Congress | Crypto

Banking advocacy organizations are pushing back against the OCC’s finalized rules on a stablecoin law, arguing against changes to provisions on yield. A lobbying group for US banks has weighed in on the Office of the Comptroller of the Currency’s (OCC’s) recently finalized rules on payment stablecoin issuance and custody, arguing that the regulator’s interpretation went against Congress’ intent. In a Wednesday notice, the American Bankers Association (ABA) said that while the OCC’s final rules implementing the GENIUS Act included “several positive steps,” the banking group remained critical of provisions related to stablecoin yield. The regulator dropped a provision that would have established a presumption that certain third-party arrangements violated the law’s ban on yield payments. “The final rule removes the OCC’s originally proposed safeguards that would have addressed indirect arrangements involving affiliates, exchanges and other distribution partners,” said ABA. “As a result, payment stablecoin issue...

The organization’s endorsements in the House and Senate came as many polls showed Democrats favored to regain control of both chambers in 2027. Update (Sept. 30, 10:55 pm UTC): This article has been updated to include a response from Stand With Crypto. Stand With Crypto, the industry-aligned organization Coinbase launched in 2023 to promote what it called “clear, common-sense regulations for the crypto industry,” has announced several picks for the next session of the US Congress. On Wednesday, Bloomberg first reported that Stand With Crypto said it would be supporting candidates running for Senate seats in 2026, including Republican Jon Husted in Ohio, Republican Ashley Hinson in Iowa and Democrat Chris Pappas in New Hampshire. Husted is defending his Senate seat against Democrat Sherrod Brown, who lost to Republican Bernie Moreno in 2024 after outside groups spent more than $300 million in Ohio. Read more

Tokenized stocks and wallet-linked derivatives can launch under new relief, while durable rights and jurisdiction remain unresolved. The post SEC and CFTC bypass Congress to open crypto access after CLARITY fails – with a catch appeared first on CryptoSlate.

The Shark Tank investor says Congress will face pressure to revive crypto market structure legislation as it moves to establish tax rules for digital assets.

H.R. 10357 would ease payments, fees and qualifying loans while widening loss-deferral and trader-accounting rules. The post Congress wants to make crypto easier to use and still collect $500 million more in taxes appeared first on CryptoSlate.

Corporate political donations hit a record $646 million over the 18 months through June, according to Public Citizen's analysis of FEC filings. Crypto political spending led every other corporate sector at $206 million, while crypto, AI, and online betting together accounted for $344 million, more than half the total. The GENIUS Act already created a […] The post What the $344M crypto political spending spree wants from Congress next appeared first on CryptoSlate.

The SEC proposal and Congress’s unfinished ancillary-asset framework diverge on who qualifies, what investors can enforce and how overlapping rules would interact. The post Why the SEC’s $75 million crypto path is not the same deal Congress is offering appeared first on CryptoSlate.

Polymarket Trump impeachment odds diverge sharply as traders price different Congresses, midterm results and the House’s role in proceedings. The post Polymarket Trump Impeachment Odds Turn on Control of Congress appeared first on Cryptonews.

President Donald Trump said on Aug. 20 that the US is considering accumulating sizable amounts of Bitcoin and other cryptocurrencies. Current law gives his administration several ways to increase federal crypto holdings, though no public authority gives Treasury a funded program for multibillion-dollar open-market purchases. For Bitcoin, Trump's 2025 executive order already directs Treasury and […] The post Trump wants the US to become a Bitcoin whale, but Congress controls the wallet appeared first on CryptoSlate.

CFTC Chair Michael Selig said on Aug. 4 that the agency has crypto rule proposals ready and plans to finalize them before the current administration ends, regardless of whether Congress passes the CLARITY Act. SEC Commissioner Hester Peirce has separately said the SEC can keep pursuing meaningful crypto rulemaking even if Congress fails to act. […] The post SEC and CFTC plans to write crypto rules without Congress – but they can’t make them permanent appeared first on CryptoSlate.

