pat toomey – DIGIT INFO

Non-USD stablecoins can spur adoption: Report

DIGIT — Wed, 27 Nov 2024 17:40:47 +0000

Cryptocurrencies, including stablecoins, still only pay for 0.2% of online commerce transactions globally, according to the report.

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Stablecoin bill faces several challenges — former Senator Pat Toomey

DIGIT — Wed, 20 Nov 2024 20:53:36 +0000

The total market capitalization of the stablecoin sector has topped $174 billion as of November 2024 and continues to grow.

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Cornell Professor Warns of Disruption to US Bond Market From Potential Collapse of Major Stablecoin

DIGIT — Mon, 16 Jan 2023 10:30:23 +0000

A professor from Cornell University has warned about the potential effects a collapse of a major stablecoin could have on the U.S. bond market. Eswar Prasad said that if large stablecoins face a collapse, the number of Treasury bonds they would need to sell could disrupt the U.S. Treasuries market, affecting prices. Cornell Profesor Alerts […]

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US senator Toomey introduces stablecoin bill as congressional session wraps up

DIGIT — Thu, 22 Dec 2022 05:40:28 +0000

The soon-to-retire senator introduced the new stablecoin bill only a few weeks before the end of the 117th US congressional session.

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US Lawmakers ‘Deeply Concerned’ That SEC Is Enacting Rules Too Quickly, Without Sufficient Feedback

DIGIT — Mon, 07 Nov 2022 23:30:10 +0000

Two U.S. lawmakers have requested answers from the Securities and Exchange Commission (SEC) about its rulemaking process. Their request followed the latest SEC Inspector General report that “raises significant concerns that the agency is trying to enact too many rules, too quickly.” ‘SEC Is Enacting Rules Without Sufficient Feedback’ U.S. Senator Pat Toomey (R-PA) and […]

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US Senator Wants Congress to Step in With Crypto Guidance — Urges SEC to Provide Much More Clarity on Regulations

DIGIT — Sat, 17 Sep 2022 03:30:38 +0000

U.S. Senator Pat Toomey says Congress should step in and provide a regulatory framework for cryptocurrency. He stressed that the U.S. Securities and Exchange Commission (SEC) is not sharing its framework for regulating crypto with lawmakers, noting that Chairman Gary Gensler “owes us much more clarity on how and why he intends to apply SEC […]

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US Senators Introduce Bipartisan Bill to Exempt Small Crypto Transactions From Taxes

DIGIT — Wed, 27 Jul 2022 00:00:37 +0000

A new bipartisan bill has been introduced in the Senate that would simplify the use of cryptocurrency for everyday purchases by creating tax exemption for personal crypto transactions under $50 as well as when the capital gains are less than $50. New ‘Virtual Currency Tax Fairness Act’ A new bipartisan bill, known as the “Virtual […]

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SEC Criticized for How It Regulates Crypto — Chair Gensler Says Most Crypto Tokens ‘Have Attributes of Securities’

DIGIT — Sun, 24 Jul 2022 23:30:38 +0000

The U.S. Securities and Exchange Commission (SEC) has been heavily criticized for its approach to regulating the crypto sector. The criticism followed the securities regulator’s action against a former Coinbase employee in an insider trading case, in which the SEC named nine crypto tokens listed on Coinbase as securities. SEC Slammed for Regulation by Enforcement […]

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US Lawmakers Push for Urgent Stablecoin Regulation — Fed Warns of Stablecoin Runs, Janet Yellen Cites UST Fiasco

DIGIT — Wed, 11 May 2022 00:00:56 +0000

As U.S. lawmakers push for the urgent regulation of stablecoins, the Financial Stability Oversight Council (FSOC) and the Federal Reserve Board warn about the risks of stablecoin runs that threaten the country’s financial stability. Treasury Secretary Janet Yellen brought up the terrausd (UST) fiasco as an example of why a comprehensive regulatory framework is urgently […]

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Senator pressures OCC nominee over missing Marxism thesis from Moscow Uni

DIGIT — Thu, 07 Oct 2021 05:05:14 +0000

“I don’t think I’ve ever seen a more radical choice for any regulatory spot in our federal government,” said Senator Pat Toomey.

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