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Wyoming Rep. Harriet Hageman recently released a mysterious video of "Soon" (coming soon), sparking speculation that he may run for the 2026 Senate seat. Previously, incumbent Senator Cynthia Lummis announced that she will not seek re-election. As a strong supporter of the cryptocurrency industry, Lummis has promoted several blockchain legislation such as the Responsible Financial Innovation Act, and his departure will deprive the crypto industry of important allies. Although Hageman has not yet...
According to Cointelegraph, Wyoming Republican Senator Cynthia Lummis, who has long promoted cryptocurrency legislation, has announced that she plans to spend the remainder of her term pushing for the crypto market structure bill to be officially signed into law.
The cryptocurrency industry held another meeting with members of the U.S. Senate who are working on a market structure bill. The legislation will re-enter the negotiating stage in January, which is also the last important opportunity for industry representatives to clarify their position in the negotiations this year. Participants said it was the last chance to clarify positions in 2025, such as DeFi's protections for software developers. They said that while no new consensus was reached, it lai...
Elizabeth Warren, the ranking Democrat on the US Senate Banking Committee, has called for a national security investigation into some DeFi platforms, focusing on their potential links to Trump's business interests. In her letter to Treasury Secretary Scott Bessant and Attorney General Pam Bundy, Warren named PancakeSwap, saying it could amplify World Liberty related to Trump.
Crypto journalist Eleanor Terrett posted on the X platform that US Senator Mark Warner has informed that it is "very difficult" to complete the review of the Cryptocurrency Market Structure Act before the Christmas holiday, as they are still waiting for feedback from the White House on key parts of the bill. However, Mark Warner added: "Sooner or later, my fellow Republicans will have to make a decision on this bill, which is the bill proposed by the White House and the decision of Congress. At ...
Bank of America CEO Brian Moynihan, Citigroup CEO Jane Fraser, and Wells Fargo CEO Charlie Scharf are scheduled to meet with senators from both parties on Thursday to discuss cryptocurrency market legislation that could soon be put to a vote. The discussion, organized by the Financial Services Forum, a consortium of major banks, is expected to focus on bankers' opposition to allowing stablecoins to pay interest, as well as the ability of banks to compete in the cryptocurrency space and prevent t...
Senator Todd Young, Republican of Indiana, has sent a letter to Secretary of the Treasury Scott Bescent urging the Internal Revenue Service (IRS) to revisit and consider its 2023 guidance on the tax treatment of cryptocurrency staking rewards. As a member of the Senate Finance Committee, Senator Young questioned the reasonableness of the current rule requiring cryptocurrency holders to pay taxes when they "receive" staking rewards, rather than when they "sell" them. A staking is when cryptocurre...
U.S. Senators John Boozman and Cory Booker introduced a bipartisan bill on Nov. 11 that aims to transfer crypto regulation from the Securities and Exchange Commission (SEC) to the Commodity Futures Trading Commission (CFTC). The bill would authorize the CFTC to define and regulate digital commodities, establish crypto exchange registry systems, enforce new disclosure rules, and levy fees on specific transactions. CFTC Acting Chairperson Caroline Pham said she is committed to "making the United S...
According to crypto journalist Eleanor Terrett, a legal source said that citing a Department of Justice (DOJ) 2023 press release, U.S. Senator Elizabeth Warren The new letter suggests that her tweets about Mr. Zhao (CZ) may reasonably reflect the way the Department of Justice has framed Mr. Zhao's allegations - a situation that could make libel lawsuits "very difficult."
The bipartisan GUARD Act would criminalize exploitative AI interactions with children and require companies to disclose when users are speaking to a machine.
