Fun

News Feed - 2023-10-24 02:10:00

Turner Wright6 hours agoUS Congress remains legislatively paralyzed on crypto bills without a House speakerPieces of legislation aimed at establishing clarity on certain crypto policies are unable to move forward with half of the legislative branch of the U.S. government lacking leadership.3491 Total views15 Total sharesListen to article 0:00NewsJoin us on social networksNo piece of legislation — crypto-related or otherwise — has largely been able to move through the United States Congress since Oct. 3, when lawmakers voted to oust then-Speaker of the House of Representatives Kevin McCarthy. This marks the first time in U.S. history that the legislative body has been without elected leadership, with no definitive plan to fill the slot.


At the time of publication, there are several candidates in the running for the third most powerful role in the U.S. government, but it’s unclear if any of them have enough support from Republican lawmakers — the political party currently holding the majority of seats in the House — to win. Following Speaker McCarthy, Representative Steve Scalise won a majority of Republican votes in a closed-door session, but he later dropped out, leaving the door open for Representative Jim Jordan to attempt a run.


Jordan went through three rounds of voting — losing more support from his Republican colleagues with each round — before the party voted him out as their nominee in a closed-door meeting. This effectively means the speaker’s position is open to anyone, Democrat or Republican, with no clear path forward. All Democrats present for the three rounds voted unanimously for Representative Hakeem Jeffries, the House minority leader.


Patrick McHenry, chair of the House Financial Services Committee and interim speaker following McCarthy’s ousting, may be a candidate for the full-time role. Preoccupied with his duties as temporary Speaker, McHenry could see Representative French Hill step into the role of leading the Financial Services Committee, overseeing legislation on digital assets and otherwise. Tom Emmer, another crypto-friendly lawmaker, said on Oct. 20 that he planned to seek the speaker seat, drumming up support from some of his Republican colleagues — reportedly including McCarthy.1) This week in Congress and crypto: Another week of House Speaker drama and intense focus on Israel/Hamas. For crypto there is a lot of tangental elements on both issues. Many of the speaker candidates have a strong record on crypto so let"s quickly meet them and fights to come.— Ron Hammond (@RonwHammond) October 23, 2023


“If the [Republicans] can’t get a consensus on a clear candidate, it is likely McHenry will remain temp speaker,” said the Blockchain Association’s director of government relations, Ron Hammond, in an Oct. 23 X (formerly Twitter) thread. “[Representative Byron Donalds] is also in the race and he has also been a champion for crypto legislation on a variety of fronts with a particular bent on oversight of the current Admin. [Representative Pete Sessions] is another pro-crypto candidate who has been a champion on issues like bitcoin mining.”


Hammond added:“In the Speaker race there are several pro-crypto candidates. [Tom Emmer] is the frontrunner, but as the past few weeks have shown it is far from a guarantee he will become Speaker.”


Related:Advocacy groups push back against Sen. Warren linking crypto with terrorism


The lack of a speaker effectively halts progress on crypto bills passed by the Financial Services Committee, which had been expected to head for a full floor vote. The Financial Innovation and Technology for the 21st Century Act, the Blockchain Regulatory Certainty Act, the Clarity for Payment Stablecoins Act and the Keep Your Coins Act are all legislatively on hold until a speaker is voted in.


Though the House is “legislatively in a standstill,” according to Hammond, certain lawmakers have still moved forward with pushing anti-crypto policies within their power. More than 100 members of the House and Senate signed their names to a letter calling for action from the White House in addressing the role cryptocurrency may play in financing terrorism. The statement followed Hamas’ attack on Israel on Oct. 7.


Magazine:Opinion: GOP crypto maxis almost as bad as Dems’ ‘anti-crypto army’# Law# Government# Congress# United States# RegulationAdd reactionAdd reactionRead moreSam Bankman-Fried’s trial is telling a story of classic financial deceitIRS proposes unprecedented data-collection on crypto users‘I’m still not seeing it’ — Judges skeptical of Ryder Ripps’ BAYC appeal

News Feed

Ana Paula Pereira2 hours agoCrypto Biz: Binance Connect goes dark, Prime Trust is bust and PayPal unveils Crypto HubThis week"s Crypto Biz explores Binance Connect shutdown, BitGo"s funding round, PayPal Crypto Hub, and
Altcoins Set For $627 Billion Inflow As Altseason Prepares For Takeoff
Este artículo también está disponible en español. After recent robust bullish performances by several altcoins, multiple analysts have tipped the altseason to have begun,
Disney World Economics: How Coronavirus Could Be Used to Justify a Global Financial Reset
Disney World Economics: How Coronavirus Could Be Used to Justify a Global Financial Reset ‘What in the world is going on’ has now become a question of real pertinence
Co-Founder of Russia’s Largest Crypto Pyramid Finiko Arrested in UAE
Co-Founder of Russia’s Largest Crypto Pyramid Finiko Arrested in UAE One of the founders of Russia’s most notorious Ponzi scheme in recent times, Finiko, is in detention in the
Lucas Kiely2 hours agoFutures will be the best crypto game in town even after a Bitcoin spot ETFA spot Bitcoin ETF will bring fresh money to the market, but it will not change a fundamental reality: Bitcoin liquidity is
Ciphertrace Allegedly Builds Monero-Tracing Tools, XMR Proponents Disagree
Ciphertrace Allegedly Builds Monero-Tracing Tools, XMR Proponents DisagreeThe blockchain surveillance firm Ciphertrace claims to have created the “world’s first” m
Savannah Fortis12 hours agoGoogle, OpenAI, Microsoft form ‘Frontier Model Forum’ to regulate AI developmentThe Big Tech giants came together to form the Frontier Model Forum in a joint effort to focus on the “safe
Solana Price Continues Downward Slide — Is A Rebound Possible At $180? 
Este artículo también está disponible en español. Solana (SOL) was one of the large-cap assets affected by the recent market downturn triggered by the US Federal Reserve
Brayden Lindrea4 hours agoBinance, Coinbase and Gemini staff are among the least happy, data suggestsCrypto exchange Binance said its “hardcore” work culture could explain some of the results, while recruiters warn t
Turner Wright3 hours agoSam Bankman-Fried denies knowledge of moving FTX deposits to North Dimension: ReportAssistant U.S. Attorney Danielle Sassoon grilled the former FTX CEO in court on his knowledge of FTX user deposi
Bitcoin Trader Robbed During an In-Person Transaction, Kicked Out of Car in Hong Kong
Bitcoin Trader Robbed During an In-Person Transaction, Kicked Out of Car in Hong Kong An unnamed 37-year-old man was a victim of a theft from a gang of robbers w
Alchemy Pay and Binance Partner to Drive Binance Pay Merchant Integration
Alchemy Pay and Binance Partner to Drive Binance Pay Merchant Integration press release PRESS RELEASE. Singapore, August 3, 2021 –Binance, the world’s