Retiring Sen. Pat Toomey’s stablecoin bill, which seeks to establish significant regulatory guardrails for the crypto industry, hit the Senate floor Wednesday — eight months after the draft proposal w...
Tag: Pat Toomey
Retiring Sen. Toomey introduces new stablecoin bill
Sen. Pat Toomey, R-Pa., introduced a bill that would establish a federal framework for stablecoins and aims to “guide Congress” toward future crypto regulation, less than two weeks before the Republic...
Bankman-Fried ‘unwilling’ to accept subpoena, escalating Senate standoff
Senate lawmakers blasted former FTX CEO Sam Bankman-Fried for declining to appear at a hearing this week, calling his decision an “unprecedented abdication of accountability.” The Senate Banking...
Sam Bankman-Fried ghosts Senate for testimony on FTX collapse
Former FTX CEO Sam Bankman-Fried and his attorney did not respond to the Senate Banking Committee’s demand that he testify or otherwise cooperate with an investigation into his failed corporate ...
Senate Banking Committee calls on Bankman-Fried to testify on Dec. 14
The U.S. Senate Banking Committee wants Sam Bankman-Fried to testify on the collapse of his crypto exchange, FTX and linked trading firm, Alameda Research. “As the Founder and CEO of FTX ...
Congress wants SBF to come to Washington — one more time
Members of Congress want to hear from Sam Bankman-Fried and other crypto executives about FTX’s sudden and complete collapse, including the impact it’s had on customers and the entire digital asset ec...
Senate Banking chair warns crypto could ‘crash our financial system’ following FTX collapse
Senate Banking Committee Chair Sherrod Brown, D-Ohio, is sounding the alarm on crypto following FTX’s collapse. “This year we’ve seen cryptocurrency values collapse by $2 trillion. 2,000 ...
Democrat Fetterman Beats Oz To Flip Key Senate Seat
Topline Lt. Gov. John Fetterman (D) won Pennsylvania’s high-stakes Senate race Tuesday, defeating Republican nominee Mehmet Oz, according to the Associated Press, a significant victory as Democrats fl...
Crypto industry, lawmakers slam Biden administration reports
Cryptocurrency industry groups and Republican lawmakers panned a set of highly anticipated digital asset reports from the Biden administration, saying the new documents “miss the mark” and “kick the c...
The House Stablecoin Bill Should Foster Innovation And Competition, Not Squash Them
House Financial Services Committee Chairwoman Maxine Waters, of Calif., right, speaks as ranking … [+] member Rep. Patrick McHenry, R-N.C., listens during a hearing of the House Financial Servic...
Senator claims the FDIC is stonewalling banks that try to work with crypto
Senator Pat Toomey, R. PA, is calling the Federal Deposit Insurance Corporation to account for its work in crypto. In an August 17 letter to FDIC acting chairman Martin Gruenberg, Toomey says the age...
A new Senate bill would bill exempt small crypto from capital gains taxes
A new bill that would exempt small crypto transactions from capital gains taxes has entered the Senate. According to an announcement shared with The Block, Senators Pat Toomey and Kyrsten Sinema have ...
Panic-Driven Crypto & Stablecoin Regulation Would Create Further Instability
In reaction to the volatile events of the last few weeks, both the stock and cryptocurrency markets have taken a deep dive. While this downturn is distressing to many, it has emboldened progressive po...