Bipartisan Push For Crypto: Democrats Present Key Principles For Market Struc...
On Tuesday, a group of Senate Democrats unveiled a set of key principles aimed at shaping future legislation to regulate the cryptocurrency space under the anticipated market structure bill. Spearheaded by Senators Ruben Gallego, Mark Warner, Kirsten Gillibrand, and Cory Booker, this framework seeks to address the pressing issues surrounding market structure and regulatory clarity. […]
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The U.S. House of Representatives, on Friday, passed the $1.2 trillion bipartisan infrastructure bill. With a final vote of 228-206, thirteen Republicans voted with the majority of Democrats in favor of the bill. Although, six Democrats voted against it. After hours of deliberation, the bill now heads to President Joe Biden’s desk to be signed […]
A new bipartisan bill has been introduced in the Senate that would simplify the use of cryptocurrency for everyday purchases by creating tax exemption for personal crypto transactions under $50 as well as when the capital gains are less than $50.
New ‘Virtual Currency Tax Fairness Act’
A new bipartisan bill, known as the “Virtual Currency Tax Fairness Act,” was introduced in Congress Tuesday by Senators Pat Toomey (R-PA) and Kyrsten Sinema (D-AZ).
According to the announcement by the U.S. Senate Committee on Banking, Housing, and Urban....
Pro-bitcoin Senator Cynthia Lummis of the United States is planning to present a comprehensive crypto bill next year that will explain how different digital assets will be classified and taxed. Pro-Bitcoin Senator Proposes Crypto Bill Senator Cynthia Lummis, a Bitcoin evangelist, plans to introduce a comprehensive crypto bill in the new year. Lummis’ proposed bill, according to Bloomberg, aims to establish regulatory clarity on stablecoins, instruct regulators on which cryptos belong to which asset classes, and provide consumer protections. In addition, the senator is said to have....
While Speaker Nancy Pelosi expects the infrastructure bill to pass, the Democrats are divided on whether to pass the legislation before the terms of a follow-up $3.5 trillion package is finalized. According to Reuters, Pelosi expressed confidence the legislation will pass upon announcing the date on Sunday, Sept. 26, stating: “Let me just say that we're going to pass the bill this week." Earlier that same day she reportedly indicated she would not bring the bill to a vote unless she believed it would pass. Speaker of the U.S. House of Representatives Nancy Pelosi announced that the house....
“Overburdensome” — Eight members of Congress have expressed concern that Gary Gensler’s scrutiny of crypto firms is unfairly suffocating the industry. In a bipartisan letter put forward by Republican Minnesota Congressman Tom Emmer, a cohort of Congress members has written to Securities and Exchange Commission (SEC) Chairman Gary Gensler, challenging the regulator's scrutiny of cryptocurrency firms and expressing concern that “overburdensome” investigation may be suffocating the crypto industry. They suggest the SEC is drowning companies in paperwork in contravention of the SEC’s stated....