Search results for House Ways and Means Committee
Crypto
Tech group including Amazon, Apple and Google urges U.S. Senate to pass Clarity Act
The U.S. Consumer Technology Association (CTA), whose members include Amazon, Apple and Google, urged the U.S. Senate to quickly pass the Clarity Act, a digital asset market structure bill. Senator Cynthia Lummis publicly backed the measure, saying developers should not need lawyers to determine whether their code is legal. The bill would divide oversight between the SEC and CFTC, set standards for tokens and include protections for open-source developers and self-custody providers.
Crypto
U.S. crypto industry seeks tax exemption for mining, staking rewards; passage unclear this year
The U.S. cryptocurrency industry is urging Congress to swiftly pass a tax bill that would exclude mining and staking rewards from taxable income. Three industry groups pressed House leaders to keep the current compromise text, warning that revisions could weaken momentum. Democrats have raised concerns the measure could favor crypto over traditional assets and affect capital allocation. With election timing and uncertain bipartisan support, prospects for passage remain unclear.
Crypto
Bitcoin rebounds after breaking below $60,000; focus on AI funding shift and rate outlook
Bitcoin fell below $60,000 for the first time since last October and rebounded to around $63,000 on bargain buying. The broader crypto market slid, with heavy liquidations. Investors focused on stronger U.S. jobs data that pushed back rate-cut expectations, and on large AI-related fundraisings seen as drawing money from risk assets. Decrypt reported Strategy sold bitcoin for the first time in four years, hurting sentiment, while spot crypto ETFs saw outflows.