Lawmaker Highlights 2 Bills to Make US a Crypto Leader — Says Bitcoin Is ‘Unstoppable’
Congressman Patrick McHenry says bitcoin is unstoppable and every regime that’s tried to shut it down has failed. He emphasized that the U.S. must become a leader in digital assets, noting that two congressional bills offer a path toward clear regulations. Two Pieces of Legislation Could Provide Greater Clarity in Digital Assets Congressman Patrick McHenry […]
Fear of blockchain will have ‘disastrous consequences’ — Ava Labs CEO testimony
Gün Sirer says the U.S. “won the first wave of the internet revolution” because it enabled responsible innovation. Now, it must do the same with blockchain.This post was originally published on this site
Congressman McHenry announces joint hearings to address market structure around digital assets
Patrick McHenry suggested that the hearings will look to add to the regulatory efforts being done on the bipartisan bill led by Senator Cynthia Lummis and Senator Kirsten Gillibrand. This post was originally published on this site
Ether’s Security Status Remains Unclear as SEC Chair Gensler Fails to Answer Lawmaker’s Question
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, would not answer a direct question in a congressional hearing about whether ether is a security. While the SEC chair insisted that the law is clear on crypto, Congressman Patrick McHenry argued that the SEC’s regulatory actions say “there’s a great deal of […]
U.S. lawmakers argue SEC accounting policy places crypto customers at risk
While the bulletin was intended to provide clarity regarding the accounting treatment for digital assets, it has been criticized by both lawmakers and regulators.This post was originally published on this site
House Republicans Demand Answers From SEC Over FTX Co-Founder’s Arrest
On Feb. 10, 2023, Republicans Patrick McHenry of North Carolina and Bill Huizenga of Michigan, both members of the U.S. House of Representatives, sent a letter to Securities and Exchange Commission (SEC) chairman Gary Gensler seeking answers about the arrest of FTX co-founder Sam Bankman-Fried prior to his scheduled testimony before the House Financial Services […]
FTX Execs Gave $70 Million to Both Democrats and Republicans Heading Into the 2022 US Midterms
After the collapse of FTX, a number of journalists reported on the fact that FTX executives deployed significant donations to political leaders in the United States. During the most recent election cycle leading up to the U.S. midterms in 2022, reports claim that Sam Bankman-Fried donated more than $40 million to Democrats via super PACs […]
US Lawmakers ‘Deeply Concerned’ That SEC Is Enacting Rules Too Quickly, Without Sufficient Feedback
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 […]
Lawmakers, SEC Commissioner Slam Chair Gensler for Focusing on Crypto Enforcement
Several U.S. lawmakers and a commissioner with the U.S. Securities and Exchange Commission (SEC) have voiced concerns about the securities regulator expanding its crypto enforcement unit. “The SEC is a regulatory agency with an enforcement division, not an enforcement agency.” Lawmakers Oppose SEC’s Crypto Enforcement Focus A number of lawmakers and a commissioner with the […]