Why This Congressman Believes Kamala Harris Would Be 'Balanced' on Crypto as President Rep. Wiley Nickel believes that Kamala Harris will be more favorable to the crypto industry than President Joe Biden if she becomes president. Nickel and other pro-crypto House Democrats have sent a letter to the Democratic National Committee, requesting pro-crypto measures and engagement with industry leaders. Nickel is optimistic about the prospect of a Harris Administration's crypto policy and hopes that crypto will be included in the Democratic Party's national platform.

Golden Finance reported that Rep. Mike Flood, a member of the U.S. House of Representatives, stated that while President Biden's veto is disappointing, it is not the final decision on SAB 121. Digital assets and cryptocurrencies will continue to exist and will be a key component of the future of U.S. finance.

Golden Ten Data on May 31, after Trump became the first former president of the United States to be found guilty, the website that handles donations to President Trump's campaign collapsed due to excessive traffic. Some people with deep pockets are happy to donate to Trump's campaign. Sean Maguire, a venture capitalist and partner at Sequoia Capital, said he donated $300,000 to Mr. Trump and said the timing was not a coincidence. Former New York Rep. Lee Zeldin also spoke out that he had "raised" $800,000 for Trump's Joint Ways and Means Committee, saying that fundraising had never been easier.

In a letter to SEC Chairman Gary Gensler, U.S. Rep. Wiley Nickel said U.S. securities regulators had turned Crypto Assets regulation into "political football" and that its "open hostility" did not help President Joe Biden. Nickel claims this will prevent U.S. banks from massively escrow Crypto Assets exchange trading products, which creates "concentration risk" by handing more long control to non-bank entities.

Golden Ten Data on May 9, the U.S. House of Representatives voted 359 in favor, 43 against, and 7 abstentions to pass a resolution to shelve Rep. Marjorie Taylor Green's long wick candle against Speaker Mike Johnson's impeachment motion, preventing the motion from being voted on in the House of Representatives. Green filed a motion for impeachment against Johnson a month ago, citing Johnson's agreement to consider the aid bill and allowing the federal government's $1.2 trillion fiscal year 2024 budget package to pass. She brought the motion to the House of Representatives session on the 8th, forcing the Republican leadership to take action on the motion and vote on it within two business days.

U.S. Republicans who support Crypto Assets are poised to lash out at the U.S. SEC (SEC) this week, demanding that the agency withdraw its current guidance, which they believe is hindering banks from providing Crypto Assets custody services, Golden Finance reported. On Wednesday, the House of Representatives will vote on a joint resolution proposed by Rep. Mike Flood to veto Employee Accounting Advisory No. 121, commonly known as SAB 121, to Congress. The Senate also introduced a companion resolution. SAB 121 outlines the opinions of SEC staff regarding the risks that Crypto Assets custodians should consider and sets out the relevant disclosure requirements under the federal securities laws. While the SEC has positioned the SAB as guidance rather than informal rule, Flood said Monday that SAB 121 represents both a policy change and a controversial change. The SEC also bypasses the traditional SAB development process, which typically involves negotiations with federal banking institutions.

On May 2, two Republican hardliners in the United States announced on Wednesday that they would force a vote on the removal of House Speaker Mike Johnson, a move that will almost certainly not pass, and will also intensify the deeply divided ideological hostility within the party. House Democratic leaders pledged on Tuesday to join Johnson's Republican allies, which would give him enough vote support to thwart the move to remove the speaker. Ultraconservative Rep. Marjorie Taylor Greene from Georgia and Thomas Massie from Kentucky announced at a press conference outside Congress that recall proceedings will begin next week, calling for a vote in two legislative days. The two lawmakers slammed Johnson for working with Democrats to pass a $95 billion aid bill.

