Trump Rallies Crypto CEOs to Push Senate on CLARITY Act Vote
President Trump was joined by industry CEOs to urge the Senate to pass the CLARITY Act, day three in a coordinated four-day run pushing crypto in the US.
Senior Reporter · Joined 2020
Covers Crypto Regulation, Crypto Business and Market Updates.
Melker Bengtsson is a Swedish writer with 10+ years of experience in cryptocurrencies, investing and personal finance. He holds a BSc in Finance from the University of Gothenburg.
President Trump was joined by industry CEOs to urge the Senate to pass the CLARITY Act, day three in a coordinated four-day run pushing crypto in the US.
Yesterday, the SEC formally proposed Regulation Crypto. Reg Crypto would create rules for fundraising with crypto, opening the door for new L1s, networks and DeFi protocols to raise money.
One of the first MiCA fines has been issued in the EU. Austria's FMA fined Bitpanda €70,000 for bureaucratic misses: a late white paper and marketing breaches, not customer funds.
Bruce Blakeman, the Republican candidate for governor in New York, says he'll get rid of the BitLicense, New York's mandatory crypto permit, seen as one of the toughest licenses in the world.
Just hours before it was supposed to happen, the SEC cancelled the meeting where it was set to propose Regulation Crypto, citing "an unforeseen scheduling issue". No new date has been set.
The OCC says crypto firms should have a path to becoming national banks, formalizing what has been case-by-case approval as agency doctrine, while bank lobbies consider a lawsuit against the agency.
Trump wants to change how the capital gains tax is calculated by indexing gains to inflation. Since digital assets are considered property, this would affect all US crypto holders.
AUSTRAC, the Australian financial crime regulator, has suspended crypto ATM operator Cryptolink's registration, shutting down 96 crypto ATMs throughout Australia. The suspension took effect Sunday and will remain for three months.
The US Securities and Exchange Commission has called a meeting to discuss Regulation Crypto, its first formal ruleset for crypto, a new dedicated offering regime for crypto fundraising, on August 14th.
Japan has created a standalone Crypto Assets and Stablecoins Division within the FSA, a big regulatory upgrade for an asset class previously handled by a back-office unit in the agency.
The U.S. Senate leaves for August recess without a vote on the CLARITY Act. Thune says the bill will be queued up first thing when Senators return on September 14th.
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