Cryptocurrency Report
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Altcoin
  • Blockchain
  • Analysis
  • DeFi
  • NFT
  • ICO
  • Videos
What's Hot

White hat hackers have returned $32.6M worth of tokens to Nomad bridge

August 9, 2022

Bitcoin and Ethereum Inch Higher, BNB and SOL Outperform, FLOW Rallies

August 9, 2022

Institutions flocking to Ethereum for 7 straight weeks as Merge nears: Report

August 9, 2022
Facebook Twitter Instagram
  • Advertise
  • Privacy
  • Contact
  • Terms
Facebook Twitter Instagram LinkedIn
Cryptocurrency Report
  • Home
  • News
    1. Bitcoin
    2. Ethereum
    3. Altcoin
    4. View All

    Bitcoin and Ethereum Inch Higher, BNB and SOL Outperform, FLOW Rallies

    August 9, 2022

    Japanese Crypto Industry Urges Tokyo to Reform Tax Laws

    August 9, 2022

    WazirX in Hot Waters, Revolut Doubles Down on Crypto, Elizabeth Warren Picks Another Crypto Battle + More news

    August 8, 2022

    Global Professionals Increasingly Interested In Bitcoin & Crypto Payments – Report

    August 8, 2022

    Former Coinbase Manager Pleads Not Guilty To Wire Fraud Charges

    August 8, 2022

    Bitcoin and Ethereum Inch Higher, APE and SNX Rally

    August 8, 2022

    Bitcoin and Ethereum Consolidate, CEL Accelerates

    August 5, 2022

    If Ethereum Splits, Leading Exchanges are ‘Likely’ to List ETHPoW Token – BitMEX

    August 5, 2022

    Bitcoin and Ethereum Stuck in a Key Range, FLOW Surges Over 50%

    August 8, 2022

    Bitcoin and Ethereum Struggle to Clear Hurdles, Altcoins Dip

    August 8, 2022

    Solana Blames Slope Wallet for Hack While Slope Says that ‘Nothing is Yet Firm’

    August 8, 2022

    Match Group Puts Crypto, Metaverse Plans for Tinder on Hold

    August 5, 2022

    White hat hackers have returned $32.6M worth of tokens to Nomad bridge

    August 9, 2022

    Bitcoin and Ethereum Inch Higher, BNB and SOL Outperform, FLOW Rallies

    August 9, 2022

    Institutions flocking to Ethereum for 7 straight weeks as Merge nears: Report

    August 9, 2022

    F2Pool co-founder responds to allegations it’s cheating the Ethereum POW system

    August 9, 2022
  • Blockchain
  • Analysis
  • DeFi
  • NFT
  • ICO
  • Videos

    The Crypto Metaverse is Growing RAPIDLY! (INSANE MICROSOFT BUY)

    January 18, 2022

    BEST Crypto Safety Guide 101 (Keep Your $$ SAFE with Passphrases)

    January 18, 2022

    SHOCKING: Microsoft Enters the CRYPTO METAVERSE!!! (HUGE $69 Billion CASH Buy)

    January 18, 2022

    URGENT NEWS For Cardano Holders!! (MUST Watch Before Jan 20)

    January 17, 2022

    ⚠️ WARNING To All Bitcoin Holders ⚠️ (Time is RUNNING OUT!!!)