A U.S. Democratic aide said that highly anticipated advocates of stablecoin legislation are trying to link it to an unrelated reauthorization bill that must be passed, but leaders in the Senate and House of Representatives are trying to get this out of such attachments. This week, U.S. lawmakers engaged in serious discussions about whether to include stablecoin regulatory amendments in the Federal short Aviation Administration's reauthorization legislation, which is nearing its deadline. Protocol to the aide, this use of the bill for other businesses was rejected by leaders who supported the so-called "clean bill," so negotiations on a major stablecoin between House Financial Services Committee Chairman Patrick McHenry and Democratic Rep. Maxine Waters will return to negotiations on a final agreement. （CoinDesk）

Odaily Planet Daily News Senior U.S. Rep. Maxine Waters said a stablecoin bill is imminent. She said the stablecoin bill only needed "a few more tweaks" to make progress in the House of Representatives. （Cointelegraph）

coin U.S. Rep. Maxine Waters said the final version of the stablecoin bill could soon be ready for consideration by the U.S. House of Representatives, U.S. Rep. Maxine Waters said. Waters is optimistic that the legislation will be passed in the short term, stressing the importance of investor protection and asset support. He reiterated the need for strong regulatory measures to protect the interests of consumers and ensure the stability of the financial system. With input from key stakeholders such as the Federal Reserve, the Treasury Department, and the White House gaining momentum in congressional debates, momentum is gaining momentum to move forward with a flat coin law ahead of the election.

coin Rep. Maxine Waters, the Democratic leader of the U.S. Financial Service Council, predicted on Wednesday that she and Chair Patrick McHenry will soon reach protocol stablecoin regulatory legislation, coin Commons reported. Waters said in an interview that we are working towards a stablecoin bill in the near term, has discussed stablecoins with Senate longing leader Chuck Schumer and Senate banking chair Sherrod Brown, and said the Federal Reserve, Treasury Department and the White House have all provided input to draft the bill.

PANews reported on April 23 that, according to The Blcok, according to the latest report by investment bank TD Cowen, the Senate's new "Lummis-Gillibrand Payment stablecoin Act" will have a positive impact on stablecoin issuance. "In our view, the Lummis-Gillibrand Act is good for stablecoin issuance because it will set clear rules for the industry," TD Cowen said. In addition, it is also symbolic for the encryption industry as a whole, as it will be the first constructive encryption bill introduced by Congress. "If passed, the bill would require stablecoin issuance parties to hold a one-to-one reserve of cash or cash equivalents to support their Token. The bill also prohibits Algorithmic Stablecoins and prohibits issuance and users from using stablecoins for illegal or unauthorized purposes, such as Money Laundering. The Act also gives federal and state-level agencies responsibility for licensing and enforcement. Lummis and Gillibrand said they received technical assistance from the Federal Reserve, the Treasury Department, and financial regulators in Wyoming and New York. TD Cowen said the Biden administration is likely to support the bill, but noted that the bill still faces "significant obstacles," such as maintaining the support of the White House and incorporating it into a broader legislative package. TD Cowen added that stablecoin legislation could also spur M&A activity. "If this approach is adopted, we believe it could lead to a merger between banks and stablecoin issuance parties, as issuance want to gain an advantage as a bank, and banks looking to play a role in the stablecoin space want to gain access to the user base of existing issuance parties," the report said. ” House Financial Services Committee Chairman Patrick McHenry and veteran Democrat Maxine Waters have been working on a regulatory framework for stablecoins. Industry sources said negotiations were at an impasse over who should be the main regulator for the stablecoin issuance side. TD Cowen said the compromise between the two sides could be similar to the Senate bill. "We continue to believe that the protocol still under negotiation between House Financial Service Committee Chair Patrick McHenry and Rep. Maxine Waters will be the base text of the final bill," TD Cowen said in the report. However, the Lummis-Gillibrand bill is still important because it gives us an idea of what McHenry and Waters might be proposing. ”

PANews reported on April 9 that U.S. Senator Elizabeth Warren criticized efforts to advance the stablecoin bill in a letter to House Financial Services Committee Chairman Patrick McHenry (R-N.C.) and Rep. Maxine Waters (D-Calif.) on Monday. Warren warned that stablecoins pose a risk to the banking system and national security, and in her letter she expressed concerns about the current efforts to push for a stablecoin bill. The stablecoin bill passed the House Financial Services Committee over the summer, but has stalled over bipartisan controversy. Warren urged members of the House of Representatives to be aware of the magnitude of these risks when considering proposals to regulate stablecoins, and to avoid introducing stablecoin legislation that could trigger another financial crisis. In addition, Warren's letter also raised the issue of the use of stablecoins in illicit financial activities, citing a report by the U.S. Treasury Department on the increased use of stablecoins in terrorist financing. She advises legislators to exercise caution when developing an appropriate regulatory framework for stablecoins.

U.S. Rep. Patrick McHenry and Senator Cynthia Lummis both said that Congress could pass a stablecoin bill this year, but they could not say when it would happen.

