News with the tag "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...

Paul Atkins, the nominee to take over the U.S. Securities and Exchange Commission, is set for a U.S. Senate confirmation hearing next week, putting President Donald Trump's pick for the SEC chairmanship on track to start working as soon as next month. At the same March 27 hearing, the Senate panel i...

Is your crypto startup facing unexpected shutdowns from traditional banks? You’re not alone. A wave of ‘de-banking’ has hit the cryptocurrency world, leaving many businesses stranded and unable to access essential financial services. But now, a powerful move from U.S. Senator Tim Scott is offering a...

Bitcoin Magazine Texas Strategic Bitcoin Reserve Bill Passes The Senate Today, the Texas Senate has passed SB 21, a bill aimed at creating a strategic Bitcoin reserve for the state, by a vote of 25-5. The bill will now advance to the Texas House for further consideration. JUST IN: Texas Strategic Bi...

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...

In a significant win for the decentralized finance (DeFi) sector, the U.S. Senate has voted to overturn a contentious IRS rule that broadened the definition of “brokers” for tax reporting purposes. This move, celebrated by the cryptocurrency industry, signals a potential shift in how digital assets ...

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...

Stablecoins and the role of Congress in addressing future digital assets legislation took center stage during one of the Senate Banking Committee's first hearings to focus on what a regulatory framework for crypto may look like. The Wednesday hearing, framed as the jumping-off point for further Cong...