Crypto Legislation Passes House Committee: What’s Next?

• The House Financial Services Committee passed a suite of crypto legislation this week.
• Sam Bankman-Fried surrendered Caroline Ellison’s personal writings to court.
• SEC Commissioner Hester Peirce called watchdog’s public accounting warning into question.

House Financial Services Committee Passes Crypto Legislation

The House Financial Services Committee has passed a suite of crypto legislation this week in one of the most concerted efforts to pass federal crypto legislation to date. This Republican-sponsored package will now proceed to a full vote in the House; however, there is opposition from Democrats on the committee such as Representative Maxine Waters who said that “this bill heeds the calls from the crypto industry while disregarding the views of the administration, the Securities and Exchange Commission, and consumer and investor advocates.” The effects of this bill are yet unknown but it is likely to have an impact on digital asset regulation in America.

Sam Bankman-Fried Surrenders Caroline Ellison’s Writings

In related news, Sam Bankman-Fried has surrendered Caroline Ellison’s personal writings to court. Ellison is a prominent figure in cryptocurrency circles and her writings are highly sought after by many parties for their personal or professional interests. By surrendering these writings, Bankman-Fried is showing his commitment to protecting Ellisons‘ rights and privacy even though she herself was not present for any legal proceedings.

Democratic Congressman Ritchie Torres Calls Gensler’s SEC ‚Arbitrary and Capricious‘

Democratic congressman Ritchie Torres has criticized Gensler’s SEC as „arbitrary and capricious“. According to Torres, this kind of regulatory environment can be damaging for innovation and entrepreneurship within the cryptocurrency space, as it stifles creativity and progress due to its lack of clarity when it comes to rules surrounding digital assets. He further went on to talk about how this kind of approach can create confusion among businesses that want to enter into this sector but are uncertain about what regulations they must comply with in order for them do so legally.

Jason Lowrey’s Book Removed From Circulation And MIT Library

Jason Lowrey’s book on the strategic significance of Bitcoin was recently removed from circulation and MIT library for unknown reasons. This book had been praised by many industry leaders including Balaji Srinivasan who commented “This book should be read by anyone interested in understanding why Bitcoin matters.“ While no reason was given for its removal from circulation, some speculate that it could be due to legal issues surrounding its content or because it was perceived as too controversial by certain parties within academia or government regulators.

SEC Commissioner Hester Peirce Calls Watchdog’s Public Accounting Warning Into Question

Lastly, SEC commissioner Hester Peirce has called into question watchdog’s public accounting warning which states that cryptocurrencies must be reported publicly if held by an investor or company for more than 180 days without being sold or exchanged in some other way before then. Peirce believes that such requirements are too stringent and could discourage companies from investing in digital assets altogether; she also argued that these requirements don’t take into account market volatility which can make it difficult for investors or companies holding digital assets over long periods time without selling them off prematurely out of fear prices may drop suddenly during their holding period thus incurring losses instead of profits .

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