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In a recent development, Senators have initiated an investigation into Binance and its alleged ties to former US President Donald Trump. The probe aims to uncover any potential connections between the cryptocurrency exchange and the Trump administration. This move comes amidst growing concerns about the influence of cryptocurrency on political landscapes around the world. Binance, [...]
After months of meetings with industry experts and AI critics, four U.S. senators published what they say is a comprehensive roadmap for maintaining U.S. leadership in AI development.
If the Justice Dept. prevails in the case against the cryptocurrency mixer, internet service providers and the post office may also be liable to transmitter requirements, they said.
Senator Ted Cruz is partnering with a Texas-based energy company, Flare Energy, to provide sustainable energy solutions for crypto miners in the state. This collaboration aims to address the environmental concerns surrounding cryptocurrency mining by utilizing renewable energy sources. Cruz has been vocal about the importance of embracing innovation while also prioritizing environmental conservation. By [...]
The post Crypto Miner Supports US Senator’s Plan to Encourage Flared Gas Utilization appeared first on Crypto Breaking News.
The stability of Donald Trump’s proposed stablecoin is facing intense scrutiny from financial regulators. The potential launch of this cryptocurrency has sparked concerns among officials who are wary of its impact on the financial system. Regulators are closely monitoring the development of Trump’s stablecoin, which aims to provide a secure and reliable digital asset for [...]
The post Senators demand answers from regulators about Trumps WLFI stablecoin appeared first on Crypto Breaking News.
A Metamask security analyst stated that the rumor was the “2023 adaptation of attempted market manipulation.”
Bankruptcy judge John Dorsey called the bipartisan letter “inappropriate,” and says he won’t take it into account in his decision for an independent examiner.
A group of U.S Senators wrote a letter to Meta’s CEO, Mark Zuckerberg on Thursday to inquire about strategies he is putting in place to mitigate the rise in fraud as a result of cryptocurrency use through Meta’s platforms such as Whatsapp, Facebook, and Instagram as reported by other social media platform (Read More)
Four US Senators are trying to make crypto suck again. Here’s why it’s not a big deal. Covered: US Senators Ask Bank Regulator What This Means For Crypto US Senators Ask Bank Regulator Four US senators asked the office of the comptroller to rescind interpretive letters that set out guidance to banks for how they […]
The post US Senators Ask Bank Regulator To Rescind Crypto Guidance — Here’s Why It’s Not A Big Deal appeared first on CryptosRus.
Australian Senator Andrew Bragg hasmet with U.S. Senator Cynthia Lummis to discuss potential collaboration on cryptocurrency regulation between the two countries. Senator Bragg is a crypto-friendly politician from the ruling Liberal Party (a conservative center right party) that has been one of the driving forces behind a proposed forward-thinking regulatory scheme in Australia. Last year […]
"Responsibility Law for Cryptocurrencies in El Salvador" will allow US States agencies to monitor the capital movements
Continue reading U.S. Prepares to Monitor Bitcoin Operations in El Salvador at DailyCoin.com.
US Senators Doubt Treasury Can Ensure Russia Does Not Evade Sanctions
US Senators Doubt Treasury Can Ensure Russia Does Not Evade Sanctions
US senators urge the Treasury Department to monitor sanctions compliance by the crypto industry. This is to undermine sanctions against Russia. Senator Elizabeth Warren said financial regulators should take the threat seriously. In the wake of the Russian invasion of Ukraine, the global crypto donation to Ukraine has been on an overwhelming growth. Also, talks […]
Bukele said that his country is not the backyard of the United States in response to the request for an investigation made by three US senators.
