US Senate Amendments Target Crypto Tax Payments And Banking Access – Details
The crypto market faces one of its most consequential regulatory tests this week as the US Senate Banking Committee prepares to vote on the CLARITY Act on Thursday, May 14. The markup session will determine whether the most comprehensive digital asset legislation in American history advances toward a full Senate floor vote — or returns […]
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The US Senate Banking Committee’s crypto market structure push is running into a dense wall of amendments ahead of Thursday’s markup, with lawmakers filing more than 100 proposed changes to the CLARITY Act. The amendment rush puts stablecoin rewards, crypto firms’ access to the Federal Reserve system and even the use of digital assets for […]
Paul Grewal, the Chief Legal Officer of Coinbase, is scheduled to testify at a critical Senate hearing with a focus on “Operation Chokepoint 2.0.” The Senate Banking Committee has convened this hearing to examine allegations that regulatory agencies are deliberately limiting the access of crypto firms to banking services. Grewal, a fervent proponent of transparent […]
A DeFi advocacy group has warned about a list of proposed amendments to the long-awaited crypto market structure bill that threaten the sector’s developers and hinder innovation in the US. Related Reading: Bitcoin Rally At Risk: This Critical Resistance Could End BTC’s Bullish Run CLARITY Act Amendments Could Harm The DeFi Sector On Wednesday, the DeFi Education Fund (DEF) shared a list of 16 “anti-DeFi amendments” to the Senate Banking Committee’s crypto market structure bill, known as the CLARITY Act, ahead of its highly anticipated Thursday markup session. In an X post, the advocacy....
Amendments to the European Union anti-money laundering law places virtual currencies under the same obligations as other payment institutions, according to the European Parliament news service. The MEPs recently agreed to the amendments by a vote of 89 to 1. The amendments approved by the Economic and Monetary Affairs and Civil Liberties committees are designed to eliminate gaps in the EU’s laws to prevent money laundering and terrorism financing. The law would also include stricter rules to prevent tax evasion. Citizens To Gain Access To Trusts. EU citizens will be able to access....
View the full video of the Senate Committee on Banking, Housing, and Urban Affairs hearing on virtual currencies here. It was refreshing to see a Senate hearing kick off half an hour early for a change, and in a place with far more sitting room than room 538 of the Dirksen Senate Office Building. Just before 15:00 ET, while aides were still preparing that room for the two-hour session, Senator Jerry Moran posted a question on reddit: "I'm one of the Senators attending today's US Senate Banking Committee hearing related to bitcoin. What would you like me to know?" He wanted wider input on....