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Tag: Crypto regulation

Senate Banking Committee Delays Crypto Market Structure Bill Markup Amid Coinbase Opposition

Senate Banking Committee Delays Crypto Market Structure Bill Markup Amid Coinbase Opposition

The Senate Banking Committee has postponed its markup of the digital asset market structure bill due to ongoing bipartisan negotiations. Coinbase CEO Brian Armstrong publicly opposed the bill, citing concerns over stablecoin rewards, tokenized equities, and erosion of CFTC authority. The delay highlights tensions between crypto innovation and traditional banking interests, potentially extending regulatory uncertainty. The...

Crypto regulation, Cryptocurrencies, Front page, News, Regulation

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US Senator Cynthia Lummis, Leading Crypto Advocate, Announces Retirement

US Senator Cynthia Lummis, Leading Crypto Advocate, Announces Retirement

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, 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

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

The Federal Reserve Board has withdrawn its 2023 policy statement that imposed strict limits on state member banks engaging in novel activities, including crypto-asset services.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...

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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

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,...

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