2019-12-6 03:45 |
Crypto-hater U.S. Congressman Brad Sherman gets elected as Chair of Congressional subcommittee on investor protection
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The crypto industry has – with the addition of another $25 million from Coinbase Inc. on Monday – amassed one of the largest stockpiles of campaign cash in U.S. politics.
In a rare lobbying overlap with crypto world, Wall Street banks and members of Congress are asking President Joe Biden to reverse course on his vow to veto the U. S. congressional resolution to overturn the U.
While many in the industry cheered the passing of the Financial Innovation and Technology for the 21st Century Act yesterday, many other raised criticisms and concerns.
The U.S. House of Representatives is poised to vote on a resolution Wednesday to reject the Securities and Exchange Commission (SEC) cryptocurrency accounting guidance that the industry said has deterred banks from handling crypto customers, but President Joe Biden is already promising he'll veto the effort if it hits his desk.
U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler has been accused of misleading Congress by Rep. Patrick McHenry, the chairman of the House Financial Services Committee, who said Gensler's agency already knew it considered Ethereum's ether a security before he attended a hearing and declined to answer that question.
Shomari Figures, a Washington insider with a lengthy progressive resume, didn't pull in the most money in direct contributions as he sought one of Alabama's seats in the U. S. House of Representatives.
U.S. Rep. Patrick McHenry (R-N.C.) said some of the recent chaos in Congress derailed crypto legislation for a while, but a stablecoin bill is largely worked out in the House of Representatives and just needs a schedule floor vote.