US Legislator Calls for Congressional Action on Encryption as Government Avoids Closure

US Legislator Calls for Congressional Action on Encryption as Government Avoids Closure

Related: Lawmakers push back on crypto provisions in infrastructure bill Toomey has previously come out in support of the U.S. government launching a central bank digital currency and said he would vote in favor of President Joe Biden’s pick for the next Federal Reserve chair, Jerome Powell. In addition, the senator was behind a bipartisan effort in August to amend some of the provisions in the recently passed infrastructure law to not apply to developers, miners and others in the crypto space. Other U.S. lawmakers have proposed solutions to the tax reporting requirements following Biden signing the bill into law, as Toomey said Congress would “have to do it in subsequent legislation.”

Though Congress has not yet acted on crypto as Toomey suggested, both the House and Senate were occupied passing a bill extending funding for the U.S. government through Feb. 18 in an effort to avoid a shutdown. President Biden signed the “Further Extending Government Funding Act” into law today. “For investors to benefit from a fair and competitive marketplace, federal agencies should answer questions about whether — and if so, how — new and emerging technologies fit under existing regulations,” said Toomey. “Chairman Gensler’s failure to provide clear rules of the road for cryptocurrencies underscores the need for Congress to act.”

The News Highlights

  • US Legislator Calls for Congressional Action on Encryption as Government Avoids Closure
  • Check the latest News news updates and information about business, finance and more.
Disclaimer: If you need to edit or update this news from compsmag then kindly contact us Learn more

For Latest News Follow us on Google News


Latest Headlines
  • Show all
  • Trending News
  • Popular By week
France asks EU to assume global minimum tax in coming weeks
France asks EU to assume global minimum tax in coming weeks
Yet some European states have raised concerns about the feasibility of implementing the global accord in 2023, while others are demanding more progress on ...
Crypto.com ends withdrawals after suspicious activity
Crypto.com ends withdrawals after suspicious activity
He later shared that his wallet had been refunded. One crypto user with nearly 350,000 Twitter followers, who posts under the handle @BENBALLER complained ...
With sales increasing in 2021, Prada talks about pent-up premium demand
With sales increasing in 2021, Prada talks about pent-up premium demand
In an unscheduled trading update, Prada said on Tuesday that group sales last year rose 41% at constant exchange rates to 3.364 billion euros ($3.83 ...
COVID cases double in UNK last week |  local news
COVID cases double in UNK last week | local news
All UNK students, faculty, staff and visitors are required to wear a mask that covers the nose and mouth inside classrooms, labs and ...
As part of the acquisition, Activision Blizzard games will be included to Xbox Game Pass
As part of the acquisition, Activision Blizzard games will be included to Xbox Game Pass
“Upon close , we will offer as many Activision Blizzard games as we can within Xbox Game Pass and PC Game Pass, both new titles and games from Activision ...
Nazara Technologies obtains majority stake in Datawrkz for Rs 124 cr
Nazara Technologies obtains majority stake in Datawrkz for Rs 124 cr
The Board has approved the strategic investment by the acquisition of 37,498 equity shares – representing 55 per cent of the equity share capital, on a fully ...
Bartomeu blames Laporta for Barcelona's poor financial management
Baystate News: Vaccination Mandates (Radio)
– Larry Edelman of the Boston Globe on the state’s efforts to claw back unemployment money paid in error (40:44) – Boston News Journal money and law reporter ...
The Legend Of Zelda DLC Has Been Recreated By The Sonic Lost World PC Mod
The Legend Of Zelda DLC Has Been Recreated By The Sonic Lost World PC Mod
It was quite a big deal back in 2014 with the quirky free content referencing The Legend of Zelda: Skyward Sword. It had a wonky camera and was very short, ...
Cloud Versions of Kingdom Hearts 3 will be available in February
Cloud Versions of Kingdom Hearts 3 will be available in February
I found this entire game quite impressive. For something with a goofball camera like this to nevertheless remain a compelling action-RPG requires some ...
According to reports, the Galaxy A53 5G will come with a 15W charger
According to reports, the Galaxy A53 5G will come with a 15W charger
Last year, Samsung shipped the phone’s predecessor, the Galaxy A52, with a 15W charger in the box, but the phone supports 25W fast charging, and based on ...
Show next
We will be happy to hear your thoughts

Leave a reply

Compsmag - Latest News In Tech and Business
Logo