Senator Chuck Schumer: "Bitcoin Has Significant Potential"
The same man that was seemingly outspoken against Bitcoin back in 2009 is perhaps chaning his mind on just how useful Bitcoin is. His statement in 2011: It's an online form of money laundering used to disguise the source of money, and to disguise who's both selling and buying the drug. Now, the Senator has seemingly changed his stance, posting today on Twitter that "Bitcoin has significant potential." Is the senator looking for Bitcoin donations, now that the FEC says it's permitted?
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Three years ago, New York Senator Chuck Schumer held a press conference to pressure federal law enforcement to crack down on Silk Road, the anonymous online drug market that had only just come to light. The crack down took eventually place in October 2013, and it's evident that it didn't do much good. Only a month after the Silk Road 1.0 bust, a new Silk Road 2.0 launched to replace the original site. Now there are around 30 copycat marketplaces, including Hydra, Pandora, Outlaw Market, Agora, 1776 Market Place, and Evolution, and most of them are doing a decent trade. Agora, now offers....
US Senator Charles Schumer (D-NY) has called for a crackdown on the dark web following reports that illicit marketplaces are thriving even after the government shutdown of Silk Road. In an open letter addressed to Attorney General Eric Holder and published by Schumer's office on 27th October, the senator pledged to both secure additional funding for anti-dark web activities and continue pressing for increased oversight of technologies that facilitate such activities. The letter cited the Tor network and bitcoin as mechanisms used by criminals to help conceal the global drug trade. In a....
President-elect Donald J. Trump’s Sunday Twitter tirade, which called out SNL and the cast of Hamilton, created lots of online blog assignments on that Day of the Lord. One, in particular, might be of concern to Bitcoiners. Mr. Trump is referring to Senator Charles Schumer, who has long been an advocate for law enforcement actions against darknet marketplaces; most famously, perhaps, calling on the closure of Silk Road and inextricably linking it to Bitcoin. After authorities apprehended Ross Ulbricht, ultimately trying him and sentencing him to life in prison, the Senator had to call on....
“While Congress works to better understand and legislate on issues surrounding the development and transaction of cryptocurrencies, it should be wary of imposing burdensome regulations that may stifle innovation,” said Senator Pat Toomey. Lawmakers have written an amendment to an infrastructure bill in the U.S. Senate which proposes excluding certain crypto companies from the reporting requirements for brokers.In an amendment from Oregon Senator Ron Wyden on behalf of himself and Wyoming Senator Cynthia Lummis and with the support of Pennsylvania Senator Pat Toomey, the U.S. lawmakers....
U.S. Senator Sherrod Brown has sent letters to cryptocurrency exchanges and stablecoin issuers, including Coinbase, Gemini, Binance, and Tether, asking how they are protecting consumers and investors. “I have significant concerns with the non-standardized terms applicable to redemption of particular stablecoins,” the senator said.
US Senator Raises Concerns Regarding Stablecoins
U.S. Senator Sherrod Brown (D-Ohio), chair of the U.S. Senate Committee on Banking, Housing, and Urban, announced Tuesday that he has sent letters to a number of crypto exchanges and....