Congress Financial News

28.09 / 05:33

business regulation SEC coinbase us government Congress Winter Olympics 5 lowlights of Gary Gensler's evasive testimony before Congress

Blamed for “kneecapping” the U.S. capital markets and slammed for dodging questions around Bitcoin and Pokemon cards, Gary Gensler appears to have had one hell of a grilling from Congress this week.

27.09 / 22:42

regulation SEC Congress hearing guidance SEC's Gensler taken to task over crypto custody guidance again in House hearing

Gary Gensler, chairman of the United States Securities and Exchange Commission, told the House Financial Services Committee hearing on Sept. 27 that he enjoys testifying before the committee. He had well over four hours of that pleasure that day, much of which was devoted to criticism of his agency’s policies and actions.

21.09 / 08:21

CBDC regulation Congress US Anti-CBDC bill moves a step closer to passing

The CBDC Anti-Surveillance State Act, aimed at preventing “unelected bureaucrats in Washington” from issuing a central bank digital currency (CBDC), has taken one step further on its procedural journey after it passed the House Financial Services Committee.

19.09 / 10:15

solana Congress Crypto regulations legislation NOT Solana Co-Founder Urges the US to Not Wait for “Perfect” Crypto Regulations

Anatoly Yakovenko, co-founder of Solana and the CEO of Solana Labs, stressed the importance of the US government’s crypto bipartisan bill passed in July. However, he noted that the government shouldn’t wait for “perfect” legislation to move forward in regulations.

14.09 / 18:27

CBDC regulation Congress Financial Services services Financial House Financial Services Comm. witnesses air multiple anti-CBDC arguments

A chorus of disapproval rang out from the halls of the United States Congress on Sept. 14 as the House of Representatives Financial Services Committee digital assets subcommittee held a hearing on the “digital dollar dilemma.” Five expert witnesses were scheduled to testify at the hearing, and all of them argued against creating a U.S. central bank digital currency (CBDC), otherwise known as a digital dollar.

14.09 / 05:15

Congress Meta Ceo OpenAI Sam elon Elon Musk, Mark Zuckerberg and Sam Altman talk AI regs in Washington

The top executives from some of the world’s largest tech and web companies have concluded a closed-door meeting with U.S. lawmakers in Washington D.C., where they reportedly discussed AI technology and potential approaches to regulation.

13.09 / 05:03

CBDC regulation Federal Reserve Congress bills Rep. Tom Emmer reintroduces anti-CBDC bill to Congress

Legislation aimed at preventing “unelected bureaucrats in Washington” from issuing a central bank digital currency (CBDC) has been reintroduced by Representative Tom Emmer.

09.09 / 08:31

Technology Law regulation Congress Senators Senators unveil bipartisan blueprint for comprehensive AI regulation

Two senators unveiled a bipartisan blueprint for artificial intelligence (AI) legislation on Friday, Sep. 8, as Congress intensifies its endeavors to regulate this emerging technology.

06.09 / 17:43

Government regulation Federal Reserve Congress Senate Reserve vice chair US Senate confirms Philip Jefferson as Federal Reserve vice chair

Federal Reserve governor Philip Jefferson has won confirmation from a majority of members of the United States Senate, placing him in position to become the Fed's next vice chair.

28.08 / 20:17

regulation Congress Financial Services legislation us house services Stablecoin Bill Financial US House Financial Services members scold Fed’s Powell for stablecoin bill obstruction

The Federal Reserve is seemingly running interference with congressional efforts to regulate stablecoins, according to a letter recently sent to Fed Chairman Jerome Powell. The letter came from Chairman of the U.S. House of Representatives Financial Services Committee Patrick McHenry and subcommittee chairs French Hill and Bill Huizenga.

16.08 / 05:55

regulation white house Congress us house US House Democratic coalition creates AI working group

Democrats from the United States House of Representatives have formed a working group on artificial intelligence aimed at introducing new legislation around the nascent tech sector.

10.08 / 05:23

Stablecoin PayPal Congress legislation regulatory approval regulatory Congresswoman Maxine Waters Criticizes PayPal's Entry into Dollar-Pegged Stablecoin Arena Without Federal Regulatory Approval

On Wednesday, Democratic Congresswoman Maxine Waters (D-CA) criticized PayPal's launch of its new dollar-backed stablecoin, PYUSD, as she believed the company should have waited for federal regulatory approval before proceeding.

02.08 / 07:33

Fitch Congress US Moody's US loses Fitch AAA rating following debt ceiling turmoil

Fitch said that brinkmanship over debt ceiling negotiations and “last-minute resolutions” had increased in recent year, which has “eroded confidence in fiscal management”.

29.07 / 09:11

business Technology regulation Apple Tokens Congress lawmakers Lawmakers probe Apple's App Store policies on blockchain, NFTs

Representatives Gus Bilirakis, from Florida and of the Republican Party, and Jan Schakowsky, representing Illinois and affiliated with the Democratic Party, both serving in the United States Congress joined forces and took the initiative to address their concerns directly to Apple CEO Tim Cook. on the California-based company's App Store guidelines and its effect on emerging technologies like blockchain and nonfungible tokens (NFTs).

27.07 / 18:08

regulation Congress Digital Asset legislation decentralized marketplace us house committee 'Pro crypto bill' passes out of US House Agriculture Committee

Tact was pervasive in the United States House of Representatives Agricultural Committee’s consideration of the Financial Innovation and Technology for the 21st Century Act on July 27. With many references to bipartisanship and self-congratulatory mentions of the members’ cooperation and hard work, the committee plowed through a series of amendments calmly and quickly.

27.07 / 16:19

Law Stablecoin regulation Congress negotiations Stablecoin Bill Rep. Patrick McHenry blames White House for lack of urgency on stablecoin bill negotiations

United States House Financial Services Committee chair Patrick McHenry has pointed a finger at the Biden administration for the lack of bipartisan agreement on a stablecoin bill.

27.07 / 06:13

Altcoin Congress memecoin hearing Time UFO hearing: Crypto degens spare no time crafting 50 alien shitcoins

Crypto degens have been quick to try and capitalize on a widely-watched hearing where former United States government officials have claimed the existence of alien spacecraft and “biologics."

26.07 / 16:41

Government Law regulation Congress lawmakers US lawmakers US lawmakers invoke FTX and spar on direction of crypto bills

Members of the United States House Financial Services Committee seem to be divided on the best legislative path forward dealing with regulatory clarity for crypto and blockchain technology.

24.07 / 20:35

ETF CFTC regulation SEC white house Congress Senate Two more crypto bills in the US: Law Decoded, July 17–24

Last week was marked by two new legislative initiatives for the crypto industry in the United States. Senator Jack Reed sponsored a bipartisan bill that would tighten Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations and sanctions requirements for decentralized finance (DeFi). The bill would subject DeFi operations to the same requirements as “other financial companies, including centralized crypto trading platforms, casinos, and even pawn shops.”

24.07 / 19:39

CFTC regulation SEC Congress legislation Cooperation GAO US GAO says lack of interagency cooperation needs to be addressed in crypto regulation

The United States Government Accountability Office (GAO), a Congressional watchdog agency, has released a report it completed in June on the regulatory framework for the use of blockchain in finance.

24.07 / 04:35

CBDC Adoption regulation Federal Reserve Congress Congressman Warren Davidson calls to ban and criminalize CBDCs

United States Republican Representative Warren Davidson has spoken out against Central Bank Digital Currencies (CBDCs), urging Congress to ban them and criminalize its development.

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