News with the tag "US Senate"

Maryland Delegate Adrian Boafo and New York Assemblyman Clyde Vanel have urged top Democratic lawmakers to establish a federal cryptocurrency regulatory framework. The lawmakers cautioned in a letter that inconsistent state laws might impede financial innovation. They addressed Senators Elizabeth Wa...

Senator Tim Scott of South Carolina, the leading Republican on the Senate Banking Committee, has introduced the Financial Integrity and Regulation Management Act. This legislation aims to prohibit financial regulators from considering reputational risks when supervising banks, a practice critics arg...

The industry's ongoing campaign against the debanking of crypto businesses and leaders has secured a legislative push from a top U.S. senator, Tim Scott, who is championing a bill that would cut out federal banking regulators' ability to use "reputational risk" as a reason to steer banks away from c...

Strong support from many Democrats helped win a victory for a U.S. Senate effort to erase a Biden administration crypto tax rule on Tuesday, clearing what may have been the most difficult hurdle toward eliminating the Internal Revenue Service's new broker rule that was set to include decentralized f...

The White House is signaling a likely approval from President Donald Trump if a congressional resolution hits his desk that would rescind a crypto Internal Revenue Service rule approved just before he returned to office. Trump's senior advisers will recommend he sign the Congressional Review Act res...

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Last week, I had the pleasure of representing decentralized AI on Capitol Hill with the Digital Chamber . For weeks, the news cycle has been full of op...

Howard Lutnick, a longtime advocate of Bitcoin and former CEO of Cantor Fitzgerald, has been confirmed as the new US Secretary of Commerce. The Senate approved his nomination in a 51-45 vote, securing his position in President Donald Trump’s administration. Howard Lutnick Confirmed as US Commerce Se...

Federal Reserve chair Jerome Powell told the U.S. Senate that regulators should” take a fresh look” at the crypto debanking debacle. Speaking at a Senate Banking Committee hearing on Feb. 11, Powell said it was time for agencies to reassess reports of crypto businesses being denied access to the U.S...

Both House Republicans and Democrats have introduced proposals to regulate U.S. stablecoins, signaling that the sector is a legislative priority under President Donald Trump. Maxine Waters, the ranking Democrat on the House Financial Services Committee, published a proposal for stablecoin oversight ...

The Federal Deposit Insurance Corporation has released more than 100 documents related to the highly criticized and controversial “debanking” of crypto companies and individuals. In a press release on Feb. 5, the FDIC stated that the 175 documents pertain to the agency’s supervision of banks that “e...