After years in which crypto insiders desperately sought to get the attention of the U.S. Congress, the pro-digital-assets witnesses at the latest congressional hearing on stablecoins include a senior executive from the Bank of New York Mellon Corp. a

The US Senate has passed a resolution to repeal a Biden-era rule that would require decentralized finance (DeFi) protocols to report to the Internal Revenue Service (IRS).The Senate voted 70 to 27 on March 4 to approve a motion to repeal the rule tha

Former FDIC board member Jonathan McKernan is being questioned on Thursday by the Senate Banking Committee on whether he is fit to lead the Consumer Financial Protection Bureau (CFPB). McKernan recently stepped down from the Federal Deposit Insurance

US lawmakers in the House of Representatives have advanced a resolution to repeal the “DeFi broker rule,” requiring brokers to report digital asset transactions to the Internal Revenue Service.Set to take effect in 2027, the IRS regulation approved o

By Dave Michaels and Vicky Ge HuangRegulators have agreed to drop a lawsuit against Coinbase that sought to regulate the company as a stock exchange, marking the end of years of hard-line enforcement against the crypto market.Coinbase said Friday tha

The Texas Senate, the upper house of the state's legislature, is on track to hold a public hearing on the implementation of a strategic Bitcoin reserve on Tuesday. The bill (SB21) was introduced by Senator Charles Schwertner earlier this year. Texas

Tether may have to sell non-compliant assets — including bitcoin, precious metals, corporate paper and secured loans — to comply with proposed U.S. stablecoin regulations, according to JPMorgan analysts.The U.S. has introduced two stablecoin bills —

Rostin Behnam, who chaired the US Commodity Futures Trading Commission (CFTC) from 2021 to 2025, has stepped down as commissioner for the financial regulator without a potential replacement nomination from President Donald Trump.In an X post, Behnam

US Representatives French Hill and Bryan Steil have released a discussion draft for a bill that would establish a regulatory framework for dollar-pegged payment stablecoins in the United States.The legislation would impose a two-year moratorium on is

A Wall Street watchdog group is pushing back against the narrative in a US House Financial Services Committee (HSFC) hearing into claims crypto was “in the crosshairs” of certain financial regulators.In a written statement released ahead of a Feb. 6

The opening shot is being been fired in the new Congress' crypto push with a plan for a Tuesday introduction of a stablecoin oversight bill from Senator Bill Hagerty. The legislation would set up a U.S. regulatory framework for issuing the dollar-den

Union groups have sued the US Treasury, accusing it of breaking federal laws by giving Elon Musk’s Department of Government Efficiency enforcers access to sensitive financial and personal information.The American Federation of Labor and Congress of I

Donald Trump is officially the 47th President of the United States, and the U.S. government is going in some different directions from the last administration.You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of crypto

By Kenneth CorbinEven without a permanent chairman confirmed to lead it, the Securities and Exchange Commission is wasting no time in signaling a departure from the work of the previous administration.This week, on the first full day of the new admin

By Joe LightPresident Trump signed an executive order meant to spur the crypto industry in the U.S. It marks a 180-degree turn from the crackdown seen under President Biden's administration, but stops short of creating the Bitcoin "strategic reserve"

The U.S. Senate Banking Committee has officially set its roster for the new digital assets committee, putting Senator Cynthia Lummis at the top, as expected. But it also includes two names that received heavy backing from the crypto political action

Bitcoin, memecoins and the future of the cryptocurrency industry sparked intense debate at the 2025 edition of the World Economic Forum in Davos, Switzerland, as US President Donald Trump marked his return to the Oval Office.During the sole cryptocur

According to CEO Brian Armstrong, Coinbase would delist Tether’s USDT stablecoin if compelled by new legislation. A few current attempts to rework US crypto legislation would impact the firm, but they have not advanced yet.So far, Tether has suffered

Republican U.S. Senator Cynthia Lummis took aim at two federal agencies on behalf of the crypto industry this week, just days before the wide-reaching transition of the federal government when President-elect Donald Trump again takes office.Lummis wa

The U.S. Securities and Exchange Commission must now thoroughly "explain itself" for refusing to grant Coinbase.'s formal request that the agency write regulations for how the industry should assess whether crypto assets are securities or not, accord