Pennsylvania’s HB1812 legislation introduces strict ethics standards for public officials regarding digital assets, requiring disclosure of holdings over $1,000 and mandatory divestment within 90 days of enactment. The bill prohibits officials from crypto transactions during their term and for one year after leaving office, with violations classified as felonies carrying fines up to $10,000 or five years imprisonment. The legislation also extends restrictions to immediate family members and establishes a 60-day implementation period. This state-level action mirrors federal initiatives like the COIN Act and MEME Act, reflecting bipartisan concern about crypto-related conflicts of interest as digital assets become mainstream investment vehicles.
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Bipartisan Digital Asset Market Clarity Act Introduced
The Digital Asset Market Clarity Act, introduced by Rep. French Hill, proposes a unified federal framework for cryptocurrencies, distinguishing between securities and commodities. The 249-page bill defines terms like ‘digital commodity’ and ‘permitted payment stablecoin’ while amending existing laws to incorporate them. It introduces a four-year safe harbor for primary token offerings under certain conditions and shifts spot trading and custody of digital commodities to CFTC oversight. The bill also maintains dual oversight for hybrid products and requires crypto exchanges to register with the CFTC. Bipartisan supporters argue it provides much-needed clarity, safeguards self-custody, and promotes market growth. The legislation now moves to committee markups before potential floor consideration.
read moreEmmer Reintroduces Crypto Regulatory Clarity Bill
On May 21, Congressman Tom Emmer reintroduced the bipartisan Blockchain Regulatory Certainty Act (BRCA), which seeks to clarify that non-custodial crypto service providers—such as developers, miners, and wallet providers—should not be classified as money transmitters. The bill aims to prevent regulatory ambiguity from driving innovation overseas. In related news, Texas passed a bill (SB 21) to create a strategic Bitcoin reserve, allowing the state to manage crypto assets for financial security. Additionally, Michigan introduced four new crypto-related bills, including proposals for state retirement fund crypto investments and Bitcoin mining on abandoned oil wells. Industry groups like Coin Center and the Blockchain Association have endorsed Emmer’s bill, while Texas joins Arizona and New Hampshire as states with crypto reserve laws.
read moreUS Congress Reintroduces Crypto Regulatory Clarity Bill
Minnesota Representative Tom Emmer, alongside Congressman Ritchie Torres, has reintroduced the Blockchain Regulatory Certainty Act (BRCA) to clarify that non-custodial blockchain developers and service providers should not be classified as money transmitters. The bill seeks to prevent overregulation that could drive innovation overseas, emphasizing bipartisan support for fair digital asset policies. Industry leaders, including Coin Center and The Digital Chamber, have praised the legislation, highlighting its potential to protect American innovators. This follows previous attempts to pass similar bills, with the latest version offering a refined framework. The reintroduction aligns with broader US efforts to integrate digital assets into the financial system, as seen in recent crypto-friendly policies.
read moreBipartisan Blockchain Bill Gains Support Amid Crypto Stalemate
The Blockchain Regulatory Certainty Act, reintroduced by Republican Representative Tom Emmer with Democratic co-leader Ritchie Torres, seeks to exempt non-custodial crypto services from money transmitter regulations. This bipartisan effort emerges as crypto legislation faces gridlock in Congress, partly due to concerns over President Trump’s memecoin-related activities. The bill refines earlier proposals, balancing innovation with regulatory oversight, and marks a rare moment of cross-party cooperation in the contentious crypto policy space. Emmer and Torres emphasize the bill’s improved framework addresses previous criticisms while protecting blockchain development.
read moreUS Lawmakers Advance Blockchain Bills: GENIUS Act & Regulatory Certainty
On May 21, US lawmakers moved forward with two key blockchain-related bills. The Senate approved a motion to debate the GENIUS Act, which sets strict standards for stablecoin issuers, including 1:1 reserve backing, KYC/AML compliance, and a ban on yield-bearing products. Meanwhile, the House reintroduced the Blockchain Regulatory Certainty Act, proposing a federal safe harbor for non-custodial blockchain developers and node operators, shielding them from being classified as financial intermediaries. The GENIUS Act now enters an open amendment process, while the House bill signals growing momentum for clearer crypto regulations. Both measures reflect bipartisan efforts to shape the future of digital asset oversight in the US.
read moreHouse Democrats Probe Trump’s Crypto Ventures for Fraud
House Democrats, including Gerald Connolly, Joseph Morelle, and Jamie Raskin, have launched an inquiry into Donald Trump’s crypto ventures, citing concerns over illegal fundraising, foreign influence, and political conflicts. The investigation targets Trump-affiliated entities like WinRed, World Liberty Financial (WLF), and meme coins TRUMP and MELANIA, which allegedly generated over $100 million in trading fees. Lawmakers highlight a $75 million WLF token purchase by Tron founder Justin Sun, who is under SEC scrutiny, raising bribery suspicions. The letter also addresses national security risks, as most WLF tokens were sold to foreign investors. Additionally, a planned WLF stablecoin, USD1, is linked to a $2 billion Binance investment backed by Abu Dhabi, further fueling ethics concerns. Democrats demand suspicious activity reports (SARs) by May 30, amid broader legislative efforts to regulate political crypto involvement, including a failed stablecoin bill tied to Trump’s dealings.
read moreTorres Bill Aims to Ban Federal Officials from Crypto Trading
Representative Ritchie Torres is drafting a bill to ban federal officials, including Congress members and regulators, from owning or trading cryptocurrencies to prevent conflicts of interest. The proposed legislation, titled ‘Stop Presidential Profiteering from Digital Assets Act,’ extends existing financial ethics rules to digital assets like stablecoins and memecoins. It also mandates disclosure of crypto holdings by covered individuals. The bill arrives amid ongoing crypto regulatory debates and follows concerns over policymakers’ exposure to digital markets. Critics question its feasibility, while supporters argue it addresses gaps in current disclosure rules. The draft has sparked discussions on the intersection of politics and crypto investments.
read moreUS Congressman Engages with Ethereum to Understand Crypto Regulation
Rep. William Timmons (R-SC) has taken a hands-on approach to cryptocurrency by setting up a self-custodial Ethereum wallet, “wrtiv.eth,” to better understand the technology and its regulatory challenges. As a member of the Subcommittee on Digital Assets, he aims to advance bipartisan legislation, including the Financial Innovation and Technology for the 21st Century Act and upcoming bills on stablecoins and market structure. Timmons emphasizes the importance of experiencing the technology firsthand to inform policy decisions.
read moreThe Threat of Debanking and Regulatory Discretion in the Financial System
Operation Choke Point 2.0 has intensified the debanking of legal businesses, particularly in the cryptocurrency sector, as federal regulators pressure banks to sever ties with certain customers. This practice, rooted in broad regulatory discretion, poses a significant threat to civil liberties and has historical precedents dating back to 2013 and beyond. To effectively combat this issue, Congress must limit the powers granted to regulatory agencies, as bipartisan solutions are essential for protecting law-abiding citizens and businesses from unjust debanking.
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