Two senators have introduced a short bill with an unusually big ambition: to stop US law from treating people who write and publish blockchain software as if they were running a shadow payments company. The proposal, titled the Blockchain Regulatory Certainty Act of 2026, aims to clarify that “non-controlling” developers and infrastructure providers (i.e., those […]
The post Why writing open-source code is suddenly an existential risk, and the five-page bill designed to fix it appeared first on CryptoSlate.
The digital assets crowd has been complaining bitterly about bank-lobbyist tactics, but Senate lawmakers have a much longer relationship with their bankers.
The Senate Banking Committee may delay its hearing on the crypto market structure bill, originally scheduled for Thursday, Senator Cynthia Lummis told Bloomberg.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Senator Cynthia Lummis introduced a standalone bill to press a key point on how blockchain software developers are treated, though crypto market structure observers await the big show.
The most tireless advocate of digital assets issues in the U.S. Senate said she's grown too tired to keep at it, leaving her Republican seat in play next year.
The Republican lawmaker who is among the core negotiators on the U.S. market structure bill said the White House has rejected some ethics language.
In a bold escalation of the crypto-policy debate, Senator Cynthia Lummis has publicly asserted that Bitcoin is the only solution capable of addressing the mounting national debt burden facing the United States. Her comments come amid rising tensions over monetary policy, inflation, and the role of digital assets in reshaping finance. How Bitcoin Could Reshape Treasury Markets Senator Cynthia Lummis has once again made headlines with her support for Bitcoin, stating in a recent Bloomberg interview that BTC is the only solution to America’s mounting national debt. According to a crypto news source, CryptosRus, posted on X, that Lummis expressed her pro-Bitcoin stance, mentioning that BTC is an asset that will continue to grow over time and is the key to offsetting the burgeoning national debt. Related Reading: Bitcoin In The Crosshairs: US Treasury Secretary Reveals What Senate Democrats Could Learn From BTC Lummis highlighted the concept of a strategic BTC reserve, asserting that it represents the sole viable strategy to offset the national debt. However, CryptosRus noted that her consistent advocacy makes her one of Washington’s most ardent supporters of BTC, pushing for its integration to play the core role of US fiscal strategy. Several companies are actively preparing for this move. An emerging euro-denominated Bitcoin treasury backed by Tyler and Cameron Winklevoss, Treasury_BTC, has announced the appointment of Tycho Onnasch as its new head of BTC strategy. Onnasch is widely recognized within the BTC community for his foundational work on BTC scaling solutions, insightful market analysis, and deep conviction in BTC. Onnasch’s impressive background includes founding Zest Protocol, a leading BTC yield and landing platform, which is supported by BTC heavyweights Tim Draper and Binance Founder Changpeng Zhao. Academically, Tycho holds a degree from Oxford University, with a specialization in economic history. His achievements were further acknowledged with his inclusion in Forbes’ prestigious 30 under 30 Europe list. Onnasch’s role will be instrumental in driving the company’s BTC strategy and influencing its approach to market interpretation. A Healthier Foundation For Bitcoin Next Leg Higher CryptosRus has also reported that BTC has recently experienced its most significant open interest meltdown of its current cycle since the liquidation event that occurred on October 10. The data reveals substantial drops across major platforms, with Binance’s open interest decreasing by $4 billion, Bybit by over $3 billion, and Gate by more than $2 billion. Due to this liquidation event, traders have not rushed back in with leverage. Related Reading: Bitcoin Recovery Lacks Conviction, Market Signals Another Pullback Risk Typically, leverage rebuilds quickly after a wipeout, but the slow recovery from this current scenario suggests that the market confidence is shaken. This sentiment explains the current slow and choppy price action, as the market operates with reduced leverage and fewer aggressive positions. CryptosRus pointed out that when leverage undergoes such a significant reset, the market often leads to an increase in stability. It lowers the risk of another sudden cascade of liquidations and establishes a healthier foundation for the next price movements. The expert concluded that this is a BTC reset, not a breakdown. Featured image from Pixabay, chart from Tradingview.com
On Capitol Hill, Senator Cynthia Lummis wants to make Bitcoin “everyday money.” The Wyoming Republican is quietly drafting legislation that could do what years of evangelism never managed: make buying coffee with Bitcoin practical again. Her proposal, a de minimis tax exemption for small crypto transactions, would let Americans spend a few hundred dollars’ worth […]
The post Senator Lummis pushes tax break for small Bitcoin payments. Could it unlock everyday adoption? appeared first on CryptoSlate.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Senators Kirsten Gillibrand and Cynthia Lummis said bipartisan efforts on the bill were continuing.
The bill will eventually become the law that dictates how financial regulators oversee the market.
