A thread of US Senators pushing back against the crypto provision currently outlined in the infrastructure bill
Sen. Ron Wyden (D-Ore.), Chair, Senate Finance Committee (oversees IRS) @RonWyden

Sen. Pat Toomey (R-Penn.), Ranking Member, Senate Banking Committee @SenToomey

@SenToomey Sen. Cynthia Lummis (R-Wyo.), Senate Banking Committee @SenLummis (emailed statement)

“This is a very complicated space, easy to get wrong, and this is why we need a real committee process to consider these issues, instead of secret drafting. We’re working on making it better.”

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More from @nikhileshde

2 Mar
LIVE: In 15 minutes @SenateBanking @BankingGOP will consider the nominations of Gary Gensler for @SEC_News and @chopraftc for @CFPB. Gensler in particular might have a major impact on the industry. You know the drill, thread starts here:
coindesk.com/gary-gensler-s…
Should be livestreamed here banking.senate.gov/hearings/02/22…
We are off, with @SenSherrodBrown introducing the nominees and discussing the impact the COVID pandemic has had on individuals
Read 29 tweets
4 Jan
A huge chunk of the public comments on the FinCEN rule claim it violates the 4th Amendment. Anyone able to say how accurate that is? My guess is FinCEN's lawyers would have checked for that but I am not a lawyer so would appreciate confirmation/refutation
My hot take is the old regulations.gov site > beta.regulations.gov because it shows you comment previews
A lot of these comments are just some variation of "I don't like it"
Read 6 tweets
4 Jan
Last year President @realDonaldTrump nominated acting @USOCC Comptroller @BrianBrooksOCC to a full 5-year term. As I understand it, that nomination expired at the end of last year. On Jan. 3, Trump re-nominated Brooks to a full term again whitehouse.gov/presidential-a…
Judy Shelton's nomination to the @federalreserve has also been sent back to the Senate, as has been Robert Benedict Bowes to succeed @CFTCquintenz, who announced his departure last year
The Senate meets Jan 6 to certify the Nov election results (every political reporter I follow on Twitter says it'll be a "circus" so don't expect too much on these noms). After that, the Senate doesn't reconvene till Jan 20, when @JoeBiden is sworn in rollcall.com/2020/12/22/sen…
Read 4 tweets
9 Nov 20
Had some technical difficulties but I am now tuned into #bitcoinforadvisors, where @Liqquidity is interviewing @eervin1, @jdorman81 and @DaveNadig about bitcoin ETFs
ETFs are a more liquid version of mutual funds, which is why they originally took off @jdorman81 says #bitcoinforadvisors
A bitcoin ETF will "probably happen at some point" but by that point it might not matter as much @jdorman81 says #Bitcoinforadvisors
Read 19 tweets
30 Jun 20
Hey folks. There will be a hearing today in 30 minutes and I'm going to live-tweet it for @CoinDesk. You know the drill, thread starts here. Preview: coindesk.com/witnesses-will…
.@BankingGOP Chairman @MikeCrapo says some believe traditional financial payment systems are limited in how broadly they can expand userbase because they require pre-existing bank accounts/cards.
Stablecoins are one alternative created, @MikeCrapo says. "Still, there are legitimate questions about certain stablecoins and digital currencies more broadly, such as the degree of oversight, impact on the transmission of monetary policy and disruption of banks' traditional...
Read 62 tweets
11 Jun 20
SOON: I'll be live-tweeting today's @FSCDems / @FinancialCmte hearing on FedAccounts and digital tools for stimulus payments with @iamsandali. You know the drill, thread for @CoinDesk starts here in 45 minutes 👇 #CryptoInDC
I've written a lot of digital dollar articles huh
We're getting started. @RepStephenLynch is kicking things off, asking members to keep their video on at all times, and noting that Congress has already passed one set of stimulus payments for $1,200: "That was all with the intent to provide immediate relief."
Read 90 tweets

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