# Legislation Related Articles

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France Advances Bill on Exchanging Cryptocurrency Taxation Data with 48 Countries

France is tightening oversight of cryptocurrency users by advancing legislation to join an international tax data-sharing framework. On July 17, Minister Jean-Noël Barrot presented bill No. 921 to the Senate, aiming to implement the OECD's Crypto-Asset Reporting Framework (CARF). This law would integrate CARF into French legislation, enabling the automatic exchange of detailed cryptocurrency transaction information with 48 other countries that signed the agreement in November 2024. The data shared would include user names, addresses, taxpayer IDs, residence details, and aggregate transaction amounts. This move extends France's international data exchange efforts, aligning with the upcoming EU DAC-8 directive set for 2027. The push for greater transparency comes amid rising security concerns in France, including a reported increase in violent "wrench attacks" targeting crypto holders. A recent Chainalysis report noted 30 such incidents by 2026, potentially linked to a tax official allegedly selling data on wealthy French crypto owners. These developments have alarmed the crypto community. Earlier this year, France repealed a rule requiring self-custody crypto holders to declare assets to tax authorities, as lawmakers deemed verification of such reports impossible.

cryptonews.ru3h ago

France Advances Bill on Exchanging Cryptocurrency Taxation Data with 48 Countries

cryptonews.ru3h ago

Vote on CLARITY Act in US Senate Scheduled for September 15

The U.S. Senate is scheduled to hold a key procedural cloture vote on the Digital Asset Market Clarity Act (CLARITY Act) on September 15. The motion was filed by Senate Majority Leader John Thune, aiming to advance the bill for floor consideration after lawmakers failed to reach an agreement before the August recess. The vote requires 60 votes to proceed, meaning Republican support from Democrats is necessary. The landmark crypto regulatory bill aims to establish a federal market structure for digital assets, clarify whether crypto assets qualify as securities or commodities, and delineate regulatory authority between the SEC and CFTC. However, negotiations have been stalled by disagreements over proposed ethics provisions, which would restrict government officials and their families from profiting from digital assets while in office, and rules governing stablecoin yields. To break the impasse, lawmakers are reportedly working on a bipartisan ethics amendment, partly addressing Democratic concerns about former President Trump's crypto-related financial interests. The outcome of the September 15 vote and the ability to resolve disputes over ethics and stablecoin rules before then will determine the bill's future. Passage would significantly shape U.S. digital asset regulation for years to come, though aligning SEC and CFTC operational standards post-enactment is expected to be a lengthy process.

cryptonews.ru9h ago

Vote on CLARITY Act in US Senate Scheduled for September 15

cryptonews.ru9h ago

Lummis Warns That Cryptocurrency Regulation in the US Remains Imperfect as Push for CLARITY Act Stalls

U.S. Senator Cynthia Lummis has expressed frustration over the stalled progress of the CLARITY Act, a comprehensive cryptocurrency regulatory bill. Despite over a year of negotiations and recent committee approval, a Senate vote has been delayed until September after the August recess. Lummis, a key advocate, argues that predictable federal rules are crucial for crypto businesses to operate and expand in the U.S., and are needed to protect consumers from fraud within the digital economy. The updated bill includes provisions for customer asset segregation in case of exchange bankruptcies. Lummis warns that failure to pass the legislation now could delay meaningful federal crypto regulation until 2030, leaving market participants in regulatory limbo. She vows to continue working with colleagues to advance the bill when the Senate reconvenes.

cryptonews.ru10h ago

Lummis Warns That Cryptocurrency Regulation in the US Remains Imperfect as Push for CLARITY Act Stalls

cryptonews.ru10h ago

New Details Emerge on the Clarity Act, a Cryptocurrency Bill Favorable to 'Bulls'!

