Bill Huizenga U. Representative [R] Michigan. David F. Kustoff U. Representative [R] Tennessee. Al Lawson Jr. Representative [D] Florida. Barry Loudermilk U. Representative [R] Georgia. Frank D. Lucas U. Representative [R] Oklahoma. Blaine Luetkemeyer U. Representative [R] Missouri. Stephen F. Lynch U. Patrick McHenry U.
Gregory Meeks U. Representative [D] New York. Alex Mooney U. Representative [R] West Virginia. Alexandria Ocasio-Cortez U. Ed Perlmutter U. Representative [D] Colorado. John W. Rose U. Brad Sherman U. Representative [D] California. Bryan Steil U.
Representative [R] Wisconsin. Van Taylor U. Representative [R] Texas. William Timmons IV U. Representative [R] South Carolina. Rashida Tlaib U. Representative [D] Michigan. Ritchie Torres U. Nydia M. Follow nikhileshde on Twitter. The narrative. Why it matters. Breaking it down. The bill itself would:. Have the U. President guessing this means Treasury write a report identifying non-U. Have the President Treasury? Allow the U. Treasury Secretary to block U.
Have the Treasury Secretary identify any resources that Treasury needs days after the bill is signed into law. If there was any data or evidence that suggests crypto is being used to evade sanctions. Whether Sen.
Warren will include a funding provision for these new tasks. I did not receive a response to my email. Changing of the guard. Follow the series all week for stories about this critical aspect of the crypto industry.
CoinDesk reporters Cheyenne Ligon and Fran Velasquez visited the town to see where things stand now, nearly four years later. Outside CoinDesk:. Rest of World Rest of World visited El Salvador to check in on its bitcoin-as-legal-tender experiment six months in. The Washington Post The Post spoke to the residents of Limestone, a town in Tennessee that is now home to a bitcoin mining firm.
Andy jassy. By Nelson Wang. Apr 14, at p. Apr 14, Andy Jassy Amazon. By Eli Tan.
Cascarilla stressed that Paxos did perform due diligence into Facebook and its digital currency ambitions — describing them as a customer. He subsequently stressed that any questions about Novi's plans should be directed to the, not him. Financial inclusion was a dominant theme during the hearing.
A particularly interesting remark came from Democratic Congressman Ritchie Torres. He said he found it "striking" that leading stablecoin issuers have chosen to peg their stablecoins to the U. Everywhere in the world, people want to be able to have U. Crypto is a tool for a lot of different things, including bringing communities together, but what people want for their everyday spending is dollars … That's why tokenized dollars are so valuable.
You don't need to have a bank account yet you can have access to the dollar-based system. That's a very, very important tool for inclusion. But FTX CEO Sam Bankman-Fried described the hearing — which ran for over hour hours — as "productive," adding he was "really grateful for the engagement and thoughts from policymakers.
I'm excited to keep engaging with lawmakers and regulators to refine the regulatory landscape. This was echoed by the Blockchain Association's head of policy Jake Chervinsky, who tweeted:. I mean that literally. It's a testament to the effectiveness of industry and community engagement in DC in recent months.
We've made shockingly big progress. Indeed, some members of the House Financial Services Committee were full of praise for the crypto sector. Republican Congressman Pete Sessions said:. I see a lot of ingenuity, a lot of entrepreneurial spirit, and lots of advice about the future We need to be supportive of you. Sessions added that he was in favor of what these crypto platforms do — and rather surprisingly, told the CEOs:. Inevitably, there were moments that potentially showed that U. Many other central banks are eyeing the sector warily and discussing regulation.
However El Salvador recently declared Bitcoin - the most widely established crypto-currency - to be legal tender and its president plans to build a Bitcoin city at the base of a volcano, with the cryptocurrency used to fund the project. Across the US, as well as many private citizens holding crypto-currencies, states and municipalities have begun toying with plans to integrate them into their operations.
The mayor of Miami and mayor elect of New York have ambitions to make their cities centres for cryptocurrency business. The hearing before the US House Financial Services Committee will focus on "the challenges and benefits of financial innovation", according to the committee announcement. Indian government set to ban cryptocurrencies. Thousands protest against Bitcoin in El Salvador. El Salvador plans Bitcoin city at base of volcano. China declares all Bitcoin transactions illegal.
Image source, Getty Images. Alesia Haas of Coinbase will be amongst witnesses. Indian government set to ban crypto-currencies El Salvador plans Bitcoin city at base of volcano New York's next mayor wants to be paid in Bitcoin. More on this story.
Facebook has chosen a rocky way. Regulators worry that the currency can be adopted for terroristic aims and money laundering. Representatives of several countries suppose that Libra can be used to skirt laws and form a rival coin to national currencies. Zuckerberg defended the project, saying that it is targeted to become a currency which is going to ease the lives of millions of people from every corner of the world.
He made remarks before hearings, where he mentioned that nowadays financial systems are taking too much time and charges, and the US should be innovative by letting Libra become the most convenient way of transferring funds. The CEO of the giant social media has also shown a self-awareness about controversies of Facebook:. Trending: Kraken announced the closure of the headquarters in San Francisco. Workers Comp.
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For the first time, the chief executives of cryptocurrency companies faced questions from lawmakers about risk and regulation. th Congress · Oversight and Investigations (th Congress) The hearing is entitled, "Cleaning Up Cryptocurrency: The Energy Impacts. Stablecoin regulation was front and center at a Congressional hearing on crypto Wednesday that was surprisingly cordial -- likely due to the.