We have all read the articles about how physical cash is pretty gross. This has been a well-known fact for years. A study from 20 years ago on the bacterial contamination of paper currency showed that 94% of dollar bills tested carried many pathogens including… Read More
Congressman Patrick McHenry, the ranking member on the House Financial Services Committee, has posted an update regarding several leadership positions including the new Task Force on Fintech and Task Force on Artificial Intelligence. The following Representatives are now taking the designated leadership roles: Ranking Member… Read More
Two US lawmakers have asked the Federal Reserve to consider issuing a digital version of the US dollar (or Central Bank Digital Currency – CBDC). Rep. Bill Foster (D-III.) and Rep. French Hill (R-Ark.) have submitted a letter to Federal Reserve Chairman Jerome Powell in… Read More
It is almost inevitable that topics regarding Fintech surface in Congressional hearings that address the financial services industry. This week’s hearings involving the House Financial Services Committee and Federal Reserve Chairman Jay Powell were no different and some of the questionings went beyond payments. There… Read More
Representatives from Wall Street and prominent US crypto investment/services firms are convening in Washington this week to attend a legislative roundtable hosted by Republican Representative Warren Davidson of Ohio, CNBC reports. Attendees at the roundtable, titled “Legislating Certainty for Cryptocurrencies,” are reportedly hoping to influence… Read More
The current definition of an accredited investor is a profound act of disenfranchisement. Policy makers decision to segregate investors based solely on how much money they have is a myopic, discriminatory act of rulemaking. The punitive definition of an accredited investor has been in place… Read More
A new Bill (H.R. 4831) was recently introduced by Representative J. French Hill which looks to amend the rules of the Internal Revenue Code of 1986 (the “Code”) concerning “subchapter S” qualified corporations (“S Corps”), and the limited number of permitted S Corp shareholders, to… Read More
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