, has begun to accept campaign contributions in Bitcoin using the Lightning Network.

19.11 / 22:21

regulation Congress Is US politics divisive enough to make crypto a partisan issue?

As the perceived legitimacy of blockchain technology increases, politicians in the U.S. have shown a growing interest in turning this non-partisan technology into a topic of political divisiveness.

11.11 / 19:33

Government regulation Congress hearing committee US Congress plans 'demystifying crypto' committee hearing for Nov. 17

The Joint Economic Committee, which includes Republican and Democratic members of both the U.S. House of Representatives and Senate, will be holding a hearing on the role of government concerning crypto.

10.11 / 01:15

Congress Senate Democratic challenger to crypto-friendly senator's seat is interested in space

Morgan Harper, a former senior advisor at the Consumer Financial Protection Bureau, is coming out as 'crypto curious' in her race to be the Democratic nominee for one of Ohio’s United States Senate seats.

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