Bitcoin Mining Nationalized? US Senators Float Bold New Reserve-Backed Bill
About 97% of the machines used to mine Bitcoin currently come from companies based in China. This heavy reliance on foreign technology has created a bottleneck at American ports and raised alarms about the long-term security of the network. Related Reading: Bitcoin ETFs Pull In $56B As CEO Pitches Crypto Over Gold To fix this, US Senators Bill Cassidy and Cynthia Lummis introduced the Mined in America Act. The bill aims to move the production of specialized computer chips and mining rigs onto American soil. Cleaning Up The Mining Supply Chain The proposed law creates a special “Mined....
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Two U.S. senators have introduced a bipartisan bill aimed at improving the oversight of cryptocurrency. The bill requires the Treasury Secretary to submit a report to Congress on cryptocurrencies and their competitiveness globally, including how other countries are using and mining them as well as their impacts on supply chains.
New Bill Introduced to Improve Oversight of Cryptocurrencies and Their Uses Globally
Senator Maggie Hassan, a member of the Senate Homeland Security and Governmental Affairs Committee, and Senator Joni Ernst introduced legislation on cryptocurrency....
A bipartisan team of US senators is introducing a bill to clarify what entities should report cryptocurrency transactions to the IRS.
Republican Senators Cynthia Lummis and Bill Cassidy on Monday unveiled the Mined in America Act, a proposal designed to bolster domestic crypto mining while formalizing the federal government’s growing interest in Bitcoin (BTC). The bill would create a voluntary certification program to encourage US-based development of crypto mining operations and related infrastructure, require certified sites […]
The North Carolina Senate Commerce Committee has agreed to support a House Bill drafted by North Carolina's banking commissioner regarding money transmission. The bill, titled "AN ACT TO ENACT THE NORTH CAROLINA MONEY TRANSMITTERS ACT AS 3 REQUESTED BY THE OFFICE OF THE NORTH CAROLINA COMMISSIONER OF 4 BANKS," states that money transmission includes maintaining control of virtual currency on behalf of others, and that the "online-only money" [bitcoin] is converted to cash using digital currency exchanges and the holder keeps it stored online. The bill passed the House back in May and is in....
New York senators have amended a proposal to ban all crypto mining for three years, and are now seeking to only stop mining firms backed by carbon-based fuel sources. A proposed crypto mining ban calling for a forced three-year hiatus on all mining operations in New York has been watered down — and will now allow green projects. The bill passed in the senate on June 8, and has now been referred to the state assembly. If the bill is passed in the assembly, it will be delivered to Governor Andrew Cuomo to either approve or veto the proposed legislation. The initial New York Senate Bill 6486A....