The bill was introduced in the evening and has not been published yet, but it is already causing a stir. Crypto Twitter calls it a “nonstarter.”
Unpacking the Latest Lummis-Gillibrand Bill Draft
U.S. Senators Cynthia Lummis and Kirsten Gillibrand have developed a second draft of their comprehensive crypto regulation bill. Chances are slim that it will, as a single bill, advance to becoming a law, but it may still drive a broader conversation within Congress on what sort of provisions smaller pieces of legislation should include.
A Second Round of the Lummis-Gillibrand Crypto Bill Elevates CFTC, Defines DeFi
The U.S. Securities and Exchange Commission (SEC) would take a back seat in a crypto oversight bill being re-launched by Sens. Cynthia Lummis (R-Wyo.) and Kirsten Gillibrand (D-N.Y.), which would require that crypto exchanges be overseen by the Commodity Futures Trading Commission (CFTC) and all stablecoin issuers be regulated depository institutions.
Israeli Lawmakers Support Axing Crypto Capital Gains Tax for Foreigners
A bill exempting foreign residents from capital gains taxes on crypto sales, and lowering tax on stock-options-like crypto options for employees has passed a preliminary reading in the Knesset.
UK Lords Pass Bill to Help Seize and Freeze Crypto Used for Crime
The bill, introduced in September, now enters its final stages in Parliament.
Belarus Looks to Ban Peer-to-Peer Crypto Transactions to Reduce Fraud
The east European country is working on legislation to make it harder for fraudsters to get their hands on the proceeds of crime.
Don’t follow the US: Blockchain Aus CEO hammers ‘regulation by enforcement’
Blockchain Australia, the country’s peak crypto industry body has announced a new CEO who wants to speed up the crypto regulatory process.
Fed sees stablecoin as form of money, wants ‘robust’ role in its oversight, Powell says
The Federal Reserve chair gave his opinion on draft crypto legislation at the House Financial Services Committee’s semi-annual Fed policy hearing.
Fed Chair Powell Says Central Bank Needs ‘Robust’ Role Overseeing U.S. Stablecoins
Federal Reserve Chairman Jerome Powell argued for the need for strong central-bank oversight in stablecoin regulations being crafted by lawmakers in the House Financial Services Committee.
New Stablecoin Bill Drafted by House Republicans as Compromise With Democrats
The Republican chair of the House Financial Services Committee has released a new draft of the leading U.S. legislative proposal for overseeing stablecoins, and it includes some of the positions of Democratic lawmakers.
U.S. House Republicans Push for Crypto Oversight With Bill to Make SEC Play Ball
Crypto exchanges would gain a path to registering with the U.S. Securities and Exchange Commission (SEC) and would be able to trade digital securities, commodities and stablecoins all in one place under a proposal from the Republican chairs of the two House of Representatives committees trying to hash out a bill.
U.S. Sen. Elizabeth Warren Calls for Shutdown of Crypto Funding for Fentanyl
U.S. Sen. Elizabeth Warren (D-Mass.) cited the rampant use of cryptocurrency in the Chinese fentanyl trade during a Wednesday Senate hearing, arguing for legislation to help break that pipeline.
House Democrats Consider New Stablecoin Bill Proposal: Source
House Democrats on the Financial Services Committee are considering a new version of proposed stablecoin bill weeks after Republicans on the committee introduced their own discussion draft.
Joint U.S. House Hearing on Crypto’s Future Opens With Discord
Relevant House committees decided to meet together to figure out how to move forward with legislation, but one key Democrat pushed back on the need for special crypto rules.
House Republicans Make Case on Stablecoin Bill After Democrats Called for Do-Over
Republicans on the House Financial Services Committee are taking another swing at stablecoin legislation with a discussion draft revealed Monday afternoon, which may mark a new starting point for negotiations with Democrats.
Draft U.S. Stablecoin Bill Shows Major Difference Between Stablecoins and CBDCs
Circle exec to join US Congressional committee hearing on stablecoin payments, legislation
The Financial Services Committee issued a memorandum to announce an upcoming hearing titled “Understanding Stablecoins’ Role in Payments and the Need for Legislation.”
US House Committee Publishes Draft Stablecoin Bill
The stablecoin is the first major piece of crypto legislation in 2023.
US share of global crypto developers fell 26% in 5 years — a16z
In 2018, nearly 40% of all crypto developers were based in the United States, whereas in 2022, this figure had fallen to less than 30%.
Texas Bill Limiting Benefits for Crypto Miners Unanimously Passes Committee Vote
Texas is a major hub for bitcoin miners, many of whom have taken advantage of demand response programs, which the bill looks to curb.