Harris highlighted the "borderless nature" of the crypto market, suggesting that a passporting system - where companies regulated in one jurisdiction can operate in another without undergoing a full authorization process - could enhance investor protection, reduce compliance costs, and improve market interoperability.
One of crypto's largest, and most controversial, companies is coming to the U.S. On Friday, at an event hosted at a spy museum in New York City, the stablecoin issuer Tether announced that it was launching a U.S. stablecoin called USAT, a stunning reversal for an operation that just last year appeared to be in the crosshairs of U.S. law enforcement officials.
Are lawyers at heightened risk of developing a gambling addiction? I've got 2 bills on "no," who wants in on that action? [ ABA Journal] SEC and CFTC look to crypto regulation, which will come to a halt once they learn what Trumpcoin is. [ Law360] Trump's handling of federal workers puts him on collision course with limits of legal authority. [ Bloomberg Law News]
Andreessen Horowitz' plan to push its agenda in Washington shows no sign of slowing down, with the firm reporting $1.49 million in federal lobbying so far this year, according to lobbying records filed with Congress. A16z is even narrowly outspending its own industry trade group, the National Venture Capital Association. The pace of lobbying appears to be accelerating from last year, according to a TechCrunch review of lobbying disclosures. A16z spent $1.8 million on lobbying in all of 2024 and $950,000 in 2023.
In his opening remarks, Senator Scott emphasized that more illegal activities occur with cash than with crypto, suggesting that cash carries greater risks for illicit finance.
