Bipartisan bill to give CFTC authority over exchanges and stablecoins
The Digital Commodity Exchange Act would give the commodities regulator the authority to determine rules for cryptocurrency developers and exchanges offering spot trading. A bipartisan group of lawmakers in D.C. introduced an updated bill on April 28 to regulate cryptocurrency developers, dealers, exchanges, and stablecoin providers, bringing them under the regulatory control of the United States Commodity Futures Trading Commission (CFTC).The Digital Commodity Exchange Act of 2022 (DCEA) was re-introduced to Congress by Republican Representatives Glenn Thompson and Tom Emmer with support....
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A provision in the bill gives authority over some cryptocurrencies to the Commodity Futures Trading Commission (CFTC), with the agency head saying it cares about having “rigorous oversight of markets.” United States Securities and Exchange Commission (SEC) Chairman Gary Gensler said he’s worried that a proposed bill to create a regulatory framework for cryptocurrencies could weaken investor protections in the traditional financial market.Speaking at The Wall Street Journal’s CFO Network Summit on June 14 Gensler was asked his thoughts regarding a recent bill introduced on June 7 by....
A new bipartisan bill has been introduced in the Senate that would simplify the use of cryptocurrency for everyday purchases by creating tax exemption for personal crypto transactions under $50 as well as when the capital gains are less than $50.
New ‘Virtual Currency Tax Fairness Act’
A new bipartisan bill, known as the “Virtual Currency Tax Fairness Act,” was introduced in Congress Tuesday by Senators Pat Toomey (R-PA) and Kyrsten Sinema (D-AZ).
According to the announcement by the U.S. Senate Committee on Banking, Housing, and Urban....
The agency says the exchange gave false information in person and in documents in its 2017 bid to be among the first to offer Bitcoin futures contracts. The United States Commodity Futures Trading Commission (CFTC) filed suit against Gemini Trust Co. in the U.S. Southern District Court of New York on Thursday. The CFTC claimed in the civil suit that Gemini made false or misleading statements to the CFTC in 2017 during in-person meetings and in documents, violating the Commodity Exchange Act and other regulations. The agency was making an evaluation of the potential self-certification of a....
The comprehensive new bill sorts out regulators and addresses taxes, environmental impact, security and other major questions surrounding digital assets. The long-awaited Responsible Financial Innovation Act to create a regulatory framework for digital assets was introduced in the United States Senate on Tuesday. The official text of the 69-page document was also released. The bipartisan bill, sponsored by Senators Cynthia Lummis of Wyoming and Kirsten Gillibrand of New York, “addresses CFTC and SEC jurisdiction, stablecoin regulation, banking, tax treatment of digital assets, and....
The bill also calls for the Federal Reserve to be vested with the clear authority to issue a digital dollar. A new bill introduced by United States House Democrat Don Beyer of Virginia has proposed a far-reaching regulatory and legal framework for digital assets across the board.Entitled "The Digital Asset Market Structure and Investor Protection Act of 2021," the bill touches on virtually all the important grey areas that continue to exist regarding cryptocurrencies in the U.S. context. One of its primary goals is to establish statutory definitions for digital assets and digital asset....