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Congress


A new Congressional bill would update the mandate of the Financial Crimes Enforcement Network (FinCEN) to include a specific focus on cryptocurrencies. The FinCEN Improvement Act (H.R. 6411), filed jointly by U.S. Congressmen Ed Perlmutter (D-CO) and Steve Pearce (R-NM) on July 18, directs FinCEN to look into how cryptocurrencies might be used in terrorism …

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Michael J. Casey is the chairman of CoinDesk’s advisory board and a senior advisor for blockchain research at MIT’s Digital Currency Initiative. The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers. Progress? Judging from the most eye-catching headlines from two separate hearings on Capitol Hill Wednesday, …

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The director of the Commodity Futures Trading Commission (CFTC)’s fintech initiative cautioned against what he called “hasty regulatory pronouncements” during a Congressional hearing on Wednesday. The remarks from Daniel Gorfine, director of LabCFTC, were directed toward members of the U.S. House Committee on Agriculture which, as reported by CoinDesk, sought testimony on the issue of cryptocurrencies …

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Cryptocurrencies will take center stage once again on Capitol Hill next week. The U.S. House of Representatives Financial Services Committee announced Thursday that it would host a hearing titled “The Future of Money: Digital Currency” on Wednesday, July 18. Though the Committee, headed by Chairman Jeb Hensarling, has yet to announce a full list of …

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Lawmakers in the U.S. House of Representatives have passed a bill that, if signed into law, would approve a study of the use of cryptocurrencies in the sex and drug trades. As CoinDesk reported earlier this month, the bill instructs the director of the Government Accountability Office (GAO) to research “how virtual currencies and online …

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Members of the House of Representatives, the lower chamber of the U.S. Congress, must begin disclosing cryptocurrency investments that exceed $1,000. The guidance was laid out in a June 18 memo drafted by the House Ethics Committee. According to the memo, the committee determined that cryptocurrencies are “other forms of securities for purposes of the EIGA …

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A pair of Congressional subcommittees will continue their fact-finding mission on blockchain during a hearing tomorrow. Tomorrow’s session will be more narrowly focused compared to a similar hearing held by the House Committee on Science, Space and Technology’s Research and Technology and Oversight Subcommittees in February. While that event cast a broad net – covering …

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Lawmakers in the U.S. Congress are set to hold a hearing on blockchain tech’s use in global supply chains next week. Two subcommittees of the U.S. House Committee on Science, Space and Technology – for Research and Technology, and Oversight – will meet on May 8, a newly published notice reveals. The hearing is entitled …

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A U.S. Congressman called for a ban on initial coin offerings (ICOs) during a hearing on Thursday. William Hinman, the director of the Securities and Exchange Commission’s Division of Corporation Finance was speaking before the House Financial Services Committee’s Capital Markets, Securities, and Investment Subcommittee, and had remarked that in regards to cryptocurrencies and ICOs, …

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For the first time the US Congress has dedicated an entire section to cryptocurrencies and Blockchain technology in its annual Joint Economic Report, published March 13. The 2018 Joint Economic Report contains analysis and recommendations for the coming year and dedicates an entire chapter to providing insight into the impact of cryptocurrencies and Blockchain on …

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The Subcommittee on Capital Markets, Securities, and Investment convened Wednesday, March 14, to discuss the future of cryptocurrencies, digital currencies, ICOs, and Blockchain development in the US. Throughout the course of the proceedings, it became clear that the panel of four crypto and Blockchain industry experts was more or less in agreement that further regulatory …

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A new report from Congress that dubbed 2017 “the Year of Cryptocurrencies” calls for lawmakers and industry stakeholders to cooperate on the technology’s use. The 2018 Joint Economic Report – an assessment of the nation’s economic status and recommendations for the upcoming year – notably includes an entire section dedicated to cryptocurrencies and blockchain. This …

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“Congress has a responsibility to ensure that investors are protected without unduly preventing growth.” So said U.S. Rep. Randy Hultgren of Illinois during a Wednesday hearing of the House Capital Markets, Securities and Investment Subcommittee, which met to ask questions on the topic. Drawing a mix of academic and industry witnesses, the hearing highlighted some …

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While lawmakers in the increasing number of statehouses are putting forward legislative initiatives that are nothing short of Blockchain-friendly (think Arizona, Wyoming or Georgia), federal policy architects on the Capitol Hill prefer to move one cautious step by another. The month of February, however, has seen Congress finally take issue at heart and favorably incline …

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A subcommittee of the U.S. House of Representatives Financial Services Committee is set to hold a hearing next week on cryptocurrencies and initial coin offerings (ICOs). A notice posted on the committee’s website states that the Capital Markets, Securities, and Investment Subcommittee hearing – entitled “Examining the Cryptocurrencies and ICO Markets” – is scheduled for …

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As might be expected, Tuesday’s Senate hearing on cryptocurrency regulation touched on an oft-discussed facet of digital assets: their price volatility. Appearing before the Senate Banking Committee, Securities and Exchange Commission chair Jay Clayton and Commodity Futures Trading Commission chair J. Christopher Giancarlo were asked about their views on the zigzagging prices, as well as …

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President Donald Trump has signed a $700 billion military spending bill that includes a mandate for a blockchain cybersecurity research study. As CoinDesk reported in September, the bill – as advanced by the U.S. Senate at the time – called for the Department of Defense to investigate “potential offensive and defensive cyber applications of blockchain technology …

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