senator pat toomey – DIGIT INFO

US Senator Introduces Bill to Regulate Payment Stablecoins

DIGIT — Fri, 23 Dec 2022 01:30:10 +0000

A U.S. senator has introduced a bill to “establish the first federal regulatory framework for payment stablecoins.” The lawmaker explained: “This bill will also ensure the Federal Reserve, which has displayed significant skepticism about stablecoins, won’t be in a position to stop this activity.” Stablecoin TRUST Act of 2022 U.S. Senator Pat Toomey (R-PA), ranking […]

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US Lawmaker Suggests ‘Maybe’ Crypto Should Be Banned Citing Bigger Issues Than FTX

DIGIT — Wed, 21 Dec 2022 01:30:16 +0000

A U.S. senator has suggested that cryptocurrency should “maybe” be banned following the collapse of crypto exchange FTX. However, he acknowledged that banning crypto “is very difficult because it will go offshore and who knows how that will work.” Senator Sherrod Brown Suggests Banning Crypto U.S. Senator Sherrod Brown (D-Ohio), the chairman of the Senate […]

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US Senator: Cryptocurrency Cannot Be Stopped, FTX Collapse Isn’t an Indictment of Crypto

DIGIT — Sat, 17 Dec 2022 23:00:13 +0000

U.S. Senator Pat Toomey says illegal actions by crypto exchange FTX must be separated “from perfectly lawful and innovative cryptocurrencies.” Emphasizing that “The collapse of FTX is not an indictment of crypto,” he noted that “cryptocurrency cannot be stopped” and “the technology would simply migrate offshore” if Congress tried. Separating Illegal Actions From ‘Perfectly Lawful […]

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US Lawmakers Introduce Bill Allowing Crypto Investments in 401(k) Retirement Plans

DIGIT — Sat, 01 Oct 2022 02:30:10 +0000

Several U.S. lawmakers have introduced the Retirement Savings Modernization Act to provide 401(k) retirement savers access to a wide range of investments, including crypto assets. “With inflation at record highs, a stock market downturn, and a potential recession on the horizon, many Americans are rightfully concerned about their financial future,” said U.S. Senator Pat Toomey. […]

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US Senator: China’s Digital Currency Could Subvert US Sanctions, Enhance Surveillance Capabilities

DIGIT — Tue, 08 Feb 2022 03:00:30 +0000

A U.S. senator has warned about China’s central bank digital currency. “Analysts have raised the eCNY’s potential to subvert U.S. sanctions, facilitate illicit money flows, enhance China’s surveillance capabilities, and provide Beijing with ‘first mover’ advantages,” the senator informed Treasury Secretary Janet Yellen. U.S. Senator Warns About the Threat From China’s Central Bank Digital Currency […]

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US Lawmaker: Crypto Assets Are Here to Say, Diversified Portfolios Should Have Crypto Exposure

DIGIT — Sat, 05 Feb 2022 01:30:12 +0000

U.S. Senator Pat Toomey says that crypto assets are here to stay and “a thoroughly diversified portfolio should have some.” The lawmaker added that he has a “very simple” investing strategy — diversify. US Lawmaker Says Crypto Is Here to Stay U.S. Senator Pat Toomey talked about cryptocurrency on CNBC Wednesday. The senator was asked […]

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US Senator Calls on SEC Chairman to Provide Regulatory Clarity on Cryptocurrencies

DIGIT — Sat, 25 Sep 2021 15:00:32 +0000

A U.S. senator has asked the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, to provide clear guidance on cryptocurrency regulation. The senator stated that in many enforcement actions, “the SEC did not identify the securities involved or the rationale for their status as securities, which would have provided much-needed public regulatory […]

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$1.2 Trillion Infrastructure Bill Passes Senate With Troubling Crypto Requirements

DIGIT — Tue, 10 Aug 2021 23:35:08 +0000

The U.S. Senate has passed the $1.2 trillion infrastructure bill with a crypto reporting requirement provision that has been described as “unworkable.” Senator Ted Cruz warned: “This infrastructure bill has in it a portion that is designed to obliterate crypto. That would be a tragic mistake.” Senate Passes Infrastructure Bill With ‘Unworkable’ Crypto Tax Provision […]

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US Senator Says Crypto Tax in Infrastructure Bill Is ‘Unworkable,’ Plans to Offer Amendment to Fix It

DIGIT — Tue, 03 Aug 2021 00:30:46 +0000

Several U.S. lawmakers have spoken up against the cryptocurrency tax provision in the $1 trillion infrastructure bill. While the bill has been revised from last week’s version, the text is still “unworkable,” according to Senator Pat Toomey. “I plan to offer an amendment to fix it.” Other lawmakers, including Sen. Ron Wyden, Rep. Warren Davidson, […]

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Fed Faces Double Inflation as Supply Chain Falters, Economists Question Spending, Biden ‘Not Worried’

DIGIT — Mon, 26 Jul 2021 21:31:34 +0000

Reports show a vast majority of the American populace has been worried about rising inflation and as the weeks roll by, the financial situation continues to look grim. US Senator: ‘There’s No Justification for the Fed to Maintain Its Purchases’ A few analysts believe the upcoming two-day meeting held by the U.S. central bank’s Federal […]

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