US Congressman Shows Openness To Accepting A Crypto Salary

Yet another public figure is interested in being paid with cryptocurrency, as opposed to fiat money. This time, it's Tom Emmer – the Republican representative for Minnesota’s 6th congressional district. Should he follow through, Emmer would be the first US national politician to experiment with a crypto-based salary. ‘Why Not?’ Says Emmer Emmer expressed openness to the idea in an interview with Bitcoin podcaster Anthony Pompliano on Monday. Pompliano mentioned the growing popularity of Strike’s “Pay Me In Bitcoin” service,…

US Congressional Candidates Sell NFTs To Finance Campaigns

Celebrities and athletes aren’t the only ones aping into the NFT game. Digital assets are now part of political strategy. Two US congressional candidates have taken to selling NFTs to raise funds for their midterm election campaigns. The campaigners using this strategy cross party lines, though positive attitudes towards crypto among current congresspeople do not. Selling NFTs Like MAGA Hats As reported by Bloomberg, the strategy is currently being used by California Democrat Shrina Kurani, and Arizona Republican Blake Masters.…

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…

Ted Cruz Pushes for Capitol Hill Vendors to Accept Cryptocurrency

Ted Cruz – Republican Senator and Representative of Texas – wants to impose an El Salvador-esque mandate on Capitol Hill. He has put forward a brand new legislative proposal that would require all of its vendors to accept crypto payments. Also, Cruz has proven extremely supportive of cryptocurrencies before. And, his proposal could help other politicians become more familiar with the technology. Ted Cruz’s Proposal Two days ago, the Senator submitted the ‘‘Adopting Cryptocurrency in Congress as an Exchange of…

US Congressman Introduces Bill to Fight COVID-19 with Strategic National Stockpile

A bill to fight coronavirus has been introduced by the United States Congressman Stephen Lynch of Massachusetts. It is towards the establishment of a blockchain network that is able to oversee the distribution of personal protection equipment (PPE), ventilators as well as other essential medical equipment during the ongoing pandemic. The National Emergency Biodefense Network was established for the regulation of the supply of drugs, vaccines, medical devices, as well as other supplies. The bill called the “Strategic National Stockpile [SNS] Enhancement and…

Draft of Coronavirus Bill Suggests Issuance of the Digital Dollar in The US

As the markets continue to shift negatively, the US looks to Congress for agreement on a significant stimulus package to rescue the economy from impacts of the coronavirus pandemic. The Democrats in the US house want to create a ‘digital dollar’ and the establishment of ‘digital dollar wallets according to a proposed draft stimulus bill, which has been circulating ahead of formal publishing. The digital wallets would be maintained by the Federal Reserve Bank. The new proposals will facilitate payments…

US Congress Plans to Hold A Hearing for Digital Currencies

Recently the US Congress scheduled a new sitting on hearing about digital currencies. This hearing will majorly focus on the local and global ways to approach digital currencies. This meeting will be taking place on March 24.  The host of the hearing will be the House committees that focus on Financial Services, with the specific subcommittee tasked for that being the subcommittee on National security, international development, and monetary policy.   This is not the first hearing of the kind; several…

Encryption May Face Prohibition Due to Human Traffickers Dependence on It in The US

Recently, there is a rise in women and children trafficking in the United States. However, critical observation of human trafficking is currently ongoing. The US lawmakers, and the Department of Justice under the Attorney General William Barr, are considering the prohibition of cryptography. Barr is against end-to-end encryption and believes human traffickers highly depend on digital communication and the internet, and these perpetrators should get detected and addressed. Barr also pointed out that digital proof is undergoing encryption and that…

Two Proposed Crypto Laws by U.S. Congress

Following laws and amendments made by the United States regarding bill preparation on stablecoins, concerns related to various technologies and firms interested in cryptocurrency creation are raised.  The House committee drafted legislation proposed on 15th of July 2019, focuses on Libra by Facebook, and primarily restricts these large technology firms from operating practices similar to financial institutions. The large technology firms implied in the draft legislation are majorly the online platform service providers who are minimum annual revenue earnings approximate…