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Crypto industry advocacy bodies have slammed a newly proposed United States Senate bill for what they say is a confused approach to regulating the decentralized finance (DeFi) sector.On July 20, crypto think tank Coin Center and crypto advocacy group the Blockchain Association released separate statements describing the legislation as a
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United States Senator Jack Reed sponsored a bipartisan bill introduced into the Senate on July 18 that would tighten Know Your Customer and Anti-Money Laundering (KYC/AML) and sanctions requirements for decentralized finance (DeFi). According to a news release on Reed’s website, the bill is titled the Crypto-Asset National Security Enhancement
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A new bill from Sen. Jack Reed would impose strict requirements on DeFi protocols under the guise of national security. Source
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Regardless of its chances of becoming law, this bill should likely generate some discussion. If you have any thoughts the various provisions – whether you think something needs clarity, is unnecessary, will help the industry immensely, etc. – reply to this email and you may see your comment in next
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"In recent months, the Committee on Finance initiated a bipartisan effort to identify key questions that lie at the intersection of digital assets and tax law," the letter said. "The Internal Revenue Code of 1986, as amended (IRC), draws distinctions between types of property, with no straightforward classification for digital
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United States Senate Financial Services Committee Chair Ron Wyden and ranking member Mike Crapo released an open letter to the digital asset community on July 11 asking for input on the taxation of digital assets. The senators are looking for solutions to highly complex taxation issues, so much so that
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The U.S. Senate is working on a draft bill shifting digital assets initially classified as securities to be regulated as commodities. The proposed legislation presents a pathway for the regulation of digital assets, providing clarity and consistency
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The Senate has sent an approved bill to President Biden, allowing the government to borrow without a debt ceiling for nearly 2 years. The Senate has officially passed a bill that raises the US debt ceiling only a few days before an official debt default. Members of the Senate approved the
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Sam Altman, the CEO of OpenAI and co-founder of Worldcoin, recently testified before Congress alongside IBM’s chief of trust, Christina Montgomery, and NYU professor Gary Marcus. The Senate judiciary subcommittee session represented Altman’s first official appearance before Congress, giving senators the opportunity to question the OpenAI CEO concerning his company’s views
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Last week, OpenAI CEO attended a meeting of the White House that was devoted to the regulation of AI. And according to Altman, White House representatives and OpenAI executives are “on the same page” in their vision. OpenAI CEO Sam Altman is preparing to testify in US Senate next week, which will
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