Tag: US Congress

US Congressman: Facebook’s Libra will be Regulated as a Security
Blockchain

US Congressman: Facebook’s Libra will be Regulated as a Security

During a recent podcast, United States Congressman Warren Davidson (R-OH) shared his thoughts on Facebook’s developing stablecoin, Libra. Ultimately, Davidson says Libra should be regulated as a security, but he also claimed Facebook would be better off with Bitcoin altogether. Will Facebook’s Stablecoin Libra be Regulated as a Security? Congressman Davidson is one of the…

US Congressman Calls For Ban on Cryptocurrencies, Says Their Sole Aim is to Hinder “the United States and the Rule of Law”
Blockchain, Opinions

US Congressman Calls For Ban on Cryptocurrencies, Says Their Sole Aim is to Hinder “the United States and the Rule of Law”

A video dated May 9th 2019 features United States Congressman Brad Sherman (D-CA) discussing the introduction of a bill which would ban all cryptocurrency purchases for American citizens. Rep. Sherman claims those who advocate for cryptocurrency solely seek to disempower the United States government. Rep. Brad Sherman Wanting to Ban Cryptocurrency Explained Representative Brad Sherman…

U.S. Bank CEOs Get Grilled by Congress on Blockchain Technology
Blockchain, Business

U.S. Bank CEOs Get Grilled by Congress on Blockchain Technology

For the first time since the financial crisis in 2008, CEOs from America’s largest banks testified before the House Financial Services Committee of the United States Congress. In particular, Representative Warren Davidson (R-OH) inquired as to the banks’ current thoughts on the integration of blockchain and finance. Largest U.S. Bank CEOs Testify Before Congress Rep….

US Congressman Reintroduces Token Taxonomy Act to Exempt Utility Tokens from Securities Laws and Propose New Tax Structure
Blockchain, Business

US Congressman Reintroduces Token Taxonomy Act to Exempt Utility Tokens from Securities Laws and Propose New Tax Structure

As of April 9th 2019, U.S. Congressman Warren Davidson (R-OH) has submitted the Token Taxonomy Act of 2019 (H.R. 2144) to propose an amendment of the Securities Act of 1933. The change would establish the ‘digital token’ as a new digital asset class, thereby exempting such tokens from securities laws and subsequently proposing a new…

US Congressman to Federal Reserve Chairman Jay Powell: Cryptocurrencies will “Foster Innovation” in the U.S.
Blockchain, Opinions

US Congressman to Federal Reserve Chairman Jay Powell: Cryptocurrencies will “Foster Innovation” in the U.S.

Earlier this week, the US House Financial Services Committee and Federal Reserve Chairman Jay Powell met in Washington, DC. The hearing featured typical queries involving monetary policy, interest rates, and economic growth— with plenty of discussion concerning cryptocurrency and digital asset regulation. The US Federal Reserve’s Thoughts on Cryptocurrency Regulation A common debate concerning digital…

US Lawmakers to SEC Chairman Jay Clayton: Clarify Securities Token Classification
Blockchain, Business

US Lawmakers to SEC Chairman Jay Clayton: Clarify Securities Token Classification

In a letter dated September 28th, the Congress of the United States requested precise clarification concerning the designation of securities in the cryptocurrency space. The inquiry recognized the difference between digital tokens and securities, where the confusion of such has the potential to disrupt American innovation in both the financial and technology sectors. Uncertainty Surrounding…