Senate

US Senate Bill Will Give CFTC Crypto Market Oversight – But Doesn’t Say How Much

“Right now, there’s really a patchwork of state regulations and no federal agency to conduct oversight over the cryptocurrencies, and we know that needs to change,” said Sen. Debbie Stablenow (D-Mich.), the committee’s chairwoman, who unveiled the bill Wednesday with the panel’s ranking Republican, Sen. John Boozman (R-Ark.). “The money of American consumers is at …

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Senate To Classify Bitcoin As Digital Commodity – Bitcoin Magazine

A new bill classifying bitcoin as a digital commodity could be introduced today. This move would empower the current watchdog of derivatives and future markets, the CFTC, to gain regulatory jurisdiction over bitcoin. The bill seeks to expand on previous definitions in the bitcoin ecosystem while also excluding securities from being digital commodities. Leaders of …

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Senate Bill To Exempt Tax On Small Bitcoin Transactions – Bitcoin Magazine

The Virtual Currency Tax Fairness Act seeks to provide tax exemption for transactions up to $50 or trades which net a capital gain of less than $50. Senators Patrick Toomey and Krysten Sinema will introduce the bill today. A House bill was previously introduced with a threshold of up to $200 this past February under …

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