Crypto PACs are spending big on US elections — What it means for the industry
Political action committees supporting the cryptocurrency industry are raising hundreds of millions of dollars. Go to Source
Congress
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US lawmaker asks Congress to treat Binance exec in Nigeria as a ‘hostage’
Rep. Rich McCormick called on the US government to formally declare Tigran Gambaryan as a hostage if his criminal case in Nigeria was not resolved by mid-July. Go to Source
House fails to override Biden’s veto on nullifying SEC crypto rule
Though the resolution overturning an SEC rule on banks handling crypto passed in the House in May, the legislation required at least 288 members to override President Biden’s veto. Go to Source
US lawmakers meet with crypto advocates in DC roundtable
Anita Dunn, a senior adviser to Joe Biden, attended the roundtable in her personal capacity amid reports the US President was considering changing his position on crypto. Go to Source
US Lawmaker Pushes Bill to Allow Bitcoin Payments for Federal Income Taxes, Citing El Salvador’s Success
U.S. Congressman Matt Gaetz has introduced a bill to allow federal income taxes to be paid with bitcoin. Inspired by El Salvador’s success with the cryptocurrency, the lawmaker believes this move will modernize the U.S. tax system, promote innovation, and maintain America’s technological leadership. Lawmaker Proposes Bill to Allow Federal Income Taxes to Be Paid … Read more
Stablecoin act gives Congress alternative to overriding Biden’s SAB 121 veto
President Joe Biden’s veto of the SAB 121 repeal was a blow for the crypto community. Can the U.S. Congress override the veto with broad bipartisan support? Go to Source
US appeals court says SEC exceeded authority with fund rule
The Fifth Circuit found that the regulator overstepped its authority in its new rules affecting hedge funds. Could this ruling be a good sign for crypto? Go to Source
Public blockchains too ‘fragile’ for tokenization: Professor tells Congress
Allen argued that public blockchains “can’t process large volumes of transactions” — though on-chain data suggests otherwise. Go to Source
FIT21 bill a ‘watershed moment’ for crypto despite CFTC-SEC friction
FIT21 is the first bipartisan legislation of its kind to pass in either chamber of Congress, but is its dual-agency model workable? Go to Source
McHenry urges Senate to pass FIT21 crypto bill before election
The United States House’s widely positive vote on the crypto-regulating FIT21 bill should be “a wake-up call” to the Senate to quickly pass it, says Rep. Patrick McHenry. Go to Source