Coinbase, Robinhood, CFTC to testify in Congress over draft crypto bill
Paul Grewal reiterated that the “U.S. is falling behind” and is at risk of driving jobs, innovation and investment overseas. Go to Source Powered by WPeMatico
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US lawmakers blame crypto firms for ‘tax gap’ in letter to Treasury
In a letter addressed to Treasury Secretary Janet Yellen and IRS Commissioner Daniel Werfel, two members of Congress raised concerns about the tax compliance practices in crypto. Go to Source Powered by WPeMatico
Stablecoin issuers have spent over $1.3M lobbying Congress since 2022
Tether and Circle have been leading lobbying efforts among stablecoin issuers as they push for legislation and regulations for stablecoins. Go to Source Powered by WPeMatico
Bitcoin, gold and the debt ceiling — Does something have to give?
Traders are still tiptoeing around markets as multiple risk events remain at the forefront, but BTC margin and futures markets are starting to favor a bullish breakout. Go to Source Powered by WPeMatico
US House stablecoin hearing focuses on competing bills for regulation
The answer to the question of what level stablecoin issuers are regulated on “need not be binary,” one witness said. Go to Source Powered by WPeMatico
Congressional crypto hearing illustrates political stalemate on digital assets
The hearing was filled with a heavy amount of criticizing the SEC, urging to take matters of regulation into Congress’ hands and empowering the CFTC. Go to Source Powered by WPeMatico
Coinbase establishes advisory council with former US lawmakers
Former Senator Patrick Toomey, former Representative Tim Ryan, former Representative Sean Patrick Maloney, and others will advise Coinbase on crypto policies. Go to Source Powered by WPeMatico
GAO cites exposure to digital assets in exploring collapse of Signature Bank
Michael Clements said the GAO had reviewed “large deposits from the digital asset space” in considering whether crypto had contributed to Signature’s failure. Go to Source Powered by WPeMatico
Former US Secretary of Labor Robert Reich Urges Bypassing Congress to Raise Debt Ceiling
Robert Reich, former secretary of labor in the U.S., has called for the government to bypass Congress in order to raise the debt ceiling unilaterally. Reich states that the constitution of the U.S. gives President Biden the faculty of ignoring this debt limit, declaring it unconstitutional — explaining its existence is less significant than the … Read more
US lawmakers introduce bipartisan bill proposing ban on members investing in ‘financial instruments’
Representatives Alexandria Ocasio-Cortez and Matt Gaetz — lawmakers diametrically opposed on a variety of issues — joined forces to stop congressional members from trading stocks. Go to Source Powered by WPeMatico