North Carolina Rejects Federal Digital Currency, Overrides Governor’s Veto

September 11, 2024 Bitcoin.com

bitcoin.com

The North Carolina General Assembly has overridden Governor Roy Cooper’s veto to enact a bill prohibiting a central bank digital currency (CBDC) in the state. The Senate voted 27-17, securing the required supermajority. The bill bars payments using CBDC and state participation in Federal Reserve testing. This bill reflects strong opposition to CBDCs and emphasizes […]

<div>Bitcoin 'diamond hand' sell-off risks outpacing ETF inflows at K</div>

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

US House May Vote This Week To Overturn President Biden’s Veto on Crypto-Related Bill SAB 121

July 7, 2024 The Daily Hodl

congress

The US House of Representatives could be voting this week to overturn President Joe Biden’s veto of a bill that would have eliminated a controversial rule by the U.S. Securities and Exchange Commission (SEC). According to House Majority Leader Steve Scalise’s weekly schedule, the House of Representatives may vote this week to overturn Biden’s veto […]

The post US House May Vote This Week To Overturn President Biden’s Veto on Crypto-Related Bill SAB 121 appeared first on The Daily Hodl.

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

North Carolina’s CBDC ban bill vetoed by governor

July 7, 2024 Coin Telegraph

Blockchain Association

Governor Roy Cooper was slammed for not putting “partisan politics aside” to support a law that would benefit all North Carolina residents.

North Carolina Governor Roy Cooper has vetoed a bill banning the state from implementing a Federal Reserve-issued central bank digital currency despite receiving near-unanimous support in the House and Senate.

Cooper, who has faced criticism for making a politically motivated decision, explained in a June 5 statement that House Bill 690 was too “premature, vague, and reactionary” to sign into law.

Cooper’s veto followed a lopsided 109-4 vote in the House and a 39-5 vote in the Senate in late June.

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

North Carolina Governor Vetoes Bill Banning State Use of Central Bank Digital Currencies

July 7, 2024 Bitcoin.com

bitcoin.com

The governor of the U.S. state of North Carolina has vetoed House Bill 690, which seeks to ban state payments using central bank digital currencies (CBDCs) and the state’s participation in the Federal Reserve’s CBDC testing. The governor argued the bill was premature and emphasized the need for more funding for cybersecurity. House Bill 690 […]

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

US House may vote to overturn Biden’s SAB 121 veto next week

July 6, 2024 Coin Telegraph

Coin Telegraph

While the House and Senate already voted to overturn SAB 121, it will need a two-thirds majority vote from both chambers to invalidate Biden’s veto.

United States President Joe Biden’s controversial veto to block Staff Accounting Bulletin 121 could be voted on by the House of Representatives next week.

SAB 121 — a proposed rule mandating that SEC-reporting entities custodying cryptocurrencies to record those holdings on their balance sheets — is currently on the House’s “legislation that may be considered” list, according to a weekly schedule posted by House Majority Leader Steve Scalise.

Voting to overturn or uphold presidential vetoes is a constitutional obligation for the House, so it must vote again. The votes could be take place on Tuesday or Wednesday.

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

3 reasons why Bitcoin failed to break above $72K

June 5, 2024 Coin Telegraph

3 reasons why Bitcoin failed to break above K

approval

Regulatory uncertainty and volatile macroeconomic events may weaken further upside in the BTC price in the near term.

Bitcoin (BTC) registered a 5.9% gain between June 2 and 5, but its rally was halted at $71,746. This movement was supported by a nearly $1 billion worth of inflows into U.S.-listed Bitcoin spot exchange-traded funds, indicating strong demand from institutional investors.

Bitcoin’s bullish momentum was also fueled by the significant growth of the U.S. banking sector’s unrealized losses. However, despite favorable conditions, including a more crypto-friendly stance from U.S. lawmakers, Bitcoin was unable to break above $72,000.

According to Matt Hougan, Bitwise’s chief investment officer, regulatory uncertainty has hindered financial advisers from increasing their crypto exposure. Nevertheless, Hougan believes the U.S. is moving toward regulatory clarity, a shift that began when Democrats voted to repeal the U.S. Securities and Exchange Commission's (SEC) Staff Accounting Bulletin 121.

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

SEC Commissioner Advocates for Withdrawal of SAB 121 — Says Biden’s Veto Was Unfortunate

June 5, 2024 Bitcoin.com

Administrative Procedure Act

U.S. Securities and Exchange Commission (SEC) Commissioner Mark Uyeda advocates for the withdrawal of Staff Accounting Bulletin 121 (SAB 121), which sets guidelines for accounting crypto liabilities. He argues that the method of its issuance undermines the foundational checks and balances designed to prevent excessive administrative control. Despite bipartisan support for a resolution to repeal […]

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

US political change could expose crypto to $20T industry: Bitwise

June 5, 2024 Coin Telegraph

Bitwise

Regulatory uncertainty is holding back the $20 trillion dollar financial advisory industry from investing more in crypto, claims Bitwise investment head Matt Hougan.

The crypto space could be exposed to the trillions in the financial advisory industry once United States regulators clear up legal uncertainties, says crypto asset manager Bitwise’s investment head.

Regulatory uncertainty has been the main reason why financial advisors haven’t increased exposure to crypto over the last five years, Bitwise chief investment officer Matt Hougan wrote in a June 4 post.

Hougan thinks the U.S. is finally moving toward regulatory clarity, which could open it up to the country’s $20 trillion financial advisory industry.

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Crypto Voter Backlash: How Biden’s Veto May Have Cost Him the 2024 Election

June 2, 2024 Bitcoin.com

2024 election

After a period of intense scrutiny of the cryptocurrency industry, many speculated that the Biden administration had reversed its stance by allowing the U.S. Securities and Exchange Commission (SEC) to approve several spot ethereum exchange-traded funds (ETFs). However, President Joe Biden has vetoed the latest resolution intended to quash the SEC’s crypto asset rules in […]

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

President Biden Vetoes SEC SAB 121 Repeal Resolution

June 1, 2024 Bitcoin.com

bitcoin.com

U.S. President Joe Biden issued a veto against H.J.Res. 109, a resolution that would disapprove of the Securities and Exchange Commission’s (SEC) Staff Accounting Bulletin No. 121 (SAB 121). In its veto document, Bides states that the approval of this Republican-led resolution would “inappropriately constrain the SEC’s ability to set forth appropriate guardrails and address […]

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