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On Wednesday, Tom Emmer, the U.S. Republican congressman from Minnesota, revealed he sent a letter to Martin Gruenberg, the chairman of the Federal Deposit Insurance Corporation (FDIC), regarding reports that the FDIC is “weaponizing recent instability” in the U.S. banking industry to “purge legal crypto activity” from the United States.
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A crackdown on digital assets companies is reminiscent of “choke point” targeting of gun sales, Fed Governor Jerome Powell was told. Source
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One of the top Republican lawmakers, Rep. Tom Emmer (R-Minn.), is campaigning to stop what he argues is the intent of President Joe Biden’s administration to set up a digital dollar that could be deployed to collect information about citizens’ financial lives. Source
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“Split control of the federal government could bode well for future crypto policy and regulation,” said Kristin Smith, executive director of the Blockchain Association in Washington. “In the current Congress, there is growing bipartisan collaboration on major legislation, and we would expect that trend to continue, and likely accelerate, if
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A group of Republican lawmakers on the House Financial Services Committee have asked U.S. Attorney General Merrick Garland to share the Justice Department's assessment on whether the Federal Reserve has the necessary authority to issue a central bank digital currency (CBDC). Source
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North Carolina Representative Patrick McHenry may have used his virtual appearance at a cryptocurrency conference as a soapbox for calling for votes in the 2022 United States midterm elections.In a prerecorded message for the attendees of the Converge22 conference in San Francisco on Sept. 29, McHenry suggested that the goal
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In Custodia’s complaint, lawyers for the Wyoming-based bank argued that a master account was “vital to Custodia’s ability to operate effectively and efficiently,” and that the Fed’s continued waffling on the decision was detrimental to Custodia’s customers – and, furthermore, indicated a “black box bureaucratic process with no clear rules”
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The top Republican on the U.S. Senate Banking Committee, Sen. Pat Toomey (R-Pa.), said he’s dealing with Democrats to make his earlier proposal on stablecoin oversight a bipartisan effort, and Chairman Sherrod Brown (D-Ohio) confirmed he’s been involved in the discussion. Original Source
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JD Vance has won the Ohio Republican Senate primary election, making him the GOP’s candidate in the highly anticipated Senate race against Democrat Tim Ryan in which both parties are trotting out crypto-friendly candidates.The Guardian reported that Vance may have been pushed to victory on Tuesday by a last-minute endorsement
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FTX Co-CEO Donates $4M to Republican PAC Ahead of Midterm Elections Original Source
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