The feds are trying to stifle Bitcoin and crypto with draconian new regulations
ould regulations aimed at halting the financial activity of alleged criminals and terrorists be vastly expanded to include cryptocurrencies and firms that use them? Could this potentially harm entrepreneurial spirit and consumer freedom to deal in digital assets? Those were the questions asked this week in Washington as officials from the Treasury Department seek new […]
New Florida bill banning CBDCs passes, arguing they’re not money
The Florida legislature passed a bill Wednesday that effectively bans any central bank digital currency (CBDC) from being used in the state. The new policy says CBDCs issued by any country will not meet Florida’s definition of money. The provision rejects a specific part of the Uniform Commercial Code (UCC), a widely adopted piece of model legislation updated […]
Our Well-Timed Warning on FTX, Bankman-Fried and Future Cryptocurrency Regulations
This letter was sent to Senators, Congressmen of relevant committees, and regulators in the Consumer Financial Protection Bureau, Securities and Exchange Commission, and Commodity Futures Trading Commission in the aftermath of the FTX collapse. The previous letter can be viewed here. Referring to the previous letter we sent to lawmakers and regulators on October 26, […]
Democrats’ ‘newest megadonor’ plummets on Election Day, forced to sell crypto company to biggest rival
Sam Bankman-Fried, the CEO of crypto exchange FTX and considered the Democrats’ “newest megadonor” ahead of the 2022 midterm elections, reportedly saw around $6 billion of withdrawals within 72 hours before Tuesday morning, forcing him to sell the company to its biggest rival on Election Day. Reuters reported that Changpeng Zhao, the leader of competitor Binance, said […]
Consumer Group Warns Regulators of FTX CEO’s influence on Upcoming Cryptocurrency Regulations
Washington, D.C. – Today the Consumer Choice Center sent a letter to Senators and Representatives involved in crafting and approving future cryptocurrency regulations, warning them of the substance of regulatory recommendations made by FTX CEO Sam Bankman-Fried, which he made in a recent company blog post. Bankman-Fried has, in recent years, become a primary player […]
Europe’s comprehensive crypto legislation is being adopted. Here’s what you need to know.
The European Union’s Markets in Crypto Assets Regulation (MiCA), a legislation that aims to “harmonize the European framework for the issuance and trading of various types of crypto tokens as part of Europe’s Digital Finance Strategy,” which has been in the works for years, is finally ready. It has caused plenty of discussions, some controversy […]
EU’s Bitcoin and Cryptocurrency Surveillance Rules to Harm Consumers
The European Union’s final trialogue between Council, Commission, and Parliament has finished crafting the first part of legislation that makes up the new EU anti-money laundering package aligned with the Markets in Crypto-assets rules (MiCA). These rules are drafted following recommendations from the so-called Travel Rule of the Financial Action Task Force (FATF), a global […]
New York lawmakers just killed Bitcoin and crypto mining and consumers will suffer
Albany, NY – Early this morning, the New York State Senate joined with the State Assembly to pass a moratorium on Bitcoin and cryptocurrency mining, issuing yet another reminder that state lawmakers want to deny their residents from interacting with cryptocurrencies. The law would prevent new permits from being issued to carbon-based fueled proof-of-work mining operations that use […]
NIMBY Bitcoin mining ban threatens to lock New Yorkers out of the crypto revolution
By Yaël Ossowski In 2015, when New York unveiled the BitLicense, a regulatory framework for Bitcoin and cryptocurrency, there was great fanfare among lawmakers. For innovators and entrepreneurs, however, that began what many labeled the “Great Bitcoin Exodus”. And though it has been reformed since, much of the cryptocurrency space has walled off the Empire […]
New Yorkers need prudence, not bans, on Bitcoin and cryptocurrency mining
On May 24, 2022, the Consumer Choice Center sent a letter to New York state lawmakers, warning of the potential consequences to consumers if bill S6486D was adopted, a moratorium on Bitcoin and cryptocurrency mining. The full letter is available below, or in PDF version here. Dear Senators, We write to you to urge you […]
EU Risks ‘Forever Stalling’ Digital Innovation With A Bitcoin Ban
The European Parliament’s Committee on Economic and Monetary Affairs will vote today on a comprehensive regulatory proposal called MiCA (Market in Crypto-Assets). This proposal has been in the works for months, however, last-minute several amendments have been added to the proposal, which if accepted could effectively ban Bitcoin and cryptocurrency mining in the European Union, pushing thousands […]
EU Parliament Risks ‘Forever Stalling’ Digital Innovation If It Accepts Environmental Scrutiny on Proof-of-Work Mining, Bitcoin, and the Crypto Economy
BRUSSELS, BE – The European Parliament’s Committee on Economic and Monetary Affairs will vote today on a comprehensive regulatory proposal called MiCA (Market in Crypto-Assets). This proposal has been in the works for months, however, last-minute several amendments have been added to the proposal, which if accepted could effectively ban Bitcoin and cryptocurrency mining in the European Union, […]
