Tag Archives: us congress

Bitcoin-skeptic Elizabeth Warren (D-Massachusetts) and other Democratic senators sent a letter to the Federal Reserve on Monday calling for far more aggressive rate cuts than the market expects. “We write today to urge the Federal Reserve (Fed) to cut the federal funds rate, currently at a two-decade-high of 5.3 percent, by 75 basis points (bps) at the Federal Open Market Committee (FOMC) meeting on September 17 and 18, 2024,” the senators wrote. “Too Late” To Cutting Rates...

Fairshake, a pro-crypto and blockchain Super PAC, has now outraised all other Super PACs in the United States heading into the 2024 federal elections. The interest group’s success reflects crypto’s surging role in U.S. politics, which has culminated in vocal support from politicians aiming to protect the industry’s interests. Fairshake PAC Raises $202 Million According to political money tracking site Open Secrets, Fairshake has raised $202,939,294 during the 2024 election...

The Republican National Committee has released its 2024 GOP Platform ahead of this year’s federal election, adopting several stances aligning with Donald Trump’s “America First” policies instead of traditional GOP social issues. That includes a specific policy dedicated to protecting Bitcoin and crypto – an industry that Trump has tightly aligned himself with this year. Republicans Are Officially Pro-Crypto The party’s dedication to crypto is included in chapter 3 of the...

A popular Republican congressman introduced legislation that would require the United States Treasury to accept tax payments in bitcoin. Pay Taxes With Bitcoin The bill, authored by Rep. Matt Gaetz (R-Florida), would order the Treasury Secretary to “develop and implement a method to allow for the payment with bitcoin of any tax imposed on an individual.” The legislation marks the first official national-level efforts from a U.S. politician to bring bitcoin closer to being a...

United States Senator Elizabeth Warren (D-MA) is calling on the Federal Reserve to lower its interest rate target on Thursday – a move most analysts believe would be a boon for crypto markets. The senator’s request puts her in an ironic alignment with crypto investors, whose industry she has repeatedly tried to stifle with burdensome legislation and reporting requirements. Cut Interest Rates Now, Says Senator Warren In a letter to Fed chairman Jerome Powell on Tuesday, Warren...

The United States House of Representatives voted on Thursday in favor of barring the Federal Reserve from directly issuing a Central Bank Digital Currency (CBDC) to its citizens. The CBDC Anti-Surveillance State Act bill garnered support from 213 Republicans and 3 Democrats, making the final tally 262 ‘yea’ to 192 ‘nay’. Republicans Pass Another Crypto Bill The bill, introduced by pro-crypto Rep. Tom Emmer (R-MN), marks the third crypto-focused legislation approved by...

The U.S. House of Representatives passed legislation on Monday that will provide long-sought-after legal clarity around how crypto assets should be classified, registered, and custodied. The bill, titled the Financial Innovation and Technology for the 21st Century Act (FIT21), received near unanimous support from Republicans alongside 71 additional votes from Democrats, resulting in a final tally of 279 ‘yea’ to 136 ‘nay’. A ‘Historic’ Step For Crypto Regulation Crypto...

The United States Senate passed a resolution on Tuesday to scrap a de facto ban preventing the nation’s banks from offering crypto custody services. The vote drew cautious optimism from Bitcoin’s most fervent supporters online and in Congress, who are still wary of a likely veto by the presidential office. Will Crypto Banking Be Possible In The US? As voted on Thursday afternoon, H.J.Res.109 certifies congressional disapproval of Staff Accounting Bulletin 121 (SAB 121), which...

Crypto is now a partisan issue in the United States, and there’s a clear reason as to why, according to a former Coinbase executive. Author and entrepreneur Balaji Srinivasan argued this weekend that digital assets appeal to “American conservatives” and “Chinese Liberals” – demographics that generally aren’t represented by the Democratic party. Crypto Versus Rich Democrats In a tweet this Sunday, Balaji said that crypto is for “small countries and dispossessed minorities,”...

Crypto is emerging as a hot topic in the U.S. presidential election this year, with many voters looking forward to hearing their candidates takes on the asset class. Per a Digital Currency Group (DCG) survey of 1201 registered voters conducted last month, about one in five voters view crypto as a major issue in the 2024 election. Roughly 40% of voters said they want their candidates to talk more about crypto, with most respondents agreeing that crypto regulation needed an...