Fun

News Feed - 2023-07-28 01:07:00

Turner Wright8 hours agoRep. Patrick McHenry blames White House for lack of urgency on stablecoin bill negotiationsRepublican leadership has blamed the Biden administration for not having a “sense of urgency” on stablecoins, while the Democratic response suggested “impatience” by lawmakers.3442 Total views6 Total sharesListen to article 0:00NewsJoin us on social networksUnited States House Financial Services Committee Chair Patrick McHenry has pointed a finger at the Biden administration for the lack of bipartisan agreement on a stablecoin bill.


In a July 27 hearing, Representative McHenry said the version of the Clarity for Payment Stablecoins Act, H.R. 4766, being considered for markup was not based on negotiations between himself and ranking member Maxine Waters. He added that though the committee was “closer than [they]’ve ever been” on a bipartisan solution, the White House did not “share that same sense of urgency” as lawmakers.


“A few small, but nonetheless important, provisions stood between us and a deal,” said McHenry. “It was the White House’s unwillingness to compromise that has once again brought that negotiation to a halt.”


The stablecoin bill was one of many pieces of crypto-related legislation in the House committee. On July 26, lawmakers moved two key bills through that were aimed at providing regulatory clarity to crypto firms: the Financial Innovation and Technology for the 21st Century Act and the Blockchain Regulatory Certainty Act.


Related:Crypto community responds to US Democrats backing SEC’s crypto authority


Representative Waters placed the blame for the lack of bipartisan agreement on the stablecoin bill on the “impatience of Republican leadership,” claiming the legislation was “a race to the bottom” with limited oversight over licensing and potential conflicts between approaches by U.S. state regulators and those at the federal level.


“Important legislation takes time,” said Waters. “The chair is impatient and has decidedly to abruptly end our negotiations and move forward with the bill that is deeply problematic. [...] Under this framework, Amazon, Walmart, Facebook can create their own stablecoins or even be affiliated with a stablecoin issuer.”“The Fed do not support the bill, Treasury does not support the bill, and we don’t have the support of those who asked us to get involved with a stablecoin bill to begin with.”


At the time of publication, it was unclear whether H.R. 4766 had the votes for passage through the committee. Lawmakers are also expected to discuss the Keep Your Coins Act introduced by Representative Warren Davidson, a bill aimed at preventing U.S. government agencies from exercising certain authority over individuals’ self-custodied crypto wallets.


Magazine:Opinion: GOP crypto maxis almost as bad as Dems’ ‘anti-crypto army’# Law# Congress# United States# Stablecoin# RegulationAdd reactionAdd reactionRelated NewsHow to actually spend your Bitcoin, ExplainedUS law protects institutions and exposes retail investors — Rep. TorresExistential threat? Why some banks are anxious about CBDCsCircle CEO spells doom scenario for US dollar in warning to CongressEOS Foundation to sue Block​.one for alleged failure to honor $1B commitmentUS lawmakers invoke FTX and spar on direction of crypto bills

News Feed

IMF Warns Russia Sanctions Threaten to Undermine US Dollar Dominance
IMF Warns Russia Sanctions Threaten to Undermine US Dollar Dominance Financial sanctions imposed on Russia over its invasion of Ukraine may result in reduced dominance of the U.S.
Blackrock Warns of Unprecedented Recession for 2023, Bull Markets Not Returning
Blackrock Warns of Unprecedented Recession for 2023, Bull Markets Not Returning Blackrock, one of the largest asset management companies in the world, has warned that 2023 will be
Cashing Out Bitcoin Using ATMs: Popular Youtuber Successfully Turns $16K in BTC Into Cash
Cashing Out Bitcoin Using ATMs: Popular Youtuber Successfully Turns $16K in BTC Into Cash On January 23, 2021, the popular Youtuber Mambafx published a video of
Nitin Kumar20 hours agoWeb3’s revolution: Why the digital wallet is the new marketing goldThe cookie-less internet presents an opportunity, not a risk. It has the ability to redefine and strengthen the connection and t
Amaka Nwaokocha14 hours agoAI proposal sparks conflict in Hollywood as SAG-AFTRA goes on strikeThe AI proposal suggested that background performers should undergo scanning, receive payment for a single day, and grant com
How Binance NFT Is Building the No․1 Gaming Metaverse
How Binance NFT Is Building the No․1 Gaming Metaverse sponsored Video games, the Metaverse and NFTs. Binance NFT has become the largest centralized gaming NFT marketplace. See wha
US Regulator Sues Crypto Hedge Fund Founder — $25 Million in Digital Assets to Be Frozen
US Regulator Sues Crypto Hedge Fund Founder — $25 Million in Digital Assets to Be Frozen The U.S. Securities and Exchange Commission has filed a lawsuit agains
Irish Banks Hail EU’s ‘Radical’ Anti-Money Laundering Push
Irish Banks Hail EU’s ‘Radical’ Anti-Money Laundering Push Banks in Ireland have welcomed an upcoming reform of the European Union’s anti-money laund
Crypto Prices Show Signs of Recovery, Market Analyst Says ‘Bitcoin Remains in a Healthy Place’
Crypto Prices Show Signs of Recovery, Market Analyst Says "Bitcoin Remains in a Healthy Place" Bitcoin and a number of other cryptocurrencies have regained some
Expert warns Hackers are Targeting Russian Government’s IT Infrastructure to Mine Cryptocurrencies
Expert warns Hackers are Targeting Russian Government"s IT Infrastructure to Mine Cryptocurrencies A state-affiliate cybersecurity expert warned about hackers ex
Get Your Game On: Unbeatable Welcome Offer for New Players on BitSpinCasino
Get Your Game On: Unbeatable Welcome Offer for New Players on BitSpinCasino Step into the Cosmic World of Gaming with BitspinCasino’s Welcome Offer of up to 3 BTC. A Cosmic
Spot Crypto ETFs: Litecoin Likely Next In Line For SEC Nod
Este artículo también está disponible en español. As rumors of the possible approval of Litecoin ETF widely spread, LTC price jumped by 18% over 24 hours to $118. Launche