Section 20216 of the latest CLARITY draft states that a self-custodied digital asset cannot become abandoned, unclaimed, or forfeited. It also cannot become subject to adverse possession or finder's title solely because its owner has not moved it or otherwise shown continued interest. The language overrides state and local laws that treat years of wallet […] The post Lawsuit claims 3.8M dormant BTC using police lost-and-found rules as Congress races to stop it with CLARITY appeared first on CryptoSlate.

Congress just blocked the Federal Reserve from issuing a CBDC, and the companies benefiting most are private stablecoin issuers like Circle and Tether. The 21st Century ROAD to Housing Act passed the Senate 85-5 on June 22 and cleared the House 358-32 the next day, and folded inside that housing package is a four-year ban […] The post Congress blocks introduction of any CBDC in the next 4 years – but the fight over digital money is just starting appeared first on CryptoSlate.

As Congress prepared to celebrate the president's signing of the bipartisan housing bill that contains a CBDC prohibition, Trump abruptly cancelled the event.

Protect Progress spent $5.5M to flip a 24-candidate Maryland primary, sending crypto-backed Adrian Boafo to Congress as the industry builds its 2026 bloc. The post Fairshake’s $5.5M Maryland Bet Pays Off: Boafo Heads to Congress appeared first on Cryptonews.

A trio of crypto lobby groups says a bill allowing staking and mining rewards to be taxed when they’re sold should be passed without further amendments. A group of crypto lobbying organizations has urged Congress to pass a bill on crypto staking and mining taxes without changes, saying it would provide clarity on crypto rewards taxes and ensure blockchains “can be secured by Americans in America.” The Blockchain Association, the Crypto Council for Innovation and The Digital Chamber said in a letter on Sunday to House Ways and Means Committee Chair Jason Smith and its top Democrat, Richard Neal, that the Tax Clarity for Mining and Staking Act should be passed “as introduced.” “After years of uncertainty about how mining and staking rewards are taxed, the bill provides a durable compromise that innovators can support while addressing concerns raised by some lawmakers,” the group wrote. Read more

Gambling industry groups want the US Senate to step in to clarify that the Commodity Futures Trading Commission does not have the authority to oversee prediction markets. Several national gaming and tribal organizations and labor groups have reportedly called on the US Senate to add language “that explicitly prohibits event contracts tied to sports and casino-style gaming” in the Digital Asset Market Clarity (CLARITY) Act. According to a Wednesday Semafor report, groups tied to sports betting, including the Indian Gaming Association and American Gaming Association have united against what they called gambling on prediction markets. They requested that the US Congress use the CLARITY Act now under consideration in the Senate to affirm that “sports betting falls outside the [Commodity Futures Trading Commission’s] remit and cannot be offered through prediction market platforms.” “While our organizations may differ on other issues, including gambling policy, we are united in our concern that prediction markets h...

The bill avoids market regulation while trying to rebuild federal coordination for hacks, tracing, and victims. The post Congress moves to rebuild crypto crime task force after DOJ dismantled its dedicated crypto team appeared first on CryptoSlate.

A June 9 Ways and Means hearing pushes crypto policy into the tax code, where small payments, stablecoin use, network fees, mining, staking, and donations all face the same usability test. The post Congress is weighing whether crypto tax relief should stop at stablecoins appeared first on CryptoSlate.

For traditional US banks, the CLARITY Act was intended as a firewall that effectively barred crypto companies from offering “passive” interest on stablecoins. The legislation aimed to prevent a catastrophic deposit flight in which everyday checking account balances drain from the banking system into high-yield crypto exchanges. But as lawmakers prepare to finalize the framework, […] The post Banks pushed Congress to kill stablecoin yield with CLARITY Act – Coinbase may have found the loophole appeared first on CryptoSlate.

The CLARITY Act's markup has moved past the stablecoin yield standoff to Sen. John Kennedy's housing frustration, unresolved protections for software developers, and the Republican vote math that Senate Banking Chair Tim Scott still needs to close. The Tillis-Alsobrooks compromise that broke the yield deadlock allows stablecoin rewards tied to platform usage and activity while […] The post Crypto Clarity rules may be delayed because Congress is somehow stuck arguing over housing appeared first on CryptoSlate.