Virginia’s Democratic representative Don Beyer has ushered in a fresh bill mandating the documentation of off-chain transactions and over-the-counter (OTC) crypto engagements by cryptocurrency exchanges, to be catalogued in a repository under the purview of the U.S. Commodity Futures Trading Commission. New Legislation Targets Off-Chain Transfers in Crypto Industry Representative Don Beyer (D-VA), has unveiled […]
Representative Patrick McHenry, chairman of the House Financial Services Committee, weighed in positively on the launch of PYUSD, a dollar-pegged stablecoin issued by Paypal, a U.S.-based payments company. McHenry stated that if properly regulated, stablecoins “hold promise as a pillar of our 21st-century payments system,” calling on Congress to put clear rules on the sector […]
U.S. Rep. Ritchie Torres has called for an investigation into the special purpose broker-dealer (SPBD) license given by the U.S. Securities and Exchange Commission (SEC) to Prometheum, a cryptocurrency exchange platform. In two letters sent to U.S. Comptroller General Gene Dodaro and SEC Inspector General Deborah Jeffries, Torres calls for investigation of the “backroom deals” […]