U.S. Senator Cynthia Lummis introduced another crypto bill, this one meant to reinforce an effort underway to allow use of digital assets in mortgage underwriting.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
A rumor is rapidly spreading among crypto investors that the US government may have quietly sold off nearly 170,000 BTC, leaving a fraction of its assumed holdings intact. The speculation began after the US Marshals Service, in response to a FOIA request, revealed that it currently holds only 28,988 BTC valued at approximately $3.4 billion. Many crypto investors took this disclosure to mean that the federal government’s total Bitcoin reserves had declined from the long-assumed figure of around 200,000 BTC. The claim was amplified across the social media platform X, where even some public figures reacted to what appears to be a massive strategic sell-off by the US government. FOIA Request Misinterpreted The confusion of the US government selling the majority of its Bitcoin holdings appears to stem from misinterpretations of the specific holdings of the US Marshals Service with those of the entire federal government. The FOIA request that sparked the debate was submitted by journalist L0la L33tz, and it accurately reflects that the Marshals control just under 29,000 BTC. However, this only accounts for the Bitcoin under the custody of that particular agency. Related Reading: This Analyst Predicted Bitcoin’s Rally To $120,000 Months Ago, Here’s The Rest Of The Forecast On-chain data from blockchain analytics firm Arkham Intelligence provides a very different picture. According to Arkham, the US government as a whole still holds approximately 198,000 BTC, worth over $23.46 billion at the current price of Bitcoin. These coins are distributed across various federal agencies and are not limited to the Marshals’ holdings. Nevertheless, the misrepresentation took hold quickly. Even US Senator Cynthia Lummis, who is a well-known advocate of Bitcoin, responded to the rumor, saying, “I’m alarmed by reports that the U.S. has sold off over 80% of its Bitcoin reserves, leaving just ~29,000 coins. If true, this is a total strategic blunder and sets the United States back years in the bitcoin race.” What If the US Quietly Sold 170,000 BTC? The repercussions on the broader crypto market would be immense if the US government had indeed sold off 170,000 BTC in secret. A sale of that scale would unleash massive selling pressure and cause a strong drop in the price of Bitcoin. This would erode confidence among investors in the wider crypto market and set off a chain reaction of liquidations across other cryptocurrencies. Such a move would not only cause technical breakdowns in price structure but also cancel out the possibility of governments around the world holding crypto as a form of strategic reserve. Related Reading: Bitcoin Dominance Just Got Rejected From TSDT Resistance That Triggered Last Altcoin Season — Details Moreover, such a dump would directly contradict the federal policy direction set earlier this year. In March, President Donald Trump signed an executive order instructing all federal agencies to transfer their Bitcoin and digital asset holdings to the US Treasury. The order formalized the creation of a Bitcoin reserve, which was meant to recognize the cryptocurrency as a national asset. In light of that policy, the notion that the US would quietly sell off the majority of its Bitcoin holdings seems highly improbable under the current Trump administration. At the time of writing, Bitcoin is trading at $118,360. Featured image from Pixabay, chart from Tradingview.com
The House Ways and Means Committee is set on July 16 to examine how to set up proper taxation for the crypto sector.
Senator Cynthia Lummis has introduced a standalone bill to pursue the same objectives to ease up on several tax concerns involving digital assets activity.
Senator Cynthia Lummis has introduced a standalone bill to pursue the same objectives to ease up on several tax concerns involving digital assets activity.
The latest comments from government officials at the center of that effort suggest U.S. bitcoin advocates may still have a wait ahead of them.
The latest comments from government officials at the center of that effort suggest U.S. bitcoin advocates may still have a wait ahead of them.
Hopes rose then quickly fell on a potential effort to slip a crypto tax provision into the legislation meant to activate Trump's core policy agenda.
The effort from Senator Cynthia Lummis is one of several crypto tax provisions in an amendment aimed at reducing tax burdens in core areas of the industry.
The Senate and House are sending mixed messages on the most important crypto legislation awaited by the industry, with a new Senate deadline set.
Senator Cynthia Lummis said her realistic goal for the crypto bills is the close of 2025, despite President Donald Trump's wish to sign legislation in August.
Some of the Republican senators working on digital assets policy shared a set of principals to steer the the digital assets policies they're contemplating.
Sen. Cynthia Lummis' RISE Act sets new transparency standards for AI liability protection, mandating disclosures without forcing companies to open-source their models.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Ripple CEO Brad Garlinghouse has expressed frustration after a meeting with pro-crypto US Senator Cynthia Lummis, who chairs the Senate’s Digital Assets Subcommittee, was canceled. In a May 19 post on X, Garlinghouse revealed he was in Washington, D.C., for discussions with lawmakers to promote reasonable regulations for stablecoins and crypto market structure. However, Garlinghouse […]
The post Ripple CEO Brad Garlinghouse left puzzled after snub by pro-crypto Senator Cynthia Lummis appeared first on CryptoSlate.
The legislation to regulate stablecoin issuers hit a big bump a week ago, but negotiations continued and the latest version may move again.