It’s completely legal for U.S Senators Cynthia Lummis and Pat Toomey to own Bitcoin or crypto-related investments. They just have to disclose it. Does this pose an ethical dilemma? Senators are on the frontlines of policymaking, and the rules around cryptocurrencies are still being written. On the other hand, it’s illogical to think that Senators can’t handle money or have investments. And that’s what cryptocurrencies are. Is there a conflict of interest here? Let’s argue. As a basis, we’ll use and analyze this article, based on the “Wall Street Journal review of public financial disclosures.” How Much Bitcoin Do Lummis And Toomey Have? Senator Cynthia Lummis is on the frontlines of the battle for better legislation around Bitcoin and cryptocurrencies in general. However, we’re centering our discussion around her and Pat Toomey because they’re literally the only Senators that disclosed crypto-related investments. An incredible stat that shows just how early we are. But enough about that, let’s go to the numbers. Reportedly, Cynthia Lummis owns 5 whole BTC. Or, as the WSJ puts it: “Ms. Lummis’s roughly $250,000 of bitcoin makes her the most heavily invested U.S. lawmaker in the digital asset.” For his part, Pat Toomey went for Bitcoin and Ethereum exposure via Grayscale: “In mid-June, Mr. Toomey bought $2,000 to $30,000 of stock in Grayscale Bitcoin Trust and Grayscale Ethereum Trust, investment vehicles that seek to track the coins’ prices. He said the holdings are part of a diverse portfolio.” So far, so good. However… What Ethical Concerns Are There? Recently, via Instagram stories, Alexandria Ocasio-Cortez revealed that she’s not exposed to cryptocurrencies in any way. “I don’t think members of Congress should own / trade individual stocks and I choose not to own any so that I can remain impartial in policymaking,” she said. And later added, “I want to do my job in the most ethical and impartial manner possible.” Does she have a point? Back to the article, let’s quote Lee Reiners, “executive director of the Global Financial Markets Center at Duke University and a former official at the Federal Reserve Bank of New York.” “These two senators are the most vocal when it comes to favorable cryptocurrency regulation. It’s not to say they are motivated by personal financial interest, but it’s fair to question their advocacy. It’s problematic given their holdings.” But, is it problematic, though? Let’s give the Senators the right to reply. BTC price chart for 12/21/2021 on Bitstamp | Source: BTC/USD on TradingView.com How Do Lummis And Toomey Respond? In a recent interview, Toomey said, “Following that logic, then I guess no one in the Senate can invest in anything. That would be ridiculous.” Plus, let’s remember, it’s completely legal for them to do so. In Lummis’ case, take into account that “her bitcoin is part of a broad portfolio that includes her family’s cattle ranches.” The WSJ quotes her: “Somebody said, ‘She should sell her bitcoin.’ It’s like, well, OK, it’s a commodity. Should I also sell my cows? Should I sell my mutual funds? Should I sell my retirement fund, just because it might be invested in something that is a great store of value?” There’s another factor, and this is crucial. The Senators also “say their experience with cryptocurrency gives them expertise on a subject that few on Capitol Hill have studied.” Can you understand Bitcoin if you’ve never used it? Don’t you need to be experienced in something to be able to make informed decisions? If all of the other Senators don’t have cryptocurrency exposure or any experience with this novel technology, how can they be trusted to dictate policy? It’s scary to think that the people deciding over what could become the new paradigm, the evolution of money, have never used the technology and solutions it provides. And that’s the other side of this debate. Featured Image: jensjunge on Pixabay | Charts by TradingView
Senators Cynthia Lummis and Ron Wyden are back again to speak up for the crypto community in Congress. Will their latest crypto amendment to the infrastructure bill make the cut? Covered: Senators’ New Crypto Amendment The Original Infrastructure Bill Governments Around The World Turning To Bitcoin In another episode of the heated infrastructure bill debate, […]
The post Breaking: Senators Fight To Include Last-Minute Crypto Amendment To US Infrastructure Bill appeared first on CryptosRus.
Bitcoin could rise to that spot as people keep losing faith and confidence in governments and their policies, Paul said.
Binance has responded to a letter from U.S. Senators sent earlier this month requesting information about the crypto exchange’s operations in the country, including its balance sheet. Despite omitting financial data from the letter, Binance reportedly sent the information to U.S. regulators. In the 14-page document, Binance's chief strategy officer, Patrick Hillman, addressed the exchange's compliance history and recognized previous mistakes while claiming the firm has built solid Know Your Customer and Anti-Money Laundering policies in recent years. However, the response failed to address the senators’ concerns about Binance’s lack of transparency. (Read More)
The CBDC Anti-Surveillance State Act has been reintroduced in the Senate with the support of five U.S. senators. “As Americans face the prospect of an increasingly weaponized government, ensuring financial privacy is pivotal,” said one senator who supports the bill. A central bank digital currency (CBDC) “would open the door for the federal government to [...]
The post CBDC Anti-Surveillance State Act Back in the Senate appeared first on Crypto Breaking News.
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