Sen. Richard Blumenthal has launched a formal Senate Homeland Security Committee investigation into Binance after reports the exchange allegedly facilitated $1.7 billion in crypto transfers to Iranian entities tied to terrorism. The probe targets Binance's Hong Kong operations and requests internal records and communications.
Sen. Mark Warner urged passage of a market-structure crypto bill Thursday, saying Congress should act to create lasting rules. SEC chief Paul Atkins warned that failure could leave regulatory gaps and heighten risks for markets and investors.
Treasury Chief Scott Bessent urged crypto actors who reject regulatory clarity to leave the U.S. for places like El Salvador, and reiterated banking lobby worries about a pending bill during Senate testimony Thursday.
The Senate Agriculture Committee approved its version of a crypto market-structure bill on Thursday in a party-line vote, advancing legislation that centers market oversight with the CFTC. The move clears a key committee hurdle and pushes the measure closer to Senate floor consideration.
The White House will mediate talks to resolve a standoff between banks and crypto firms over how stablecoin rewards should be treated, a dispute that has stalled a Senate crypto bill. The outcome could determine whether Congress advances comprehensive market-structure reforms for digital assets.
U.S. senators are preparing to consider amendments to a crypto market structure bill that would affect the Commodity Futures Trading Commission and other regulatory aspects after the agency was left with only one Senate‑confirmed commissioner.
Coinbase’s VP of U.S. Policy Kara Calvert said “fatal flaws” discovered hours before a scheduled Senate markup led the company to withdraw support for the crypto bill. The sudden reversal could complicate efforts to deliver clearer U.S. rules for digital assets.
A Senate push for comprehensive crypto legislation has been paused after Coinbase withdrew its backing, stalling momentum. Lawmakers say floor action is unlikely for several weeks as sponsors regroup.
The Senate Agriculture Committee will publish its crypto bill text today ahead of a Jan. 27 markup, proposing a split in oversight between the CFTC and SEC that departs from the Senate Banking Committee's approach. The move sets up a fresh jurisdictional fight over digital-asset regulation.
Democratic negotiators have reentered discussions on a U.S. crypto market-structure bill but say the details of their talks will remain confidential. Their return signals renewed momentum for legislation that could shape regulation and market oversight.