House Democrat Leaders Won’t Whip Against Two Pro-Crypto Bills

The Consumer Safety Technology Act passed quickly in the House, and if enacted would require the study of blockchain tech and digital tokens. A bipartisan bill that requires the study of blockchain technology and digital tokens passed the House of Representatives on June 22. The “Consumer Safety Technology Act'' is centered on consumer protection and includes digital token and blockchain research. The bill passed the 117th Congress within a week of its introduction, with a resounding 325 votes in favor of, and 103 votes against. This is not the first time this bill has reached this point....

The digital divide between those for and against cryptocurrencies is widening among U.S. policymakers. The Biden Administration has just passed an executive order furthering research into crypto assets in view of regulating them, but politicians within the ruling Democrat party remain deeply divided on digital currency.The lack of consensus among Democrats could mean that a progressive regulatory framework for cryptocurrencies could still be a long way off —but also makes it more likely the eventual regulations won’t be too harsh thanks to the work of crypto-friendly representatives. The....

"We’ve got to move, pick a regulator, and give the market the certainty and guardrails it deserves," said House Representative Josh Gottheimer. New Jersey Representative Josh Gottheimer said that United States lawmakers needed to pass legislation clarifying regulators’ role over crypto or risk companies taking their business abroad.Following a roundtable discussion on Sept. 27 with Commodity Futures Trading Commission chair Rostin Behnam and many industry leaders, Gottheimer said some of the crypto bills proposed by members of the U.S. House of Representatives and Senate were “building....

Earlier this week, Congresswoman Maxine Waters announced that Congress had formed a new working group that would focus on cryptocurrency and fintech policy. Called the Blockchain Caucus or Fintech Task Force, the House Democrat group will feature 12 members of the House Financial Services Committee.  I applaud Chairwoman Waters' decision to elevate the attention given […]

Bills from the Energy and Commerce Committee are making their way to the Senate following votes this afternoon. The updated Consumer Safety Technology Act, which now includes the Digital Taxonomy Act and the Blockchain Innovation Act, has passed in the House of Representatives and is now headed for the Senate as of Tuesday afternoon.The Digital Taxonomy Act provides definitions for the terms "digital asset" and "digital unit" and would task the Federal Trade Commission with preventing unfair trade practices in both. The Blockchain Innovation Act would require the FTC to put together a....