    January 17, 2022
  • bitcoinBitcoin(BTC)
    $42,304.00-0.92% 24H
    BITCOIN
    24H : -0.92%
    Volume : $18,001,823,455.00
    Marketcap : $804,136,324,461.00
  • ethereumEthereum(ETH)
    $3,187.18-1.80% 24H
    ETHEREUM
    24H : -1.80%
    Volume : $11,828,130,842.00
    Marketcap : $383,283,409,099.00
  • tetherTether(USDT)
    $1.000.020% 24H
    TETHER
    24H : 0.020%
    Volume : $42,292,952,195.00
    Marketcap : $82,566,134,570.00
  • binancecoinBNB(BNB)
    $416.19-2.16% 24H
    BNB
    24H : -2.16%
    Volume : $1,421,783,549.00
    Marketcap : $69,948,357,062.00
  • usd-coinUSD Coin(USDC)
    $0.9980.110% 24H
    USD COIN
    24H : 0.110%
    Volume : $3,215,590,549.00
    Marketcap : $50,856,931,622.00
  • solanaSolana(SOL)
    $110.52-1.25% 24H
    SOLANA
    24H : -1.25%
    Volume : $1,326,948,052.00
    Marketcap : $36,230,891,086.00
  • rippleXRP(XRP)
    $0.744-2.62% 24H
    XRP
    24H : -2.62%
    Volume : $2,611,405,064.00
    Marketcap : $35,798,721,281.00
  • cardanoCardano(ADA)
    $1.02-1.97% 24H
    CARDANO
    24H : -1.97%
    Volume : $735,911,632.00
    Marketcap : $32,692,285,870.00
  • terra-lunaTerra(LUNA)
    $87.96-7.21% 24H
    TERRA
    24H : -7.21%
    Volume : $2,091,404,457.00
    Marketcap : $31,224,000,667.00
  • avalanche-2Avalanche(AVAX)
    $79.94-4.23% 24H
    AVALANCHE
    24H : -4.23%
    Volume : $651,461,780.00
    Marketcap : $21,345,345,382.00
  • polkadotPolkadot(DOT)
    $18.98-3.96% 24H
    POLKADOT
    24H : -3.96%
    Volume : $522,492,664.00
    Marketcap : $20,904,948,600.00
  • dogecoinDogecoin(DOGE)
    $0.147-0.35% 24H
    DOGECOIN
    24H : -0.35%
    Volume : $1,709,936,369.00
    Marketcap : $19,528,083,067.00
  • binance-usdBinance USD(BUSD)
    $0.9990.100% 24H
    BINANCE USD
    24H : 0.100%
    Volume : $3,031,521,102.00
    Marketcap : $17,907,585,119.00
  • terrausdTerraUSD(UST)
    $1.000.00% 24H
    TERRAUSD
    24H : 0.00%
    Volume : $710,407,989.00
    Marketcap : $16,759,326,710.00
  • shiba-inuShiba Inu(SHIB)
    $0.000024-0.91% 24H
    SHIBA INU
    24H : -0.91%
    Volume : $622,427,689.00
    Marketcap : $13,391,607,837.00
  • wrapped-bitcoinWrapped Bitcoin(WBTC)
    $42,263.00-1.06% 24H
    WRAPPED BITCOIN
    24H : -1.06%
    Volume : $205,987,180.00
    Marketcap : $11,648,041,723.00
  • crypto-com-chainCronos(CRO)
    $0.437-1.87% 24H
    CRONOS
    24H : -1.87%
    Volume : $43,191,918.00
    Marketcap : $11,045,868,142.00
  • nearNEAR Protocol(NEAR)
    $15.96-4.67% 24H
    NEAR PROTOCOL
    24H : -4.67%
    Volume : $1,001,407,008.00
    Marketcap : $10,603,423,829.00
  • staked-etherLido Staked Ether(STETH)
    $3,182.92-1.85% 24H
    LIDO STAKED ETHER
    24H : -1.85%
    Volume : $8,945,498.00
    Marketcap : $10,259,684,260.00
  • matic-networkPolygon(MATIC)
    $1.43-2.09% 24H
    POLYGON
    24H : -2.09%
    Volume : $379,202,804.00
    Marketcap : $9,786,905,958.00
Cryptocurrency Report
Home » America COMPETES Act passes House without ‘disastrous’ provision on crypto
News

America COMPETES Act passes House without ‘disastrous’ provision on crypto

CryptoReporterBy CryptoReporterFebruary 4, 2022No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

A piece of legislation aimed at addressing supply chain issues to keep the U.S. economy and businesses competitive has passed the House of Representatives — without a provision many in the crypto space had criticized for giving the Treasury Secretary authority to shut down exchanges.

