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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. and a Davis Polk & Wardwell lawyer who spent his caā¦
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 that would expand existing IRS reporting requirementsā¦
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).Ā McKernan recently stepped down from the Federal Deposit Insurance Corporation, after President Donald Trump nominatā¦
US lawmakers in the House of Representatives have advanced a resolution to repeal the āDeFi broker rule,ā requiring brokers to report digital asset transactions to the Internal Revenue Service.Set to take effect in 2027, the IRS regulation approved on Dec. 5 would expand existing reporting requiremeā¦
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 that enforcers at the Securities and Exchange Commissā¦
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.Ā The bill (SB21) was introduced by Senator Charles Schwertner earlier this year.Ā Texas Lieutenant Governor Dan Patrick designed it as oneā¦
Tether may have to sell non-compliant assets ā including bitcoin, precious metals, corporate paper and secured loans ā to comply with proposed U.S. stablecoin regulations, according to JPMorgan analysts.The U.S. has introduced two stablecoin bills ā the Stablecoin Transparency and Accountability forā¦
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 said Feb. 7 would be his last day at the CFTC afteā¦
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 issuing an āendogenously collateralized stablecoin,āā¦
A Wall Street watchdog group is pushing back against the narrative in a US House Financial Services Committee (HSFC) hearing into claims crypto was āin the crosshairsā of certain financial regulators.In a written statement released ahead of a Feb. 6 hearing of the HSFCās Oversight and Investigationsā¦
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-denominated tokens, according to a person familiar wiā¦
Union groups have sued the US Treasury, accusing it of breaking federal laws by giving Elon Muskās Department of Government Efficiency enforcers access to sensitive financial and personal information.The American Federation of Labor and Congress of Industrial Organizations, the countryās largest uniā¦