US senator Toomey introduces stablecoin bill as congressional session wraps up
Republican Senator Pat Toomey, who is set to retire from U.S. Congress at the end of the term, has used one of his last few weeks in office to introduce a new stablecoin bill, aimed at creating a regulatory framework for “payment stablecoins.” Toomey — who also serves as the Ranking Member of the U.S. […]
Senator pressures OCC nominee over missing Marxism thesis from Moscow Uni
Pat Toomey, a Republican member of the U.S. Senate Banking Committee, is attempting to pressure the nominee to head the Office of the Comptroller of the Currency (OCC) into handing over her 1989 university honors thesis about Karl Marx. The Biden administration formally nominated Kazakh-born attorney Saule Omarova — who has been characterized by critics […]
Unchanged crypto tax bill will be put to a vote on Tuesday
The provisions aim to raise $28 billion for infrastructure funding through expanded digital asset taxation, and will impose broad third-party reporting requirements on any crypto firm deemed to comprise a “broker.” On August 9, general counsel to Compound Finance, Jake Chervinsky, tweeted that the Senate had voted 68 in favor to 29 against ending debate […]
BREAKING: White House reportedly supports only minor changes to crypto tax proposal
The crypto community is pushing back against amendments to the crypto provisions of the White House’s infrastructure plan — which seeks to raise $28 billion for infrastructure funding through expanded taxation on crypto transactions and impose new reporting requirements for crypto “brokers.” On August 6, Senators Mark Warner and Rob Portman proposed a “last-minute amendment” […]