Tagged: legislation

Small Business and Entrepreneurship Council Voices Support for Big Beautiful Bill. Advocates on Behalf of Access to Capital

The “Big, Beautiful Bill,” working its way through Congress, is a tax-and-spend legislation that has supporters and detractors on all sides. Regarding the tax portion, the legislation aims to ensure the previous Trump tax law remains in place, as much of it is scheduled to… Read More

The GENIUS Act, Stablecoin Legislation, Expected to Head to a Floor Vote in Senate Tomorrow

The GENIUS Act (S. 1582), legislation that aims to provide regulatory clarity for stablecoins, is expected to head to a floor vote in the US Senate tomorrow. Last week, the bill was part of a cloture motion, which then limited debate, allowing it to move… Read More

House Financial Services Committee Advances Bill to Ease Crowdfunding Rules for Small Businesses

A bipartisan bill designed to modernize crowdfunding regulations and expand access to capital for small businesses advanced out of the U.S. House Financial Services Committee, potentially paving the way for significant changes to Regulation Crowdfunding (Reg CF) requirements. The legislation is one of many proposed by… Read More

Vietnam Passes Digital Technology Law, Legalizes Crypto Assets

Vietnam has passed a sweeping law to regulate digital assets and boost the country’s technology sector, formally legalizing crypto assets and laying the groundwork for strategic investments in artificial intelligence and semiconductors. The Law on Digital Technology Industry, approved by the National Assembly on Saturday,… Read More

Republicans Queue Up Comments in Support for Digital Asset Legislation, the CLARITY Act

The CLARITY Act (HR 3633)is moving forward in the House. A hearing was held yesterday on the legislation that aims to create a regulatory ecosystem to enable digital asset innovation while protecting consumers. The legislation is extensive, and the House Financial Services Committee has created… Read More

Stablecoin Legislation, the GENIUS Act, Poised for Approval in the Senate Following Cloture Motion

The GENIUS Act, stablecoin legislation, is poised to move towards a Senate floor vote following a Cloture Motion, which was approved 68 to 30 with two members not voting. Senator Bill Hagerty of Tennessee sponsored the legislation. A cloture motion is a procedure that ends… Read More

The CLARITY Act Moves Out of Committee and Heads to Floor Vote in the House

The House Financial Services Committee and House Agriculture Committee have moved comprehensive digital asset legislation forward following a markup hearing on the CLARITY Act. The bill passed by a bipartisan vote of 32 to 19 in the Financial Services Committee, and the Agriculture Committee passed… Read More

Digital Asset Legislation: the Clarity Act in Markup, Changes Expected. Opposition Labels Bill the Calamity Act

The House Financial Services Committee held a meeting today to review the Clarity Act, comprehensive digital asset legislation that aims to clarify a regulatory approach while providing improved consumer protection. Committee Chairman French Hill issued a statement on the bill: “Last week, this Committee held a… Read More

DailyPay Acknowledges Legislative Milestone with Enactment of Bill Regulating On-Demand Pay in Maryland

DailyPay, a worktech company and the provider of On-Demand Pay, marks a significant legislative milestone with the enactment of House Bill 1294, which regulates On-Demand Pay (also known “as earned wage access) services in Maryland.” On-Demand Pay is a critical financial tool that empowers hardworking… Read More

Coalition for Crowdfunding American Jobs and Prosperity Hammers Big Beautiful Bill as Missing the Mark

The Coalition for Crowdfunding American Jobs and Prosperity (CCAJP) has issued a statement slamming the “Big Beautiful Bill,” the tax and budget legislation that was recently approved by the House of Representatives. The CCAJP members include the Crowdfunding Professionals Association (CfPA) as well as industry… Read More

Genius Act Moves Forward in Senate as Cloture Vote Successful

This evening, the Senate Stablecoin Bill, the Genius Act, or The Guiding and Establishing National Innovation for U.S. Stablecoins (S 1582), garnered sufficient votes on a cloture motion to proceed in the Senate. Previously, on May 8th, the bill failed to gain the needed votes to end debate… Read More

Accredited Investor Legislation Moves Forward in House

The current definition of an Accredited Investor has long been understood to be misdirected, disenfranchising millions of potential investors. Today, the definition defines an individual as “Accredited” based on a wealth metric. Broadly, this means earning over $200,000 a year ($300,000 if married) or having… Read More

American Fintech Council Comments on New York State Budget and BNPL Provision Including New Regulations

Kathy Hochul, the Governor of New York, has signed legislation that aims to regulate Buy Now Pay Later (BNPL) providers. The legislation seeks to make it easier for consumers to cancel subscriptions, require platforms to post return and refund policies, make “surveillance price” more transparent,… Read More

Senate Stablecoin Bill, the Genius Act, Hits Speed Bump as Cloture Vote Denied

The Senate Stablecoin Bill, the Genius Act, or The Guiding and Establishing National Innovation for U.S. Stablecoins (S 1582), failed to get enough votes to gain cloture in the Senate. In effect, a cloture motion can quickly end debate and thus allow for a vote on… Read More

Digital Asset Legislation Revealed, Aims to Define Regulatory Environment, Support Crypto Innovation

In advance of today’s hearing, the House Financial Services Committee and the Committee on Agriculture have distributed draft legislation that seeks to outline the regulatory environment for digital assets. The draft legislation is extensive, currently sitting at 212 pages. An 8-page section-by-section description is viewable here. Iterations of this… Read More

Taxbit Shares Insights on Stablecoin Legislation Landscape in the US

Taxbit notes that the rise of stablecoins—digital assets pegged to stable values like the U.S. dollar—has transformed the financial landscape, offering efficiency, accessibility, and stability in transactions. However, this innovation comes with a complex regulatory environment, particularly in the United States. As governments and regulatory… Read More

The Different Legislation Vying to Fix the Definition of an Accredited Investor as Congress Aims to Democratize Access to Certain Private Securities Offerings

The definition of an Accredited Investor will probably change this year. Currently, an Accredited Investor is someone who earns over $200,000 a year ($300,000 if married) or holds over $1 million in assets, not counting a primary residence. While certain adjustments have been made to… Read More

The STABLE Act Moves Forward in Markup Hearing

The Stable Act, legislation designed to clarify the issuance of stablecoins, is in markup today as the House Financial Services Committee seeks to move the bill towards approval. The legislation is bipartisan, having been sponsored by both Republicans and Democrats, including Representatives Hill, Torres, Emmer, Huizenga, Meuser,… Read More

Financial Integrity and Regulation Management Act (FIRM Act) Aims to Stop Financial Firms from Debanking Customers for Political Reasons

Debanking or blocking individuals and firms from the banking system was a nefarious activity pursued by the Biden administration. It has been widely reported that too frequently, businesses and individuals who were associated with crypto activity, or out-of-favor individuals, were debanked – their bank told… Read More

NASAA Tells Congress to Prohibit Interest Payments on “Payment Stablecoins”

NASAA (North American Securities Administrators Association) has sent a letter to Congress requesting the definition of a “payment stablecoin” does not incorporate the payment of interest, similar to a money market fund. NASAA addressed the House Financial Services Committee and the Senate Banking Committee, where… Read More

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