U.S. Republican Rep. Tom Emer said that the Federal Reserve has listed central bank digital currency (CBDC) as one of its key responsibilities. He posted a photo on social media showing the Fed listing the CBDC as one of the basic responsibilities of the payment system in a presentation to his staff, behind the currency and FedNow program. However, a Fed spokesperson declined to comment on this statement. Previously, Fed Chair Jerome Powell said before the Senate Banking Committee that the Fed has not yet proposed or adopted a CBDC. This statement sparked controversy over CBDCs. （The Block）

Rep. Tom Emmer, the Republican representative of Minnesota, expressed displeasure with the recent move by the U.S. Office of Management and Budget (OMB) to authorize the collection of data from U.S. Bitcoin Mining companies. Emmer said he wanted answers from OMB after government agencies last month allowed the Energy Information Administration (EIA) — a statistical and analytical agency within the U.S. Department of Energy — to begin investigating the electricity consumption of certain crypto Mining companies. In a letter sent this week to OMB Director Shalanda Young, Emmer raised concerns about OMB's use of its emergency approval authority and said Bitcoin Miner does not pose a threat to public safety at this time. Bitcoin Mining is not a threat to public safety. That's it, Emmer said in a post on X on Thursday. OMB abused its emergency powers to attack Bitcoin Miner, which requires an explanation. Emmer said the agency must demonstrate to OMB that "public harm is likely to occur," among other guidelines. （The Block）

PANews reported on February 21 that the House of Representatives of the United States Congress announced on February 20 local time that a bipartisan task force centered on artificial intelligence (AI) will be established. U.S. House Speaker Johnson reportedly said in a press release that he and Minority (Democratic) leader Jeffries each appointed 12 members to the working group. The study panel will be chaired by Republican Rep. O'Bernott and Democratic Rep. Ted. The panel will produce a report that includes recommendations for the future and bipartisan policy proposals related to AI.

PANews News on February 8, according to Cointelegraph, California Democratic Rep. Maxine Waters said that U.S. lawmakers are "very close" to reaching an agreement on the Stable Coin bill. It is reported that Waters has been in talks with House Financial Services Committee Chairman Patrick McHenry on the matter for more than 20 months. The Payment Stable Coin Transparency Act is one of the most prominent Stable Coin bills that has been tabled in Congress and was initiated by McHenry.

PANews reported on February 2 that, according to CoinDesk, members of the U.S. Congress are trying to remove the controversial SEC accounting announcement (known as Employee Accounting Announcement No. 121), which implies restrictions on companies that want to hold their customers' crypto assets. On Thursday, Senators Cynthia Lummis (R-Wyoming), Rep. Wiley Nickel (N-N.C.) and Mike Flood (N.R.N.) introduced corresponding resolutions in the Senate and House of Representatives formally opposing the accounting standard and concluding that it has no legal force. Rep. Flood said in a statement: "Despite the impact of accounting standards on the treatment of assets under custody by financial institutions, the SEC issued SAB 121 without consultation with prudential regulators, and the SEC issued SAB 121 without a notice and comment process, and Congress's role is to act as a check and balance in the face of ultra vires actions by regulators." Crypto Assets lobbies such as the Digital Chamber of Commerce applauded this effort.

U.S. Republican Rep. French Hill said at an event on Monday that he is optimistic about the prospects for the Stable Coin Regulation Act of 2024 and another bill that focuses on market structure, and that he is also willing to listen to the views of the Democratic top on illicit finance. French Hill talked about the Payments Stable Coin Clarity Act and the 21st Century Financial Innovation and Technology Act, both of which were introduced by the House Financial Services Committee last year. "I remain optimistic that these bills will be achieved in 2024," he said during the panel discussion. （The Block）

U.S. Rep. Tom Emmer expects former U.S. President Donald Trump to become "more" friendly to Crypto Assets if he returns to the White House. Trump has launched three irreplaceable Token (Non-fungible Token) series since leaving office. At the same time, some analysts predict that if Trump wins this year's presidential election, the price of Bitcoin could hit a new all-time high.

Rep. Blaine Luetkemeyer, Republican of Missouri, announced that she will retire at the end of the year, which means that Rep. French Hill, Republican of Arkansas, has the opportunity to take over as chairman of the House Financial Services Committee. Hill leads the committee's Digital Assets Focus Group and works on crypto legislation on Stable Coins and more.

