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The incoming United States House Financial Services Committee chair Patrick McHenry wants the Treasury to delay the implementation of a section of the Infrastructure Investment and Jobs Act that deals with digital assets and tax collection.McHenry sent a letter on Dec. 14 to U.S. Treasury Secretary Janet Yellen with questions
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Rep. Patrick McHenry, the soon-to-be chair of the House Financial Services Committee, wrote a public letter to Treasury Secretary Janet Yellen asking her to delay the implementation of the tax provision in last year's infrastructure law. Source
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White House press secretary, Karine Jean-Pierre, declined to answer questions from a reporter on whether United States president Joe Biden will return the $5.2 million in campaign donations previously given by FTX founder Sam Bankman-Fried.“Will the president return that donation?” Associated Press reporter Zeke Miller asked in a Dec. 13
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John Ray III, who assumed leadership of the company last month hours before it filed for bankruptcy protection, will tell the House Financial Services Committee that his new team has so far secured over $1 billion in digital assets, though that's only a small portion of the billions the company
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Welcome to Law Decoded, your weekly digest of all the major developments in the field of regulation.So, Sam Bankman-Fried, public enemy number one, won’t appear in front of Senators on Dec. 14, as he missed the deadline for responding to a Senate Banking Committee request. However, we could witness the
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Bankman-Fried said his contribution would be limited, as he says he still does not have access to the personal and professional data that could underpin testimony. He resigned on Nov. 11, the day the company filed for bankruptcy after revelations published in CryptoX concerning FTX's relationship to sister company Alameda
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A hearing on what happened to FTX is scheduled to take place on Tuesday. Source
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The investigators, noting Cawthorn’s waning time as a member of Congress, said they couldn’t agree on a sanction and suggested the admonishment of the report would be sufficient. The committee directed Cawthorn to give $14,237 to a charity because that’s how much more expensive his token purchase should have been
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Maxine Waters, chair of the United States House Financial Services Committee, has called out former FTX CEO Sam Bankman-Fried for announcing on social media he intended to testify after “learning and reviewing what happened” at the exchange.In a Dec. 5 Twitter thread, Waters cited Bankman-Fried’s numerous media interviews in the
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“[The subcommittee] is seeking detailed information on the significant liquidity issues faced by FTX, the company’s abrupt decision to declare bankruptcy, and the potential impact of these actions on customers who used your exchange,” Krishnamoorthi continued. Source
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