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Stablecoin Legislation Advances to Next Voting Phase After GENIUS Bill Passes
In recent developments, the movement to regulate stablecoins has gained significant momentum as crucial legislation has successfully navigated another important stage in Congress. This advancement represents a step closer to establishing a comprehensive regulatory framework for these digital assets, which have become increasingly popular in various financial markets. Stablecoins, a type of cryptocurrency designed to…
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Congress is Essential for Effective and Lasting Crypto Regulation, Says Wiley Nickel
As the crypto landscape continues to evolve at a rapid pace, the call for clear and effective regulations has never been more pressing. Former Congressman Wiley Nickel recently underscored this sentiment, emphasizing that meaningful crypto regulations must stem from Congressional action rather than temporary executive orders. In an exclusive interview with Cointelegraph’s Turner Wright, he…
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Representatives Torres and Emmer Join Forces to Establish ‘Congressional Crypto Caucus’ Aiming to Influence US Digital Asset Policy
As the 118th Congress convened earlier this year, a significant area of focus has been the regulation of stablecoins. These cryptocurrencies, pegged to traditional fiat currencies or assets, have gained substantial traction in the financial ecosystem, prompting lawmakers to contemplate the development of a robust regulatory framework. The emergence of stablecoins signifies a pivotal moment…
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Former Congressman Patrick McHenry Appointed Vice Chairman of Advisory Board at Ondo Finance
After a distinguished career in Congress, former Representative Patrick McHenry has embarked on a new chapter, transitioning into influential advisory roles that harness his extensive experience in financial policy. McHenry, who has served in various capacities within the legislative branch, particularly focusing on financial services, brings valuable insight to a number of innovative firms in…
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El Salvador Approves Legislation to Update Bitcoin Adoption Strategy in Line with IMF Agreement: Reuters
In a significant development for cryptocurrency policy, the Legislative Assembly of El Salvador has recently enacted a bill aimed at scaling back the country’s aggressive adoption of Bitcoin. This decision aligns with recommendations from the International Monetary Fund (IMF), as part of a broader negotiation framework concerning a $1.4 billion financial assistance package. El Salvador…
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Crypto Industry Urges Congress to Halt New DeFi Broker Regulations
The recent classification of decentralized finance (DeFi) protocols as brokers by the Internal Revenue Service (IRS) has ignited a heated debate within the cryptocurrency sector. The decision has sparked widespread concerns and criticisms from various stakeholders within the industry, with many calling for legislative intervention to challenge and potentially overturn the new rules. The move…
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Tether CEO Suggests Circle Director Deceived Congress with ‘Desperate’ Criticism of USDT
Stablecoin issuer Tether has emphasized its commitment to preventing the misuse of stablecoin technology by actively collaborating with law enforcement agencies worldwide. This move comes in response to comments made by Caroline Hill, Senior Director of Global Policy and Regulatory Strategy at Circle, during a House Financial Services Committee hearing that addressed the issue of…
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Hamas’ Fundraising: Treasury Official Confirms Crypto’s Minimal Contribution
On February 14, Brian Nelson, the Undersecretary for Terrorism and Financial Intelligence at the US Department of the Treasury, provided crucial testimony to Congress that challenged widely held beliefs regarding the role of cryptocurrency in funding terrorist activities. Nelson’s insights during the House Financial Services Committee hearing shed light on a topic that has raised…
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New Senate Bill Joins Expanding Array of Digital Asset Legislation Advancing in Congress
U.S. Senators Mitt Romney (R-UT), Mark R. Warner (D-VA), Mike Rounds (R-SD), and Jack Reed (D-RI) have proposed legislation aimed at sanctioning foreign entities that facilitate financial transactions, including digital asset transactions, with Foreign Terrorist Organizations (FTOs) designated by the U.S. The bill, titled the Terrorism Financing Prevention Act, is a response to the increasing…
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Patrick McHenry, a lawmaker known for supporting cryptocurrency, announces retirement from Congress
U.S. Congressman Patrick McHenry, renowned for his role as a primary proponent of cryptocurrency in legislative circles, has decided to retire at the end of his current term in January 2025. The Congressman confirmed his impending departure in a statement released on Dec. 5. McHenry, who has been a member of Congress since Jan. 3,…
