Senate

After some back and forth with senators, the cryptocurrency amendment (Wyden-Lummis-Toomey) has gone up in smoke in the Senate. What will crypto exchanges, miners and developers do now?

The largest infrastructure bill in US history has just been sent to the US Senate for consideration. However, the bill requires cryptocurrency miners, marked as "brokers," to pay a huge amount of tax, which Senator Cynthia Lummis and her colleagues questioned and immediately filed an amendment.

Being a cryptocurrency supporter is something like a trend now. This has triggered politicians to become crypto-friendly to win the support of people. Did it help them to win elections?

The US Senate adopted new legislation allowing law enforcement agencies to access encrypted data. Such provisions would complicate the operation of the cryptocurrency industry within the country, forcing businesses to go offshore.

The FBI thinks bitcoin can pose a general threat to the USA. During an inquiry on security threats fronting the US and the world at large, an American lawyer serving as a Director FBI Christopher Asher Wray affirmed this to the chief oversight agency dubbed Senate Homeland Security Committee and Government Affairs.

Filipino boxing champion The Honorable Manny Dapidran Pacquiao has finally launched the long awaited celebrity cryptocurrency, hence becoming the first popular professional boxer to own a private token and also the first to join the blockchain and Bitcoin ring. The boxer who at the same time a politician serving as a Member of the Philippine House of Representatives and a Chair of the Senate Public Works, rolled out his own token during the event that took place in the City of Manila where more than two thousand of his fans graced the function with their presence.

Recently, the United States Senate Committee on Banking Affairs had a hearing on bitcoin, cryptocurrency and blockchain regulation and appreciated the thrilling difficulties in effecting a cryptoasset ban.

The entire blockchain and cryptocurrency community is waiting for clear regulatory hearings organized by the United States (US) Senate Banking Committee which are believed will transform the future of this embryonic digital asset sector when effective regulations are introduced and well implemented.

The recent US senate hearing on the upcoming Facebook cryptocurrency Libra coin caused a $20 billion loss in the cryptocurrency market. Bitcoin initiated a downward trend since crypto market drops $20 Billion in 1 hour following Facebook’s Libra senate hearing. Bitcoin price displayed a fairly better performance in the last two months.