News with the tag "U.S. Congress"

The U.S. House of Representatives has taken the first significant move to erase the work of the Internal Revenue Service to impose a tax regime on decentralized financial (DeFi) platforms in the final days of former President Joe Biden's administration. The House Ways and Means Committee — the panel...

The U.S. Securities and Exchange Commission will vote soon on a deal negotiated with Coinbase to entirely drop the agency's legal pursuit of the crypto exchange, according to the company's top lawyer . While the SEC has been making moves almost daily to reverse past positions on digital assets, the ...

Nearly every big name in the crypto industry has signed onto a letter calling for Congress to eliminate a U.S. tax policy they say could jeopardize decentralized finance (DeFi) technology by shoehorning much of that space into the field of brokers subject to data collecting and reporting. The Intern...

The crypto industry got a chance to make a full-throated appeal for Congress to finally intervene and set legal standards for digital assets businesses in the U.S. during a hearing Tuesday in front of the House of Representatives subcommittee that focuses on digital assets. Under the Republican-led ...

When confronted by members of the Senate Banking Committee about concerns over the "debanking" trend plaguing the crypto industry, Federal Reserve Chairman Jerome Powell said he's also worried about it and is already tweaking internal supervision policies at the Fed. "I too, am troubled by the quant...

Thanks to numerous factors, cryptocurrency regained some legitimacy in 2024 following the calamities of the ‘crypto winter.’ These include the industry’s massive lobbying expenditure , approval of investment vehicles such as spot Bitcoin ( BTC ) exchange-traded funds ( ETFs ), and the anticipated cr...

Patrick McHenry has spent much of his last two years in Congress on a long-shot quest to get a complex oversight regime for the crypto sector passed into law, and he failed. But failing in Congress isn't always permanent. McHenry, the outgoing Republican chairman of the House Financial Services Comm...

A Nigerian court based in Abuja has denied a bail plea from a Binance executive who was arrested in February for money laundering allegations. The executive filed a bail plea to the court on his ill health, but the court rejected the plea, saying the illness did not meet sufficient grounds.

Two crypto-friendly US lawmakers want U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler to clarify the regulator’s position on airdrops. In a public letter sent to Gensler this week, Representatives Patrick McHenry (R-North Carolina) and Tom Emmer (R-Minnesota) argue that the SEC’s re...

Congressman Tom Emmer is pushing the U.S. Securities and Exchange Commission (SEC) to provide clear rules on digital asset airdrops, arguing that current regulatory uncertainty is stifling innovation and blocking American participation in blockchain projects. He emphasized the importance of airdrops...