GOP leader releases crypto regulatory plan

Republican Leader of the House Agriculture Committee, Glenn 'GT' Thompson (R-PA), released a discussion draft of the Digital Commodity Exchange Act of 2021—a blueprint for the regulation of digital commodity markets—to solicit feedback before formally introducing the legislation."Because of its oversight of commodity markets, the House Agriculture Committee plays a critical role in the exciting future of digital commodities. … Continue reading GOP leader releases crypto regulatory plan

Cruz moves to repeal Biden spending bomb’s ‘devastating attack’ on crypto

U.S. Sen. Ted Cruz (R-Texas) this week introduced legislation that would repeal an overly broad and poorly-crafted provision from the infrastructure package that creates new reporting requirements for many participants within the blockchain industry. This provision will stifle innovation in the industry, endanger the privacy of many Americans and cryptocurrencies, and likely push key aspects … Continue reading Cruz moves to repeal Biden spending bomb’s ‘devastating attack’ on crypto

Does this agreement save crypto from govt meddling?

U.S. Senators Pat Toomey (R-Pa,) Mark Warner (D-Va.) and Cynthia Lummis (R-Wyo.), Kyrsten Sinema (D-Az.) and Rob Portman (R-Oh.) today announced an agreement on an amendment to fix digital asset reporting requirements in the infrastructure bill. “There’s broad agreement that digital asset exchanges behaving as brokers should be required to report transactions just like other … Continue reading Does this agreement save crypto from govt meddling?

Infrastructure bill invents new tax on cryptocurrency

U.S. Senate Banking Committee Ranking Member Pat Toomey (R-Pa.) released the following statement regarding a provision in the bipartisan infrastructure package that would tax cryptocurrency transactions: “Congress should not rush forward with this hastily-designed tax reporting regime for cryptocurrency, especially without a full understanding of the consequences. By including an overly broad definition of broker, … Continue reading Infrastructure bill invents new tax on cryptocurrency