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Live Countdown to US Elections 2024: What’s at stake for crypto

Follow Cointelegraph’s live updates as we count down to the US Elections 2024, exploring its potential impact on crypto regulations, markets, and the future of digital assets.

This live blog is being actively updated with the latest updates from the US Elections 2024.

In the final hours before Election Day, Democrat Kamala Harris and Republican Donald Trump wrapped up months of campaigning with last-minute rallies and events across swing states. 

Harris spent Nov. 4 in Pennsylvania, kicking off her day in Scranton before delivering remarks in Allentown. She also attended rallies and concerts in Pittsburgh and Philadelphia with celebrities. 

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A Theoretical Look at What Could Happen If Trump Creates a US Bitcoin Reserve

Better Know a Crypto Candidate: Jerrod Sessler

As part of its coverage of the 2024 US Elections, Cointelegraph asked several congressional candidates for their positions on crypto.

Jerrod Sessler is running for Washington’s 4th Congressional District in the United States House of Representatives as a Republican against incumbent Dan Newhouse, who is also a Republican who has held the chair since 2015.

The GOP newcomer is an entrepreneur and the founder of the HomeTask maintenance service. Sessler also served in the US Navy and was previously a NASCAR driver. According to a video statement from Sessler, he strongly opposes the centralization of digital assets:

The Congressional candidate continued, “Those that seek to destroy American Liberty, also seek to centralize crypto. As Congressman, I will fully and completely oppose the centralization of crypto in America.”

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A Theoretical Look at What Could Happen If Trump Creates a US Bitcoin Reserve

Binance exec legal battle escalates amid US-Nigeria tug of war

In a statement to the press, Gambaryan’s wife expressed her confusion about why the Economic and Financial Crimes Commission will not release her husband after a court cleared him of tax evasion charges.

The Economic and Financial Crimes Commission (EFCC) pressed ahead with its money laundering case against Binance and its executive, Tigran Gambaryan, on Thursday, June 20, prompting a response from his wife, Yuki Gambaryan.

According to local media, the EFCC’s lead counsel, Ekele Iheanacho, appeared during the proceedings, allowing the cross-examination of the Nigerian Securities and Exchange Commission Director, Abdulkadir Abbas, to proceed.

This development comes just days after a court cleared Gambaryan and Nadeem Anjarwalla — who had fled Nigeria — of tax evasion charges related to Binance in a case brought by the Federal Inland Revenue Service (FIRS) on Friday, June 14.

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A Theoretical Look at What Could Happen If Trump Creates a US Bitcoin Reserve

White House Opposes Crypto Bill FIT21 — Offers to Work With Congress on Balanced Framework for Digital Assets

White House Opposes Crypto Bill FIT21 — Offers to Work With Congress on Balanced Framework for Digital AssetsThe White House has issued a statement opposing the passage of the crypto bill Financial Innovation and Technology for the 21st Century (FIT21) Act ahead of the House vote today. However, the Biden Administration offered to collaborate with Congress to establish a balanced regulatory framework for digital assets. The White House’s statement was preceded by […]

A Theoretical Look at What Could Happen If Trump Creates a US Bitcoin Reserve

Bipartisan bill for blockchain competitiveness passes US House

The Deploying American Blockchains Act of 2023 gives the Commerce Department a role in advancing blockchain technology.

As the crypto community awaits the United States House of Representatives vote on the Financial Innovation and Technology for the 21st Century (FIT21) Act, it passed another, more modest, pro-crypto bill: the Deploying American Blockchains Act of 2023, which was approved by a margin of 334 to 79. 

The bipartisan bill directs the secretary of commerce—currently Gina Raimondo—“to take actions necessary and appropriate to promote the competitiveness of the United States [in] blockchain technology or other distributed ledger technology.”

The bill establishes the secretary as the principal presidential adviser on blockchain and gives the secretary several responsibilities that include policy development, research and promotion of the technology. It also mandates the formation of an advisory committee for the secretary to be made up of governmental, industry, academic and cultural representatives and to present an annual report to Congress.

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A Theoretical Look at What Could Happen If Trump Creates a US Bitcoin Reserve

US Congress Passes First Standalone Crypto Legislation

US Congress Passes First Standalone Crypto LegislationThe U.S. Congress has passed its first standalone crypto legislation, which aims to overturn the controversial U.S. Securities and Exchange Commission (SEC)’s SAB 121 rules regarding crypto assets. However, President Joe Biden has threatened to veto this decision, citing concerns about financial stability and market uncertainty. ‘We Are Just Getting Started’ In a historic move, […]

A Theoretical Look at What Could Happen If Trump Creates a US Bitcoin Reserve

Leaked Memo Suggests Democrats on US House Committee Were Told to Support Party Position on Crypto Regulation

Leaked Memo Suggests Democrats on US House Committee Were Told to Support Party Position on Crypto RegulationDemocratic Party members of the U.S. House Committee on Financial Services were handed a memo instructing them to back the party’s position on crypto regulation moments before the commencement of the hearings on May 10. According to the party’s leaked memo, Democrats on the committee were expected to point to the Republican Party’s lack of […]

A Theoretical Look at What Could Happen If Trump Creates a US Bitcoin Reserve

US Treasury Secretary Janet Yellen Urges Congress to Act Quickly on Debt Limit, States Defaulting Would Be ‘Unthinkable’

US Treasury Secretary Janet Yellen Urges Congress to Act Quickly on Debt Limit, States Defaulting Would Be ‘Unthinkable’U.S. Treasury Secretary Janet Yellen has warned again about the consequences of the U.S. defaulting on its debt. During a press conference in Niigata, Japan, Yellen stated that this would be a self-inflicted crisis, and urged Congress to act quickly on the matter, stating that defaulting would be an unthinkable outcome on this issue. US […]

A Theoretical Look at What Could Happen If Trump Creates a US Bitcoin Reserve

Circle Executive Asked To Join US Congressional Hearing on Stablecoin Payments

Circle Executive Asked To Join US Congressional Hearing on Stablecoin Payments

The chief strategy officer of US Dollar Coin (USDC) stablecoin issuer Circle is expected to testify during an upcoming US congressional hearing on stablecoin payments. According to a congressional memo, Circle’s Dante Disparte is scheduled to testify at Wednesday’s Committee on Financial Services hearing titled “Understanding Stablecoins’ Role in Payments and the Need for Legislation.” […]

The post Circle Executive Asked To Join US Congressional Hearing on Stablecoin Payments appeared first on The Daily Hodl.

A Theoretical Look at What Could Happen If Trump Creates a US Bitcoin Reserve

CATO Institute: CBDC the ‘Single Largest Assault to Financial Privacy Since Creation of Bank Secrecy Act’

CATO Institute: CBDC the ‘Single Largest Assault to Financial Privacy Since Creation of Bank Secrecy Act’A central bank digital currency (CBDC) may turn out to be the “single largest assault to financial privacy since the creation of the Bank Secrecy Act,” a policy analysis document released by CATO Institute has said. To stop the U.S. Federal Reserve and Treasury from threatening the financial system with the CBDC, the document said […]

A Theoretical Look at What Could Happen If Trump Creates a US Bitcoin Reserve