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VOICE ARCHIVE

@financialcmte

@financialcmte
15 posts
2025-04-18
🚨NEW: The Committee applauds Acting Director Vought's reprioritization of the CFPB's enforcement priorities. This is a welcomed change from the Biden Administration's aggressive regulation by enforcement approach.
2025-04-18 View on X
Wired

Sources: the CFPB terminated more than 1,400 workers, leaving about 200 employees and effectively gutting the agency that Elon Musk previously said to “delete”

The Consumer Financial Protection Bureau terminated the positions of 1,400 of the agency's 1,700 employees …

2025-04-10
🚨NEW: Chairman @RepFrenchHill statement on Paul Atkins' confirmation as the new @SECGov Chair. [image]
2025-04-10 View on X
CoinDesk

The US Senate confirms former SEC Commissioner Paul Atkins as SEC chair, succeeding Gary Gensler; Atkins is widely expected to support crypto-friendly policies

Paul Atkins is just one oath away from taking over the U.S. Securities and Exchange Commission as President Donald Trump's pick …

2025-02-04
🚨Chairman @RepFrenchHill: “I look forward to working with Acting Director and Treasury Secretary Scott Bessent to finally rein in this unaccountable agency by putting the CFPB under the appropriations process, making it a bipartisan commission, and providing appropriate
2025-02-04 View on X
Bloomberg Law

US Treasury Secretary Scott Bessent orders the CFPB to stop activities, like rulemaking, communications, and litigation; in November, Musk said to “delete CFPB”

Search by Topic  —  Treasury Secretary Scott Bessent has shut down a wide variety of operations inside …

2024-11-22
The larger participants final rule is yet another power grab—exploiting broad language to expand the agency's reach. It's positive the @CFPB excluded digital assets from the scope of this rule, which would further stifle innovation, as Republicans called for earlier this year.
2024-11-22 View on X
Bloomberg

The CFPB will supervise tech companies with digital wallets, like Apple Pay, Google Pay, and Venmo, with 50M+ annual transactions, treating them more like banks

the Biden/Warren crew just enacted this to stop @X from becoming a payments juggernaut. Wow, a whole new 259-page rule aimed at X...yet more lawfare against you.👊 (Congress can & p...

2024-08-16
The Senate must urgently act on digital asset legislation. The future of the U.S.'s role as a hub for capital deployment, as well as technological innovation and adoption, is on the line.
2024-08-16 View on X
Reuters

At a Crypto4Harris online event, Mark Cuban, Anthony Scaramucci, and other crypto advocates supporting Kamala Harris urged a reset in Democratic crypto policy

even as Trump goes all-in. Here's why MacKenzie Sigalos / CNBC : Schumer says a crypto bill can pass Senate this year; key Dems join ‘Crypto4Harris’ call Bloomberg : Schumer Target...

2024-06-02
It's extremely disappointing @POTUS vetoed the SAB 121 CRA. This ignores multiple bipartisan votes, which sent the Administration a clear message its approach to digital asset policy is misguided. Congress will continue fighting for regulatory clarity for digital assets.
2024-06-02 View on X
The Block

President Biden vetoes a bill overturning SAB 121, a controversial SEC bulletin that establishes accounting standards for companies that custody crypto

- U.S. President Joe Biden vetoed a bill to overturn a controversial Securities and Exchange Commission bulletin, SAB 121 …

2024-06-01
It's extremely disappointing @POTUS vetoed the SAB 121 CRA. This ignores multiple bipartisan votes, which sent the Administration a clear message its approach to digital asset policy is misguided. Congress will continue fighting for regulatory clarity for digital assets.
2024-06-01 View on X
The Block

President Biden vetoes a bill overturning SAB 121, a controversial SEC bulletin that establishes accounting standards for companies that custody crypto

- U.S. President Joe Biden vetoed a bill to overturn a controversial Securities and Exchange Commission bulletin, SAB 121 …

2024-05-24
#PASSED: In a watershed moment for the U.S. digital asset ecosystem, the House passes the Financial Innovation and Technology for the 21st Century Act with overwhelming bipartisan support. 🚂 Next stop for #FIT21, the Senate. 👇 Read more 🔗 https://financialservices.house.gov/ ... [image]
2024-05-24 View on X
Decrypt

