A Second Round of the Lummis-Gillibrand Crypto Bill Elevates CFTC, Defines DeFi

The U.S. Securities and Exchange Commission (SEC) would take a back seat in a crypto oversight bill being re-launched by Sens. Cynthia Lummis (R-Wyo.) and Kirsten Gillibrand (D-N.Y.), which would require that crypto exchanges be overseen by the Commodity Futures Trading Commission (CFTC) and all stablecoin issuers be regulated depository institutions.

• 2023-07-12
• Kirsten Gillibrand Cynthia Lummis Senate Banking Committee CFTC U.S. Senate

Previewing Congress's Joint Crypto Regulation Hearing

Over the past several weeks, Congress – particularly the House Financial Services Committee – has held a number of hearings on crypto and its role in the world. Even a hearing supposedly focused on overseeing the U.S. Securities and Exchange Commission instead mostly saw questions on crypto and climate issues. Tomorrow, we’ll see another hearing, held with the House Agriculture Committee, specifically discussing crypto regulation.

• 2023-05-10
• Congress U.S. Securities and Exchange Commission House Agriculture Committee Financial Services Committee crypto regulation Timothy Massad Senate Banking Committee Crypto Exchange

Coinbase, a16z Executives Are Raising Cash for Crypto’s Champion in the Senate

An invitation for an event scheduled for April 28 offers an "exclusive audience" with Sen. Cynthia Lummis. Suggested contributions are from $1,000 to $3,000 per person.

• 2023-04-21
• Cynthia Lummis Coinbase Senate Banking Committee Cory Gardner Crypto Council for Innovation Commodity Futures Trading Commission Coinbase Head

U.S. Senate’s Warren Calls for Crackdown on ‘Sham’ Crypto Audits

Sen. Elizabeth Warren (D-Mass.) and another prominent colleague urged the U.S. auditing watchdog to take action against “sham audits” of crypto companies, citing the contribution of such audits to the recent stresses in the U.S. banking system.

• 2023-03-22
• Sen. Elizabeth Warren Erica Williams PCAOB Ron Wyden Public Company Accounting Oversight Board Senate Finance Committee U.S. Securities and Exchange Commission Senate Banking Committee

Santander, HSBC, Deutsche and Others Still Willing to Serve Crypto Clients After Banking Failures, DCG Says

Major banks are still willing to work with crypto firms though they may implement service restrictions, according to messages viewed by CoinDesk.

• 2023-03-14
• Deutsche Bank Signature Bank Bridge Bank Silicon Valley Bank DCG Bank Leumi Bank of America banking accounts HSBC Senate Banking Committee

Column: The government crackdown on crypto is well underway. Get out while you can

Government agencies are moving to crush crypto as a hive of 'fraud and scams.' Congress should stay out of their way, and investors should take note.

• 2023-02-17
• market manipulation Senate Banking Committee cryptocurrency Federal Reserve FTX Federal Reserve Bank crypto expert banking regulators U.S. Treasury Duke University investor

Crypto Slammed in Senate Hearing

Today's hearing came days after the Securities and Exchange Commission's (SEC) $30 million settlement with Kraken and New York Department of Financial Services' (NYDFS) order that crypto platform Paxos stop minting Binance USD (BUSD), a stablecoin pegged to the value of the U.S. dollar. One reason rule-making for cryptocurrencies has proved challenging: They don't exist within a clear regulatory bucket. Whether cryptocurrencies are securities, and therefore should be regulated by the SEC, is a

• 2023-02-15
• Sherrod Brown Senate Banking Committee digital assets Capitol Hill cryptocurrency Lee Reiners SEC