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Tag: Crypto regulation

US Senator Cynthia Lummis, Leading Crypto Advocate, Announces Retirement

US Senator Cynthia Lummis, Leading Crypto Advocate, Announces Retirement

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Sen. Cynthia Lummis (R-Wyo.) has decided not to run for reelection in 2026, ending her Senate term in 2027. As a prominent crypto supporter, her departure represents a loss for the digital assets industry amid ongoing legislative efforts. Rep. Harriet Hageman is reportedly considering a bid for the open seat. U.S. Senator Cynthia Lummis, a key figure in promoting cryptocurrency-friendly policies, announced on December 19,...

Crypto regulation, Cryptocurrencies, Cynthia Lummis, Front page, News

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US Senate Confirms Crypto-Friendly Nominees to Lead CFTC and FDIC

US Senate Confirms Crypto-Friendly Nominees to Lead CFTC and FDIC

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The US Senate voted 53-43 to confirm Mike Selig as chair of the Commodity Futures Trading Commission (CFTC) and Travis Hill as chair of the Federal Deposit Insurance Corp (FDIC). Both nominees, selected by President Donald Trump, are viewed as supportive of cryptocurrency, with Selig pledging to prioritize digital assets and Hill addressing debanking concerns. The appointments could enhance regulatory clarity for crypto, including...

Crypto regulation, Cryptocurrencies, Front page, News

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Federal Reserve Withdraws Restrictive 2023 Crypto Policy Enabling State Banks to Innovate

Federal Reserve Withdraws Restrictive 2023 Crypto Policy, Enabling State Banks to Innovate

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The Federal Reserve Board has withdrawn its 2023 policy statement that imposed strict limits on state member banks engaging in novel activities, including crypto-asset services. A new policy statement introduces case-by-case approvals for uninsured state banks, facilitating responsible innovation in the sector. This regulatory shift aligns with broader changes under the Trump administration, potentially easing access for...

Crypto regulation, Cryptocurrencies, Front page, News, Regulation

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PayPal Applies for Utah Industrial Bank Charter Amid Crypto Expansion Push

PayPal Applies for Utah Industrial Bank Charter Amid Crypto Expansion Push

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PayPal seeks bank status: The company has applied to create PayPal Bank in Utah to bolster small business lending and offer interest-bearing savings. Crypto angle: As issuer of PYUSD, the move could integrate stablecoin settlements into regulated banking. Regulatory context: Follows recent approvals for crypto firms like Circle and Paxos. PayPal Holdings has submitted applications to establish an industrial bank in Utah,...

Crypto regulation, Cryptocurrencies, Front page, News, PayPal, Regulation

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US Teachers' Union Urges Senate to Withdraw Crypto Market Structure Bill Over Retirement Risks

US Teachers’ Union Urges Senate to Withdraw Crypto Market Structure Bill Over Retirement Risks

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The American Federation of Teachers (AFT) has called on the US Senate to abandon the Responsible Financial Innovation Act, citing significant risks to retirement security. The union argues the bill strips safeguards from crypto assets and weakens protections for traditional securities, allowing tokenized stocks to evade regulation. Sponsored by Senators Cynthia Lummis and Kirsten Gillibrand, the legislation seeks to establish a...

Crypto regulation, Cryptocurrencies, Front page, News, Regulation

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