The U.S House Financial Services Committee held a key meeting, discussing ways to reform the crypto regulations. Here are the key takeaways shared by FOX’s Eleanor Terrett. Both Democrats and Republicans unanimously demanded urgent clarity and updated disclosure regimes around digital assets. This indicates bipartisan consensus on clear U.S regulations surrounding cryptocurrencies and fintechs. Witnesses […]
Search Results for: law makers
US Lawmakers Push to Repeal Controversial DeFi Broker Rule
The U.S. House Ways and Means Committee has advanced a resolution to repeal the DeFi broker rule, a regulation requiring decentralized exchanges to report transaction details to the IRS. Lawmakers voted 26-16 on February 26 to move forward with the measure, signaling opposition to the rule set to take effect in 2027. If approved by […]
Tether Collaborates with US Lawmakers to Shape Stablecoin Regulations
Tether has been engaged proactively with politicians in the United States so that it may influence future regulation. According to a FOX Business report, Tether chief executive officer Paolo Ardoino has assured that the company has indeed engaged politicians, maintaining that it must “have voice heard” while navigating regulation. This indicates that the coin is […]
Lawmakers Unveil STABLE Act to Overhaul Stablecoin Rules in U.S
U.S. lawmakers aim to regulate the rapidly growing stablecoin market. The proposed STABLE and GENIUS Acts set strict compliance rules, with major implications for companies like Tether. STABLE Act To Streamline Stablecoin Market House lawmakers introduced a new proposal to regulate stablecoins which focuses on clearer oversight and compliance requirements. The bill, titled the Stablecoin […]
Chinese Lawmakers Urging Swift Crypto Regulation for Blockchain Advancement and Clarity
A Chinese lawyer says that the regulatory and legal framework for China’s new digital currency should be improved. Yuan Xiaobin, a member of the national committee of the Chinese People’s Political Consultative Conference (CPPCC) and also chairman of the Zhonghao Law Firm management committee, has stressed the necessity for a complete law to govern the […]
SEC’s Crypto Accounting Policy Faces Scrutiny from U.S. Lawmakers
Senator Lummis and a coalition of House members are advocating for the repeal of the SEC’s Staff Accounting Bulletin 121, a move aimed at easing the process for companies to hold crypto assets on behalf of their clients. This effort seeks to nullify the contentious accounting guideline issued by the U.S. Securities and Exchange Commission, […]
South Korean Lawmakers’ Crypto Trading Faces Scrutiny: Report
Lawmakers in South Korea have come under intense scrutiny after an Anti-Corruption and Civil Rights Commission inspection uncovered widespread involvement in cryptocurrency trading. From May 30, 2020, to May 31, 2023, the investigation encompassed all 298 sitting lawmakers, revealing substantial irregularities in some instances. According to a recent report, the exhaustive 90-day examination revealed that […]
Taiwan’s Crypto Revolution: Lawmakers Forge Ahead with Dedicated Regulatory Framework
Taiwan’s legislative push for comprehensive digital currency regulation is gaining momentum, with Yung-Chang Chiang, a member of the Legislative Yuan, expressing his intention to introduce a crypto-specific law for initial reading by November’s end or even sooner. The Need for Cryptocurrency-Specific Regulation In an interview, Chiang underscored the necessity of a dedicated digital asset act […]
Historic Stablecoin Bill’s Fate Uncertain After U.S. Lawmakers Dissent Over This
The U.S. created history after the Financial Services Committee passed the “Clarity for Payments Stablecoin” bill with a 34-19 vote, making it the second significant piece of crypto legislation to pass the Committee this week. The bill received support from five Democrats: Rep. Himes, Rep. Gottheimer, Rep. Meeks [D-NY], Rep. Torres, and Rep. Nickel. But […]
Binance.US Liquidity Crisis: Market Makers Abandon Ship Amidst Lawsuits
In a turbulent week for the cryptocurrency market, major exchanges Binance and Coinbase found themselves in the crosshairs of the U.S. SEC. Amidst the chaos, liquidity has taken a hit, particularly for Binance.US. As a result, a wave of volatility and altcoin sell-off ensued, leaving investors and traders on edge. Market makers and traders have abandoned […]