In a 222-210 vote on Friday, the House of Representatives passed the America COMPETES Act mostly along party lines. The provision originally proposed by Connecticut Representative Jim Himes would seemingly have allowed the Treasury Secretary to have fewer limits on surveilling financial institutions with suspected transactions connected to money laundering and not open the matter to include public feedback. However, lawmakers modified the wording earlier this week to safeguard restrictions currently under by the Bank Secrecy Act. 

I’m happy to report @jahimes has listened to our voices and looks like the notice and comment protections in the COMPETES Act related to special measures will be retained! This is in a “manager’s amendment” that will be considered later this week. pic.twitter.com/6mAtLD0tF9

— Jerry Brito (@jerrybrito) January 31, 2022

Prior to Himes essentially reversing part of his provision, non-profit crypto policy advocate group Coin Center criticized the legislation for potentially giving “unchecked and unilateral power to ban exchanges and other financial institutions from engaging in cryptocurrency transactions.” North Carolina Representative Ted Budd also proposed modifying the provision, calling it a “massive mistake”:

A new provision in the COMPETES Act would allow the Treasury Department to unilaterally prohibit certain financial transactions *without* public input.

I’ve submitted an amendment to fix this massive mistake. #crypto #blockchain https://t.co/S8Gi0AIz4l

— Congressman Ted Budd (@RepTedBudd) January 27, 2022

“The Treasury Department should not have unilateral authority to make sweeping economic decisions without providing full due process of rulemaking,” said Budd in a Jan. 27 statement. “This draconian provision would not help America compete with China, it would employ China’s heavy-handed playbook to snuff out financial innovation in our own country.”

Related: White House reportedly preparing executive order on crypto

The bill will likely move to the Senate next, where it may be subject to different amendments from other U.S. lawmakers. Once both chambers approve an identical bill, President Joe Biden will be able to sign it into law.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

White hat hackers have returned $32.6M worth of tokens to Nomad bridge

August 9, 2022

Bitcoin and Ethereum Inch Higher, BNB and SOL Outperform, FLOW Rallies

August 9, 2022

Institutions flocking to Ethereum for 7 straight weeks as Merge nears: Report

August 9, 2022

F2Pool co-founder responds to allegations it’s cheating the Ethereum POW system

August 9, 2022

20M JavaScript devs can now build applications on NEAR: KBW 2022

August 9, 2022

Tornado Cash co-founder reports being kicked off GitHub as industry reacts to sanctions

August 9, 2022
Add A Comment

Leave A Reply Cancel Reply

Top Posts

White hat hackers have returned $32.6M worth of tokens to Nomad bridge

August 9, 2022

Bitcoin and Ethereum Inch Higher, BNB and SOL Outperform, FLOW Rallies

August 9, 2022

Institutions flocking to Ethereum for 7 straight weeks as Merge nears: Report

August 9, 2022

Subscribe to Updates

Get the latest sports news and analysis about crypto coins and the latest news about domains from Techie Memo.

Advertisement

Your number 1 source for all Cryptocurrency news and analysis. here you can follow all updates and latest rates for all currencies. Visit our about page for more information.

We're social. Connect with us:

Facebook Twitter Instagram YouTube LinkedIn
Top Insights

White hat hackers have returned $32.6M worth of tokens to Nomad bridge

August 9, 2022

Bitcoin and Ethereum Inch Higher, BNB and SOL Outperform, FLOW Rallies

August 9, 2022

Institutions flocking to Ethereum for 7 straight weeks as Merge nears: Report

August 9, 2022
Get Informed

Subscribe to Updates

Get the latest sports news and analysis about crypto coins.

Facebook Twitter Instagram LinkedIn
  • Guest Post
  • Privacy Policy
  • Terms & Conditions
  • Contact
© 2022 Cryptocurrency Report. Designed by Sawah Dev.

Type above and press Enter to search. Press Esc to cancel.