The first committee approval of a stablecoin bill in this new congressional session now moves the so-called GENIUS Act toward the Senate floor.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
A Senate committee voted to advance a bill that would eliminate references to reputational risk as a way to supervise financial institutions.
The Senate Banking Committee voted to advance a monumental stablecoin bill, advancing it to the full Senate.
Movement on legislation to regulate stablecoins is underway this week as lawmakers in the House debated necessary provisions in the bill.
Sen. Cynthia Lummis, a major proponent of bitcoin, reintroduced her bill to create a strategic bitcoin reserve.
Sen. Tim Scott released a bill that would block regulations from using reputational risk as a way to supervise banks.
Trump said Sunday that XRP, SOL, and ADA, along with BTC and ETH, will be included in the proposed crypto reserve.
Former FDIC board member McKernan is a critic of overregulation and has pointed out the excesses of Operation Choke Point 2.0.
Legislators convened a panel to discuss what stablecoin and market structure bills need to address.
Lawmakers are starting to get cracking on crypto legislation with hopes that bills can soon get signed by Trump by the end of the year.
As crypto firms and their new government allies rail against U.S. regulators for chasing them out of banking, Powell says such tales are a worry he'll address.
During a press conference last month, Powell said banks can serve crypto customers as long as they can manage the risk.
House Financial Services Committee Republican Chair French Hill released draft legislation to regulate stablecoins.
FDIC Acting Chairman Travis Hill said the agency is overhauling its crypto approach, just as U.S. senators examined regulators keeping banks out of crypto.
"I don't think for a second that you should be locked out of our banking system," said Senator Elizabeth Warren, a noted crypto critic.
David Sacks and the leaders of the congressional committees that will handle crypto legislation outlined their plans at a press conference.
Work is already underway to regulate stablecoins, with Sen. Bill Hagerty introducing a bill on Tuesday to create a regulatory framework.
Coinbase said it wants three top federal banking agencies to take certain steps to end alleged debanking in the crypto industry.
Banks will limit their crypto exposure as long as anti-money laundering risks are at play, according to investment bank TD Cowen.
Crypto-focused PAC Fairshake is gearing up for the 2026 midterms with $116 million at the ready, according to multiple reports.
Coinbase has strengthened its Global Advisory Council with four political and financial heavyweights, signaling a deeper push into policymaking.
Sen. Cynthia Lummis accused the U.S. SEC under former Chair Gary Gensler of undermining lawmakers' efforts to regulate crypto.
The House Oversight and the Senate Banking committees are probing accusations that U.S. regulators blocked crypto insiders from banking.
Led by Senator Cynthia Lummis, arguably crypto's most loyal friend in Congress, the Senate Banking Committee's new digital assets panel includes other fans.
President Donald Trump has picked Mark Uyeda, one of the SEC's top officials, to lead the agency until a permanent chair is confirmed.
The launch of Trump's memecoin days before his inauguration is being received poorly by both crypto pundits and critics in Washington.
Sen. Lummis is threatening criminal repercussions over allegations that the FDIC is destroying digital asset related materials.
The next few weeks are shaping up to be a whirlwind as Trump returns to Washington D.C. with plans to issue executive orders and much more.
Senator Tim Scott said the Senate will tackle crypto bills, and the incoming chair of the House Financial Services Committee said he hopes to pass them in 2025.