US Congress Will Not Pass Cryptocurrency Legislation Anytime Soon, Says Lawmaker

U.S. Congressman Jim Himes says that Congress is not ready to pass cryptocurrency legislation anytime soon, citing a lack of deep understanding of cryptocurrencies among lawmakers. Congress Won’t Pass Crypto Legislation Anytime Soon In an interview with Yahoo Finance on Friday, U.S. Representative Jim Himes revealed some of the debates going on in Congress about […]

The U.S. Securities and Exchange Commission (SEC) has urged Congress to pass cryptocurrency legislation to protect investors, the new SEC chairman has revealed. The securities regulator is also working with the Commodity Futures Trading Commission (CFTC) and the U.S. Treasury Department to combat criminal activity facilitated by cryptocurrencies, the chairman noted. SEC Working With CFTC, Treasury on Crypto Regulation, Urges Congress to Pass Legislation The new chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has asked Congress to take action regarding....

Switzerland’s largest bank, UBS, expects the United States Congress to take a long time to pass cryptocurrency legislation despite mounting interest in crypto investments and regulators calling for Congress to weigh in on crypto legislation. Congress Could Take a Long Time on Crypto Legislation The largest bank in Switzerland, UBS, published its view on U.S. crypto legislation Friday after the House of Financial Services Committee held a lengthy hearing on the regulation of cryptocurrencies and stablecoins last week. The Swiss bank’s U.S. Office of....

The U.S. Financial Stability Oversight Council (FSOC), a group of the country’s top financial regulators, has urged Congress to pass legislation for the regulation of crypto assets. Treasury Secretary Janet Yellen said: “Crypto-asset activities could pose risks to U.S. financial stability if their interconnections with the traditional financial system or their overall scale were to grow without adherence to or being paired with appropriate regulation, including enforcement of the existing regulatory structure.” U.S. Financial Stability Oversight Council’s....

The chairman of India’s Parliamentary Standing Committee on Finance explains that cryptocurrency legislation in India will be “distinct and unique.” He added, “We have to balance stability and growth but we recognize how important this whole area of crypto is.” Lawmaker Provides an Update on Crypto Legislation Jayant Sinha, a lawmaker of the ruling Bharatiya Janata Party, talked about India’s cryptocurrency legislation Wednesday at an event organized by the Blockchain and Crypto Assets Council (BACC) of Internet and Mobile Association of....