Republican Senator and Bitcoin proponent Cynthia Lummis said that massive government spending is accelerating crypto adoption. Lummis made the comments while sharing an interview she did with “Varney & Co” on the Fox Business cable network on July 29, in which she called for a crypto regulatory sandbox and support to attract Bitcoin miners to set up in US states. On Twitter she stated that “big gov’t spenders are (accidentally) doing far more to accelerate the adoption of digital assets than I am,” and asserted that the debasement of the U.S. dollar is driving citizens to store value in digital …

Rich Checkan, president of Asset Strategies International (ASI), has described central bank digital currencies (CBDC) as a product that was “concocted in hell by Satan himself.” ASI was founded in 1982 and deals in alternative assets, such as precious metals, foreign currencies and pre-1933 United States gold coins, and offers a precious metals trading platform. Speaking during an interview with streaming financial news provider Kitco News on Tuesday, Checkan slammed CBDCs due to the threat they posed to individual privacy, noting they give the state the ability to monitor every transaction you make and track your entire life. “I think …

The United States Securities and Exchange Commission may soon issue new rules for the regulation and registration of security-based swaps, including cryptocurrency. In a speech to the American Bar Association Derivative and Futures Law Committee, SEC Chairman Gary Gensler laid out the changes coming to security-based swaps over the next year. The changes are designed to increase transparency and reduce risk to the market. The new requirements that will go into effect in November include new counterparty protections, requirements for capital and margin, internal risk management, supervision and chief compliance officers, trade acknowledgement and confirmation, and recordkeeping and reporting procedures. …

MicroStrategy CEO Michael Saylor thinks that Bitcoin (BTC) is more like digital property than digital currency. He was speaking on the July 15 edition of the Coin Stories podcast with host Natalie Brunell. Asked if he thought that Bitcoin was a threat to the United States dollar, Saylor replied: “I would call it a digital property; it’s a threat to property; it’s particularly a threat to other forms of property. Gold is property; real estate is property. I don’t think the United States government is threatened by real estate or buildings or companies or gold.” The comments follow on from …

The U.S. Department of State has announced it will be taking a seemingly more active role in the pursuit of keeping some crypto users accountable. According to a Thursday Bloomberg report, the Biden administration intends to ramp up efforts to trace cryptocurrency payments, particularly when it comes to ransomware attacks. The government plans to address cybersecurity and crypto’s role as payment in such attacks. The report comes as the State Department recently announced its Rewards for Justice program would be offering bounties of up to $10 million for assistance in identifying actors responsible for cyberattacks on critical infrastructure in the …

Janice McAfee, the widow of antivirus pioneer John McAfee, says that she can’t “accept the suicide story” relating to the death of her husband until an investigation has been completed. In a Wednesday Twitter post, McAfee noted that she is still in shock as she expressed her disbelief that the 75-year-old would kill himself because of looming extradition to the United States to face charges of tax evasion and the possibility of life in prison. The outspoken crypto proponent was found dead in his jail cell within hours of a Spanish court ordering his extradition to the U.S. on June …

News of two contrasting approaches to crypto from U.S. members of congress surfaced this week. Alabama Rep. Barry Moore has been loading up on cryptocurrencies such as Ether (ETH), Cardano's ADA and Dogecoin (DOGE) over the past two months. Meanwhile, anti-crypto California Rep. Brad Sherman — whose stated aim is to shut crypto down — has reportedly received more than $100,000 in campaign donations from top financial firms. According to Friday's trading disclosures filed with the clerk of the House of Representatives, Moore purchased ETH on May 5, he bought ADA on May 10, 11, 13, and bought DOGE on …

U.S. Senator and Bitcoin proponent, Cynthia Lummis, would like to see U.S. residents turn to Bitcoin as part of a diversified strategy for their retirement plans. Speaking during the CNBC Financial Advisor Summit on June 29, Senator Lummis stated she would like to see Bitcoin and other crypto-assets become a normal part of diversified asset allocations used for retirement funds in order to protect the from inflation. “I’d also like to see individuals be able to use Bitcoin and cryptocurrencies of their preference that are safe, that have met the hurdles of anti-money laundering and Bank Secrecy Act,” she added. …

Bill Foster, Democratic Representative and co-chair of the Congressional blockchain caucus, has called for a regulatory framework that would enable third parties to reverse fraudulent or criminal transactions. Foster is a physicist and a Democratic Rep for Illinois. The blockchain caucus is co-chaired by Democratic Rep Darren Soto, and Republican Reps Tom Emmer and David Schweikert. Speaking during an online event for news outlet Axios, Foster asserted that unless the Congress or the public can come up with a different solution to ransomware, U.S. regulators need to introduce a legal framework that can “unmask” crypto wallet holders’ identities and reverse …

A bipartisan bill that requires the study of blockchain technology and digital tokens passed the House of Representatives on June 22. The “Consumer Safety Technology Act'' is centered on consumer protection and includes digital token and blockchain research. The bill passed the 117th Congress within a week of its introduction, with a resounding 325 votes in favor of, and 103 votes against. This is not the first time this bill has reached this point however, and under the Trump administration, the bill passed the House in September 2020. It was then referred to the Committee on Commerce, Science, and Transportation …

The U.S. Securities and Exchange Commision (SEC) has warned investors about the risks of Bitcoin futures trading — citing market volatility, a lack of regulation and fraud to name a few issues. In a June 10 Investor Alerts bulletin, the SEC outlines key points that investors should “carefully consider” before investing in a fund that buys or sells Bitcoin futures. “Investors should understand that Bitcoin, including gaining exposure through the Bitcoin futures market, is a highly speculative investment,” the bulletin read. This latest Bitcoin-related risk warning from the SEC follows up on a note it sent out last month, warning …

Democratic Senator Elizabeth Warren did not mince words when it came to criticizing crypto, but seemed to consider a federally-backed digital currency as a possible solution to address problems around financial inclusion in the United States. At a Wednesday session of the Senate Banking Committee discussing a U.S. government-backed central bank digital currency, or CBDC, Warren said the recent explosion in cryptocurrencies had helped many people understand the foundational technology on which digital currencies were based. However, she called crypto a “fourth rate alternative to real currency.” “Digital currency from central banks has great promise,” said Warren. "Legitimate digital public …