U.S. Congress | ForkLog

ForkLog 22 26.06.2024

US Congressman Proposes Bitcoin Tax Payment Legislation

US Congressman Matt Gaetz introduced a bill that would allow federal income taxes to be paid using the leading cryptocurrency. If passed, the legislation would amend the Tax Code of 1986 and require the Treasury to implement a program for accepting bitcoin. According to the statement, the politician began drafting the legislation after visiting El […]

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ForkLog 5 14.06.2024

Gary Gensler Predicts Timeline for Ethereum-ETF S-1 Approvals

The SEC head suggested the registration of S-1 forms for an ETH-ETF could occur by summer’s end. The absence of staking in an Ethereum-based ETF may limit institutional demand for the product. JPMorgan expressed doubts about sustaining high inflows into BTC-ETFs. Approval of the S-1 for an Ethereum-ETF is possible “by the end of this […]

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ForkLog 5 23.05.2024

US House of Representatives Passes Crypto Regulation Bill

The US House of Representatives has passed a bill on the structure of the cryptocurrency market, known as the FIT21, aimed at regulating the industry as a whole. The bill received 279 votes in favor and 136 against. The Republican-sponsored bill was supported by 71 Democrats, including former Speaker Nancy Pelosi. “FIT21 is the first […]

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ForkLog 21 10.05.2024

Charles Hoskinson Accuses Biden of Aiming to ‘Kill’ the Crypto Industry

US President Joe Biden is allegedly making deliberate efforts to dismantle the country’s cryptocurrency industry, according to Cardano co-founder Charles Hoskinson. Biden and Crypto https://t.co/P06encxBEv — Charles Hoskinson (@IOHK_Charles) May 8, 2024 According to the expert, in recent years the US government has only “harmed” startups. He cited restricted access to bank accounts, the policy […]

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ForkLog 9 17.04.2024

US Senate Receives Revised Stablecoin Bill

Democrat Kirsten Gillibrand of New York and Republican Cynthia Lummis of Wyoming have introduced a bill on payment stablecoins to the Senate, as reported by The Block. The document prohibits unbacked algorithmic stablecoins and implements anti-money laundering measures. The bill requires issuing firms to establish reserves of cash and cash equivalents in a one-to-one ratio […]

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ForkLog 13 16.04.2024

US Senate Probes CFTC’s Ties with Bankrupt FTX

US lawmakers are investigating the relationship between the collapsed bitcoin exchange FTX and the Commodity Futures Trading Commission (CFTC). Senators Elizabeth Warren and Chuck Grassley have sent a letter to the agency’s head, Rostin Behnam. The politicians have requested that the CFTC chairman provide a full report by April 29 on communications and meetings with […]

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ForkLog 7 10.04.2024

US Treasury Seeks Expanded Cryptocurrency Oversight

The evolving use of cryptocurrencies for illicit purposes necessitates additional oversight tools for the US Treasury. This was stated by Deputy Secretary Wally Adeyemo during a Senate hearing. The official mentioned a network operated by Al-Qaeda for several years to raise funds in bitcoin via social media, and cryptocurrency donations to Hamas. “It is important […]

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ForkLog 8 26.03.2024

Elizabeth Warren Labels Cryptocurrency a Tool for Fraudsters

Cryptocurrency aids rogue states, terrorists, and criminal organizations on an unprecedented scale, according to Senator Elizabeth Warren during a hearing in the Senate Armed Services Committee. She stated this in her remarks. “Cryptocurrency is a way to fund these things. It helps rogue states, terrorists, and criminal organizations sustain their operations,” she declared. Warren was […]

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ForkLog 48 28.02.2024

Elizabeth Warren Advocates for Equal Rules for Crypto Startups and Tech Giants

To ensure competition, restrictions are necessary for tech giants in the development of AI models, and crypto companies should adhere to the same rules as TradFi. This was stated by U.S. Senator Elizabeth Warren. “If it’s the same type of activity and risk, there should be similar rules […]. I’m not proposing something tougher. I […]

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ForkLog 12 23.01.2024

US Congress Probes Meta’s Cryptocurrency Plans

Maxine Waters, a member of the US House Financial Services Committee, has requested information from Meta regarding the corporation’s potential plans in the digital assets sector. The legislator addressed a letter to the company’s CEO and founder, Mark Zuckerberg, as well as COO Javier Olivan. The senior Democratic representative expressed concern over five active trademark […]

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ForkLog 15 12.01.2024

Banks’ Stance on Bitcoin ETFs: From Restriction to Broad Access

Banks Citi and UBS are set to add spot bitcoin ETFs to the list of trading instruments available to their clients, in contrast to the stance of several other major institutions. This was reported by CoinDesk. A source from UBS informed the publication that the product will be unavailable to account holders with lower risk […]

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ForkLog 12 13.12.2023

CFTC chief says most cryptocurrencies are commodities

The CFTC chair Rostin Behnam: most cryptocurrencies are commodities, and the CFTC is competing with the SEC for authority to regulate the digital-asset industry.

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