Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $1,070 trillion. Bitcoin is down by nearly 2% after intense seesawing this week. Ethereum increased by almost 2% over the past seven days. XRP lost more than 1% in value this week. Almost all altcoins are trading in the red, with a few exceptions. The DeFi sector decreased the total value of protocols (TVL)…
U.S Senator
Node Operators, Software Developers Sanctionable Under New Bill, Says Crypto Think Tank
Elizabeth Warren – Democratic Senator from Massachusetts – has introduced a new bill titled the ‘‘Digital Asset Sanctions Compliance Enhancement Act of 2022’’ to congress. Co-authored and signed by over 10 other Democrats, the bill proposes far-reaching measures to ensure sanctioned Russian entities don’t use cryptocurrency to bypass trade restrictions. However, a new non-profit crypto policy think tank – Coin Centre – has sounded the alarm on some “unconstitutional” measures within the bill. Targeting “Transaction Facilitators” The bill has been…
11 months ago 1.1 k views
Senator Warren Drafts Bill Targeting Russian Crypto Use for Evading Sanctions
US Senator Elizabeth Warren’s fight against criminal misuse of cryptocurrency presses on. The Democrat is reportedly drafting a bill to prevent sanctioned Russian entities from possibly pivoting to crypto rails for facilitating international trade. A Choice For Exchanges According to NBC News, the bill will threaten secondary sanctions on foreign crypto exchanges that choose to service sanctioned individuals and groups. Should they not comply, they would be refused access to the United States, where one of the most active bases…
11 months ago 950 views
Congressman Re-Attempt Repeal On Brokerage Language In Infrastructure Bill
A small but dedicated alliance of crypto-friendly senators continues against damaging industry language in the Infrastructure bill. Representatives Patrick McHenry and Tim Ryan have signed bipartisan legislation to fix onerous tax reporting requirements on crypto “brokers”. This follows similar efforts from senators Cynthia Lummis and Ron Wyden earlier this week. The Keep Innovation In America Act McHenry unveiled his regulatory amendment in a press release on Thursday. The legislation – titled the “Keep Innovation in America Act” – would slash…
1 year ago 668 views
Rand Paul: Cryptocurrency Could Reach World Reserve Status
Continue reading Rand Paul: Cryptocurrency Could Reach World Reserve Status
1 year ago 782 views
U.S. Senator Roots For Stablecoins’ Transparency and Cash Backing
A vocal Pro-Crypto U.S Senator has called for further developments in the auditing of Stablecoins. Sen. Cynthia Lummis holds that the audit should go beyond the "proof" provided by the leading insurers. Senator said, "cash should fully back Stablecoins". But, again, there's a need to audit that condition regularly to ensure compliance by their providers. Lummis contributed to a Senate discussion on the potential for the U.S to develop. Its central bank digital currency (CBDC). She sounded alarmed over the…
1 year ago 480 views