The US House passes the Financial Innovation and Technology for the 21st Century Act, or FIT21, which would create a regulatory framework for digital assets

2024-05-23
#PASSED: In a watershed moment for the U.S. digital asset ecosystem, the House passes the Financial Innovation and Technology for the 21st Century Act with overwhelming bipartisan support. 🚂 Next stop for #FIT21, the Senate. 👇 Read more 🔗 https://financialservices.house.gov/ ... [image]
2024-05-23 View on X
Decrypt

The US House passes the Financial Innovation and Technology for the 21st Century Act, or FIT21, which would create a regulatory framework for digital assets

Dubbed the Financial Innovation and Technology for the 21st Century Act, or FIT21, the measure was approved by the House of Representatives with a 279-136 vote.

2024-05-01
Classifying #ETH as a security contradicts previous statements of the SEC and Chair Gensler. Republicans will continue to hold the SEC accountable for its regulatory overreach that is stifling innovation, leaving consumers unprotected, and risking our national security.
2024-05-01 View on X
CoinDesk

US House Financial Services Committee Chair Patrick McHenry accuses Gary Gensler of misleading Congress on the SEC's position on whether ether is a security

The chairman of the House Financial Services Committee says Gensler refused to discuss his view on ETH in testimony even after the SEC was investigating it as a security.

2024-01-17
Congress must urgently consider the Keep Innovation in America Act, the bipartisan solution to fix the misguided reporting requirements from the IIJA and keep the digital asset ecosystem in the U.S. Read more about the Keep Innovation in America Act 🔗 https://financialservices.house.gov/ ...
2024-01-17 View on X
Decrypt

The US Treasury and the IRS say they are not currently enforcing a rule requiring businesses to report getting $10K+ in digital assets within 15 days of receipt

The tax law would require business-related crypto transactions over $10,000 to be reported like cash, but it's not quite ready yet.

We welcome this stopgap action by @IRSnews to clarify the forthcoming regulations on section 6050I for digital assets. However, this does not fix the underlying problems with the poorly constructed digital asset reporting requirements. https://www.irs.gov/...
2024-01-17 View on X
Decrypt

The US Treasury and the IRS say they are not currently enforcing a rule requiring businesses to report getting $10K+ in digital assets within 15 days of receipt

The tax law would require business-related crypto transactions over $10,000 to be reported like cash, but it's not quite ready yet.

2023-08-16
#NEW: Chairman @PatrickMcHenry led Republicans on the Financial Services Committee in letters to @FINRA and @SECGov regarding the shady approval of Prometheum as the only Special Purpose Broker-Dealer for digital assets. 👇 Read more 🔗 https://financialservices.house.gov/ ... [image]
2023-08-16 View on X
CoinDesk

GOP House Financial Services Committee lawmakers demand that SEC Chair Gary Gensler explain how Prometheum won its unique approval as a broker-dealer for crypto

Jesse Hamilton / CoinDesk :

2023-08-10
#NEW: Chairman @PatrickMcHenry and Subcommittee Chairman @RepBlaine release a statement on the Biden Administration's Executive Order restricting outbound investment to China. 👇 Read more 🔗 https://financialservices.house.gov/ ... [image]
2023-08-10 View on X
Wall Street Journal

Biden signs an executive order banning US investments in some Chinese companies developing advanced semiconductors and quantum computers, starting in 2024

Biden's order will also require U.S. private-equity and venture-capital firms to disclose certain investments

2023-04-19
Chairman @PatrickMcHenry wasted no time taking @GaryGensler to task at today's hearing. “We have a constitutional duty to conduct oversight of the agencies under our jurisdiction and we will continue to do so aggressively.” Read more: https://financialservices.house.gov/ ... 📺 Watch👇 https://twitter.com/...
2023-04-19 View on X
MarketWatch

During a hearing, House Republicans grilled SEC Chairman Gary Gensler, who refused to state whether ether is a security, despite saying bitcoin is a commodity

#SEChearing Tweets: @warrendavidson : 🚨I'm calling to restructure the @SECGov and the removal of Chair @GaryGensler. Watch my closing remarks from today's hearing where I lay out t...