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Congress
U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler continued his combative stance against crypto “hucksters” in congressional testimony on Wednesday, declining to answer the industry’s most urgent questions while arguing that digital assets companies have been dangerously careless with customer assets.
The crypto industry’s business in Washington is coming to a head just as a looming congressional budget impasse could shut down an array of federal services next week. But the digital assets sector can expect its most important matters won’t go entirely dark, experts suggest, even if they’re dragged out longer than crypto firms had hoped.
The U.S. watchdog for derivatives markets should create a limited pilot program for regulating cryptocurrencies, said Caroline Pham, one of the members of the Commodity Futures Trading Commission (CFTC).
Sen. Bill Hagerty (R-Tenn.) previewed the lawmaker ire in store for U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler as Congress returns from its summer break, with Hagerty accusing the regulator of stomping on crypto innovation during a speech on Thursday.
Like Facebook’s ill-fated Libra project, PYUSD is getting some pushback in Washington D.C. But its prospects seem more promising, says Michael J. Casey.
The crypto industry has never made it this far in its quest for a new system of U.S. oversight for digital assets, but the recent flurry of legislative progress may still be too contentious for it to become law.
While the U.S. Securities and Exchange Commission (SEC) continues to rain enforcement fire onto the crypto industry, Kraken’s chief legal officer, Marco Santori, says a specific legal doctrine could undermine the regulator’s authority.
AUSTIN, Texas – The U.S. House Financial Services Committee and House Agriculture Committee will put together legislation to oversee the crypto sector in the “next two months” after holding joint public hearings starting May, said Patrick McHenry (R–N.C.), chair of the House Financial Services Committee.
Washington’s “war in crypto” continues to occupy minds in the crypto industry. This week, CoinDesk Chief Content Officer Michael Casey tackles the apparent rise in hostility from U.S. regulators from a different angle: revenge.
U.S. President Joe Biden’s proposed budget will include a provision to close tax loss harvesting on crypto transactions.