A month out from the election, and polling (and recent headlines) suggest that Democrats are currently on the upswing. A consensus poll on the site 270towin suggests that Democrats will flip the House of Representatives, but that it’s hard to tell where the Senate may land. For what it’s worth, as of 5:00 p.m. ET […]

U.S. dollar-pegged stablecoin Tether is a go-to tool for the Iranian government to bypass sanctions, a new report from a group of Senate Democrats said. Democrats on the Senate’s Homeland Security and Governmental Affairs Committee’s Permanent Subcommittee on Intelligence published a report Monday laying out the argument that Tether USDT$1.0000 plays a key role in […]

The Digital Asset Market Clarity Act was always doomed to fail. The bill faced an uphill battle from launch; numerous political, policy and social factors would have needed to fall into place for it to succeed. In the end, a variety of issues combined to continually decrease the odds of its passage over the past […]

States have tried to wrangle prediction markets offering sports-related contracts under their regulatory frameworks since they started taking off after the 2024 election, arguing that these markets are competing with state gambling platforms and offering identical products to gambling sites and apps. For many states, the issue is that federally regulated platforms do not pay […]

The bill itself was a bipartisan product which grew from some 300 pages to over 600, she said, after Democrats asked for provisions addressing issues like bankruptcy protections, among other items. “Every single Democrat voted no, every single one. I see some of the spin post-vote blaming it on Brian Armstrong … or blaming it […]

Earlier this month, as it became clear that the Digital Asset Market Clarity Act would not receive a vote prior to the Senate’s August recess, industry participants suggested that if Congress didn’t act, regulators could. It wouldn’t be exactly the same; regulators’ actions could be challenged in court and will be easier to undo by […]

A federal bank regulator has granted World Liberty Trust Co. a conditional bank charter, it announced Friday. The Office of the Comptroller of the Currency, the U.S. banking agency that grants federal charters, said in a letter posted to its website that World Liberty could operate fiduciary and other trust company-related activities as a national […]

“New York intends to make event contract derivatives waste away under its iron curtain of state gaming laws before the courts get the chance to issue final rulings,” he said. “These are financial exchanges that offer financial instruments and operate across state lines. They match the bid from a resident of one state with the […]

But there are other outstanding issues. Law enforcement provisions are still being debated, some agriculture-related issues are being worked out, and recently, a growing number of lawmakers have expressed concerns about stablecoin yield and rewards. These issues mean that if a vote were held, it very well may have failed. The GENIUS Act fell short […]

But many of the issues holding the bill up are now political, rather than strictly about the language in the legislation. Lawmakers have come to agreements on the vast majority of their outstanding issues on the bill, which saw independent approvals from the Senate Banking Committee and Agriculture Committee. The biggest remaining issue was an […]