76 articles tagged with #congress. AI-curated summaries with sentiment analysis and key takeaways from 50+ sources.
Congress faces a tight deadline of only weeks to pass the crypto CLARITY Act before midterm elections potentially derail the legislation. Banks are actively lobbying against stablecoin companies offering deposit-like rewards, creating a central conflict in Washington's crypto regulatory agenda.
Prediction market activity surged on Iran-related contracts as geopolitical tensions escalated. The CFTC opened rulemaking proceedings while Democrats in Congress moved to ban war and death-related betting markets.
TD Cowen warns that the CLARITY Act, aimed at providing cryptocurrency regulatory clarity, may not pass until 2027 and could take effect as late as 2029 without action by April. Galaxy Digital's Alex Thorn emphasizes the tight timetable for the bill to clear committee by the end of the current legislative period.
A crypto industry expert warns that the US Clarity bill faces diminishing chances of passage as time runs out for lawmakers to fast-track deliberations. The expert suggests that without immediate action, implementing the landmark cryptocurrency legislation may become impossible this year.
TD Cowen believes Congress is moving closer to permanently banning a Federal Reserve Central Bank Digital Currency (CBDC). This potential ban would benefit stablecoin issuers but could complicate the passage of the Clarity Act.
U.S. senators are working on a compromise for the stalled crypto Clarity Act, focusing on stablecoin yield provisions as the legislative window narrows. Lawmakers assured bankers at a Washington summit that the final bill won't put deposits at risk.
An Ohio judge denied Kalshi's motion for an injunction in the prediction market platform's lawsuit against state gaming authorities. The judge ruled that there is no historical evidence showing Congress intended to preempt state gambling laws.
Patrick Witt, executive director of the President's Council of Advisers for Digital Assets, announced bipartisan support for US Strategic Bitcoin Reserve legislation during a speech at the Economic Club of New York. While there is political backing for the initiative, the timing for passage may extend beyond the current Congressional session.
The U.S. national debt has reached 100% of GDP for the first time since World War II. A fiscal watchdog is urging Congress to prepare a 'Break Glass Plan' to address potential economic crises given this unprecedented debt level.
The U.S. Treasury is proposing legislation that would authorize cryptocurrency exchanges to temporarily freeze suspicious funds while law enforcement obtains proper warrants. This proposal aims to provide legal protection for exchanges taking preventive action against potentially illicit crypto transactions.
The U.S. Treasury told Congress that cryptocurrency mixers have legitimate privacy uses while recommending a 'hold law' for suspicious crypto transactions. Treasury data reveals that over $1.6 billion from mixing services has flowed into crypto bridges since May 2020, highlighting the scale of mixer usage in DeFi.
US Senator Ted Cruz is pushing for a permanent ban on central bank digital currencies (CBDCs) through an amendment to the 21st Century ROAD to Housing Act. This represents an escalation from previous short-term prohibition efforts as Cruz continues his campaign against US CBDC development.
The US Treasury has released a report to Congress acknowledging legitimate uses of cryptocurrency mixers, marking a notable shift in regulatory perspective. The report was commissioned under the GENIUS stablecoin regulatory framework directives.
Sen. Cynthia Lummis revealed that US lawmakers are actively exploring ways to allow Bitcoin payments for everyday transactions without triggering capital gains taxes. The Wyoming Republican identified the current tax treatment as a major barrier preventing Bitcoin from functioning as a true medium of exchange.
The House voted 219-212 to pass a war powers resolution limiting Trump's military actions against Iran. The narrow partisan vote reflects congressional efforts to constrain executive war powers amid escalating tensions with Iran.
Congress is reconsidering presidential war powers after decades of allowing unilateral military action. Authorization passed for President Bush during his term has continued without an effective end date through subsequent Obama and Biden administrations.
The CLARITY Act (crypto market structure bill) faces uncertainty after missing the March 1 White House deadline without reaching agreement between banking and crypto industry representatives. Negotiations appear to be stalling despite continued discussions about the bill's future.
Trump met with Coinbase CEO Brian Armstrong and subsequently urged Congress to pass the Crypto Clarity Act. He criticized banks for allegedly blocking stablecoin yield opportunities.
TD Cowen analysts state that Trump's social media posts about crypto legislation are insufficient to advance bills through Congress. They argue Trump's direct involvement is needed but unlikely while the U.S. faces armed conflict with Iran.
President Trump has publicly urged Congress to pass the CLARITY Act crypto market structure bill as soon as possible, addressing the legislative delays that have prevented the bill from reaching his desk. The holdup stems from disagreements between banking industry representatives and crypto advocates, particularly concerning stablecoin reward provisions.
Trump is pushing Congress to advance cryptocurrency regulations as negotiations remain stalled over disputes with banking regulators. The main point of contention involves whether crypto firms should be permitted to offer stablecoin yield products.
Trump has taken a position supporting stablecoin legislation that he describes as 'GENIUS' but claims is being threatened by banking interests. The stablecoin yield debate is reportedly causing delays in broader cryptocurrency market structure legislation in Congress.
A tech billionaire-backed super PAC is spending $125 million to oppose congressional candidates who support AI regulation. Among the targets is Alex Bores, a former tech executive running for Congress in New York who advocates for AI oversight.
The Pentagon and Anthropic are engaged in a regulatory battle over military AI control, while communities nationwide resist data center construction. New York State Assemblymember Alex Bores is attempting to find middle ground in AI regulation amid polarized debates.
Lawmakers introduced a new bill on Thursday aimed at protecting cryptocurrency software developers from criminal prosecution. The legislation raises questions about the status of the broader crypto market structure bill and its potential impact on DeFi regulation.