U.S. Rep. Phil Christofanelli of Missouri has introduced a bill in favor of Crypto Assets, called the Digital Rights Act, Golden Finance reported. This legislation ensures that individuals have the right to self-custody of Bitcoin and is exempt from state Capital Gains Tax on Bitcoin transactions under $200.

According to a report by IT House, citing The Verge on the 23rd, two lawmakers in the United States submitted a new bill involving artificial intelligence, the Artificial Intelligence Foundation Model Transparency Act, which requires the creator of the base model to disclose the source of the training data, so that the original copyright holder can know that his work has been "misappropriated". Two Rep., Anna Eshoo and Don Beyer, will reportedly direct the FTC (Federal Trade Commission) to work with the National Institute of Standards and Technology to develop rules for training data transparency reporting. At present, the bill still needs to be allocated to the relevant committees for discussion, and it will take time to complete.

Three U.S. presidential candidates (entrepreneur Vivek Ramaswamy, former Arkansas Governor Asa Hutchinson, and Democratic Rep. Dean Phillips) called for the creation of a clear regulatory framework for crypto at an industry conference, with each candidate giving a speech on cryptocurrency policymaking, and their views focused on establishing a unified regulatory framework, including limiting the powers of federal regulators, Crypto education for policymakers and protection of developers from criminal charges.

Recently, U.S. Rep. Herb Conaway introduced a bill to the New Jersey legislature to classify cryptocurrencies sold to institutional investors as securities. The proposed legislation clearly states that all virtual currencies issued and sold to institutional investors are classified as securities, and the bill defines institutional investors as entities such as banks, hedge funds, endowment funds, private equity firms, pension funds, mutual funds, and other qualified institutional buyers recognized by federal regulators. At the same time, the scope of the bill is limited to the state level and may not meet the standards of the Federal Securities and Exchange Commission (SEC).

Patrick McHenry, chairman of the Financial Services Committee of the U.S. House of Representatives, plans to retire when his term expires in January 2025, Golden Finance reported. The departure of the North Carolina Republican will be a blow to the cryptocurrency industry. The industry has always viewed McHenry as one of its strongest allies in Congress. The legislation he supported was supported by many in the cryptocurrency industry, while some Democratic lawmakers criticized the laws as not being tough enough. In a statement announcing his retirement plan on Tuesday, McHenry said that it was not an easy decision for me, but I believe that everything in the world has a time, and the time has come for me.

Rep. Patrick McHenry, who has been a staunch supporter of the crypto industry, will retire in January 2025 after his current term ends. House Financial Services Committee Chairman Patrick McHenry said in a statement Tuesday: "I will retire from Congress at the end of my current term. It wasn't an easy decision for me to make, but I believe that everything has its time, and for me, it's over. ” Patrick McHenry led the committee's efforts to advance cryptocurrency legislation over the summer, including a bill that would regulate stablecoins at the federal level, and another bill that would provide a comprehensive methodology for the structure of the cryptocurrency market. Both bills need to be supported by the Senate, which could be difficult next year. Cody Carbone, Vice President of Policy at the Digital Commerce Chamber of Commerce, said: "This is a sad day for the digital asset industry. Chairman McHenry has been an advocate of innovation in this industry. ”

Rep. Maxine Waters called on U.S. lawmakers to hold a meeting on crypto-related issues, and she wants to organize a group of lawmakers to take a deeper look at the companies operating in the industry and look at how to regulate them.

Patrick McHenry (RN.C.), chairman of the Financial Services Committee of the U.S. House of Representatives, announced that he will retire at the end of his current term and will not seek re-election. McHenry has been the Republican core negotiator for the stablecoin bill, which is nearing the end of negotiations with the committee's senior Democratic Rep. Maxine Waters, a Democrat. Maxine Waters said she remains willing to get the job done and that the legislation is widely seen as the most likely to be approved and likely to succeed in the Democratic-controlled Senate.

At the Blockchain Association Policy Summit, when asked about the U.S. Treasury Department's cryptocurrency proposals, Rep. Tom Emmer of Minnesota, a member of the House Financial Services Committee, slammed the U.S. Treasury Department's proposal to strengthen control over cryptocurrencies, criticizing the agency for having a "messian-like complex," according to Golden Finance. The U.S. Treasury Department made recommendations to lawmakers this week, including one on new sanctions tools, and another that would strengthen its authority over dollar-based stablecoins. Deputy Secretary Wally Adeyemo said that "dollar-backed stablecoin providers" outside the U.S. can't use the U.S. dollar without putting in place procedures to stop terrorists from using its platform. "They wanted to incorporate that into the surveillance security posture they created," Emmer said. We can't let it happen, it's the purview of Congress, not his."

