The final version of the bill’s text, reviewed by CoinDesk in July, revealed that it contained a smart-contract kill switch clause.
US lawmakers introduce CLARITY Act to limit federal ties with Chinese blockchain
The act aims to explicitly forbid U.S. government officials from engaging in transactions with iFinex, the parent company of USDT issuer Tether.
Rep. Tom Emmer proposes to defund SEC’s crusade against crypto
Rep. Tom Emmer added a provision in the House GOP spending bill that would block the SEC from using government funds to pursue crypto companies until Congress weighs in on who has jurisdiction over crypto.
U.S. House’s Spending Bill Aims to Hamstring SEC’s Gensler Amid His Crypto Crackdown
As the U.S. House of Representatives weighs legislation on next year’s spending, a provision was added on Wednesday that would deprive funding from U.S. Securities and Exchange Commission (SEC) enforcement actions against crypto businesses.
SEC Inspector General says prohibition on crypto ownership hinders agency hiring
Besides being short on crypto specialists, the SEC OIG noted a litany of problems that are already familiar – lack of legislative clarity, lack of interagency coordination, etc.
XRP, TON win approval in Dubai International Financial Centre free trade zone
The new tokens join the ranks of BTC, ETH and LTC for use by the 4,000-plus companies located in the zone, which is considering new legal measures as well.
GAO finds controversial SEC guidance is subject to congressional oversight
The SEC’s Staff Accounting Bulletin 121 has been the target of much criticism in the crypto community.
Coinbase-Backed Advocacy Group Enlists Crypto Masses, Raises $2M From 80,000
A Coinbase (COIN) effort to drum up a cross-country swell of amateur crypto advocates – the nonprofit Stand With Crypto – has paid off with a surge of more than 100,000 individuals getting involved in the opening weeks, organizers say.
Marshall Islands Further Strengthen’s Law That Made DAOs Legal Entities
The Republic of the Marshall Islands has passed legislation that takes its already advanced law for decentralized autonomous organizations (DAOs) a step further.
Taiwan Crypto Regulation Gets Going With First Reading of Digital Asset Bill
The bill sets the groundwork for defining what a virtual asset is and how exchanges should operate in Taiwan.
Despite U.S. House Gridlock, Senator Gillibrand Bullish on Stablecoin Bill, Illicit Finance Legislation
Even as the U.S. House of Representatives is paralyzed by a Republican leadership drama, U.S. Sens. Kirsten Gillibrand (D-N.Y.) and Cynthia Lummis (R-Wyo.) are still pressing to get crypto legislative through.
South Korean regulator outlines steps to enhance digital asset legislation
The Virtual Asset Users Protection Act was passed in June without a sufficient regulatory framework, the head of South Korea’s Financial Supervisory Service said.
Hamas’ Crypto Ties May Lend Energy to Sen. Warren’s Money Laundering Bill
The revelations that the terrorist group behind last week’s attack on villages in southern Israel that left more than 1,200 Israelis dead was partially funded with cryptocurrency may lend additional weight to an effort from Sen. Elizabeth Warren (D-Mass.) and others to push for a law targeting money laundering and sanctions abuses in crypto.
U.S. House Speaker Drama Could Threaten to Unravel Crypto’s 2023 Chances
Republicans in the U.S. House of Representatives are sprinting toward the worst case scenario in their scramble for a new speaker of the House, and their infighting could worsen the prospects for crypto legislation this year.
House committee chairman threatens SEC chair with subpoena, but not over crypto
U.S. House Oversight and Accountability Committee chair James Comer thinks Genlser is stonewalling him. Crypto supporters know the feeling.
Crypto Bills May Depend on U.S. House GOP Battle Over Scalise Speaker Pick
The U.S. House of Representatives won’t get back to work on crypto legislation if Republicans can’t unify behind majority choice Steve Scalise – or some alternative – after the party’s ousting of Speaker of the House Kevin McCarthy (R-Calif.) derailed the congressional agenda.
Crypto Needs Congress, But U.S. Lawmakers Have Opted for Pandemonium
Without the U.S. Congress outlining a clear system of rules, the crypto industry fears it’ll be relegated as a volatile financial backwater. But Capitol Hill is beset by drama, including a U.S. House of Representatives that fired its speaker and a budget debate that could derail the federal government.
Crypto-Friendly Congressman McHenry Temporarily Takes Over U.S. House
Crypto-friendly Rep. Patrick McHenry (R-N.C.) has landed in the driver’s seat of the U.S. House of Representatives just as legislation to establish digital-asset regulations nears a finish line there.
U.S. House Bill Seeks Centralized Record of Off-Chain Crypto Transactions
It would be hard for a big exchange to repeat an FTX collapse if the firm’s internal flow of crypto assets was also reported to an outside repository that U.S. regulators could see. That’s the idea behind new legislation from Rep. Don Beyer (D-Va.) that would force exchanges to share the movement of digital assets now only recorded on their own ledgers.
Crypto bills could be delayed as many prepare for US gov’t shutdown
Bills focused on crypto regulation, market structure, and stablecoins could all be put on hold if U.S. lawmakers don’t reach a decision on government spending by Sept. 30.