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“It doesn't involve any account, which means that you can use it peer-to-peer directly. You can use it offline and because there's no third party, there's no loss of privacy expectation that comes with the third party doctrine,” Rohan Grey, who advised on the bill, told me. Source
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This real-world situation, coupled with the executive order, is a powerful opportunity for industry to demonstrate to policymakers how crypto can be used for good. The revolutionary payment system, with a public and traceable ledger, has the potential to change the way we send, store and receive money, especially during
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“AMLA shall set up and maintain an indicative and non-exhaustive public register of shell banks and non-compliant crypto-asset service providers operating within and outside the Union based on information provided by competent authorities, supervisors, the Commission or obliged entities,” the draft said. These measures are needed given the high risk
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The electronic dollar, as defined in the bill, would be a bearer instrument that people could hold on their phone or a card. The system would be token-based, not account-based, meaning if someone were to lose their phone or card, they would lose the funds. In other words, it'd be
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The European Parliament also wants to curb payments to tax havens and check people’s identity even for payments between unhosted wallets, internal papers reveal. Source
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A tax framework on cryptocurrencies introduced by India’s Finance Minister Nirmala Sitharaman will become law in the country after being passed as an amendment to the Finance Bill.On Friday, India’s lower house of parliament, the Lok Sabha, passed the 2022 Finance Bill, which included 39 amendments proposed by Sitharaman. The
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El Salvador President Nayib Bukele had a busy Wednesday evening on Twitter, first responding to a report that Binance was called in to to salvage his country’s Bitcoin bond sale, and also showing his displeasure with legislation making its way through the U.S. Senate. Source
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Eight U.S. lawmakers have sent a letter to the chairman of the U.S. Securities and Exchange Commission (SEC) regarding how the agency collects information from crypto companies. According to the crypto community, the SEC’s “requests” for information “are overburdensome, don’t feel particularly voluntary, and are stifling innovation.” US Lawmakers Want Answers
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Representative Brad Sherman will be introducing a bill in the House aimed at cracking down on U.S. businesses handling crypto transactions for Russian banks and individuals.Speaking at a hybrid markup meeting with the House Financial Services Committee on Thursday, Sherman said he will be introducing a companion bill to Senator
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Industry experts and lawmakers who spoke at a hearing of the United States Senate Committee on Banking, Housing, and Urban Affairs clashed on how the country should handle digital assets used for illicit purposes.Speaking remotely in a Thursday hearing on “Understanding the Role of Digital Assets in Illicit Finance,” Michael
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