U.S. Republicans originally hoped that the U.S. crypto legislation would pass the House of Representatives this year, but the main lawmakers are now aiming for 2024, when the digital assets bill may pass the Republican-controlled House of Representatives. The Democratic-controlled Senate still faces a dilemma. Rep. French Hill, Republican of Arkansas, who chairs the U.S. House Financial Services Committee's subcommittee focused on digital assets, said the House is considering two major cryptocurrency bills, one designed to regulate U.S. stablecoin issuers and the other aimed at forming a broad system of rules for the cryptocurrency market, which may have been moved to "early 2024." Senator Kirsten Gillibrand (N. N. N.Y.), who worked with Lummis on crypto legislation, said that "it will take time to pass the law."

PANews reported on November 16 that according to CoinDesk, Patrick McHenry (R-NC), chairman of the Financial Services Committee of the U.S. House of Representatives, and Rep. Rich Torres (DN.Y) led a group of nine lawmakers to urge the Treasury Department to revise its proposed digital asset tax system. The group supported cryptocurrency representatives and lawyers who called the proposed tax plan a "dangerous and improper ultra vires." "If finalized, the proposed regulation's definition of a digital asset 'broker' is too broad, the definition of 'digital asset' is inadequate, and the unreasonably short comment period could prevent a significant digital asset ecosystem from continuing to exist in the United States. The main crux of the controversy is also how the proposal would treat custodial wallet providers, payment processors, some decentralized finance (DeFi) entities, and other entities as "brokers" for tax reporting purposes.

PANews reported on November 9 that U.S. Rep. Tom Emmer said on the X platform: "My nonpartisan appropriations amendment was passed in the House of Representatives today without any objections, curbing the SEC's law enforcement abuse of the digital asset industry, and Congress will hold unelected bureaucrats accountable." ” Earlier today, Tom Emmer was pushing for an amendment to how the SEC uses funds to prohibit the SEC from using its budget funds to take enforcement action against crypto companies until Congress passes legislation granting the SEC jurisdiction over the asset class.

U.S. Rep. Tom Emmer is pushing through an amendment to how the SEC uses its funds. Emmer's amendments to the Financial Services and General Government Grants Act, which passed an acclamation vote in the House of Representatives on Wednesday, intend to prohibit the SEC from using its budget to take enforcement action against crypto companies until Congress passes legislation giving the SEC jurisdiction over the asset class. In a speech ahead of this week's Rules Committee hearing, Emmer blamed Chairman Gary Gensler for the SEC's "runaway" spending, as it continued a "pattern of abusive regulation" targeting players in the digital asset space. "At a time when clear guidance is desperately needed, Chairman Gensler has instead spent taxpayer resources praising himself for targeting celebrities like Kim Kardashian, while Sam Bankman-Fried (SBF) is carrying out a Ponzi scheme right under his nose," Emmer said. ” Emmer added: "The unique nature of digital assets makes it difficult to incorporate into any existing regulatory framework. But that doesn't mean any federal bureaucracy with the most taxpayer-funded law enforcement resources can arbitrarily regulate the field. ”（Blockworks） Previously, on September 9, it was reported that Tom Emmer proposed a grant amendment that would limit the SEC's enforcement actions against the crypto industry.

U.S. lawmakers introduced a bill on Wednesday that would prohibit federal officials from doing business with Chinese blockchain companies. The bill also explicitly prohibits U.S. government officials from transacting with iFinex, the parent company of Tether, the issuer of the world's largest stablecoin, USDT. The CLARITY Act, co-led by U.S. Rep. Zach Nunn and Abigail Spanberger, would ban government officials from transacting with Chinese crypto companies, and cut off government employees from using China's blockchain or the networks that underpin crypto trading platforms. The purpose of this latest legislation is to ensure that the nation's "foreign hostile forces have no back door to access critical national security intelligence and private information of Americans," lawmakers said in a statement. The bill also prohibits officials from transacting with Spartan Network, Conflux Network, and Red Date Technology Co., the architect of China's national blockchain project and its central bank digital currency (CBDC), or digital yuan. （Coindesk）