Cryptojournalist Eleanor Terrett reports that U.S. Senate Majority Leader John Thune is preparing to take a new step to advance the Clarity Act, a cryptocurrency bill viewed favorably by the market ("bulls"). According to sources, Thune's office is informing crypto industry representatives that he plans to file a cloture petition to move the Clarity Act for discussion before Congress's August recess, potentially paving the way for a September vote. This move is seen as a positive signal that Republican Senate leadership intends to prioritize the bill after the break. However, the necessary votes for passage are not yet secured. Negotiators must resolve disagreements, particularly regarding revenue provisions, in the coming weeks. The revenue issue has regained prominence following recent Wall Street Journal articles, and banks are reportedly making progress in persuading some Republican senators to amend current regulations. Another key challenge for the bill's authors is crafting an ethics agreement acceptable to both parties. While the White House has not provided new comments recently, pressure on the administration for an urgent response has reportedly eased compared to earlier in the week.

cryptonews.ru16h ago

New Details Emerge on the Clarity Act, a Cryptocurrency Bill Favorable to 'Bulls'!

cryptonews.ru16h ago

Thune to file motion for September vote on CLARITY Act bill

Republican Senate Leader John Thune plans to file a cloture petition on the Digital Asset Market Clarity (CLARITY) Act before the August recess, aiming to set up a floor vote in September. This signals GOP leadership's intent to prioritize the bill after the Senate's break. However, the bill faces hurdles: the need for 60 votes, banking lobby concerns over stablecoin yields affecting local banks, and an ongoing ethics provision negotiation with the White House requiring disclosure of crypto holdings by officials. Coinbase CEO Brian Armstrong supports the bill, stating it would foster investment and innovation. Analysts note the September timeline is tight, with only 14 working days before the October recess for midterm campaigns, making passage uncertain.

cryptonews.ruYesterday 00:05

Thune to file motion for September vote on CLARITY Act bill

cryptonews.ruYesterday 00:05

US Senate pushes CLARITY Act vote to September

The US Senate will delay a vote on the CLARITY Act, a major crypto market structure bill, until at least September, as Republican leaders head into an August recess without sufficient Democratic support. Senate Majority Leader John Thune confirmed the postponement, stating the bill will be prioritized upon the chamber's return. The legislation aims to create a federal regulatory framework for digital assets and clarify oversight between the SEC and CFTC. Politico reports the bill currently lacks Democratic backing, complicating its path to the 60 votes needed to overcome a filibuster. Crypto Council for Innovation CEO Ji Hun Kim called the delay "disappointing," warning it risks pushing innovation offshore and leaving consumers unprotected. While a procedural step like filing for cloture before the recess remains possible, it would not constitute an actual vote on the bill itself.

cointelegraphYesterday 13:55

US Senate pushes CLARITY Act vote to September

cointelegraphYesterday 13:55

Crypto PACs Spent Over $1.5 Million After Losing Michigan Primary

Following a defeat in the Michigan primaries, crypto-aligned political action committees (PACs) linked to Fairshake disclosed over $1.5 million in new spending on advertising for four U.S. House and Senate campaigns in Florida, Alaska, and Wyoming. The Defend American Jobs PAC directed more than $500,000 each to support Nick Begich in Alaska's at-large House district, Republican candidate Sydney Grueters in Florida's 16th district, and Harriet Hageman in Wyoming. Separately, the Protect Progress PAC spent over $50,000 on ads for the re-election of Lois Frankel in Florida's 23rd district. Nearly all supported politicians have previously voted for crypto-related legislation like the GENIUS Act and CLARITY Act. This spending disclosure comes after Protect Progress lost a $2 million media investment in Michigan, where incumbent Democrat Shri Thanedar lost his primary. In the 2024 election cycle, Fairshake and related crypto industry PACs have spent a total exceeding $170 million on congressional races.

cryptonews.ruYesterday 13:52

Crypto PACs Spent Over $1.5 Million After Losing Michigan Primary

cryptonews.ruYesterday 13:52

Michael Saylor, known for his bold statements, emphasized: 'Bitcoin doesn't need this!'

U.S. Senate Delays Crypto Clarity Act Vote to September, Prompting Reaction from Michael Saylor The U.S. Senate has postponed the vote on the CLARITY Act, a bill aimed at regulating the cryptocurrency market, until September. Following this delay, Michael Saylor, a prominent Bitcoin advocate and founder of MicroStrategy, shared his perspective. Saylor stated via X that "Bitcoin does not need clarity. America needs clarity." He argues that Bitcoin, as the market leader, does not require specific rules for its success. However, Saylor expressed support for the bill, emphasizing the need for bipartisan cooperation to establish clear, long-term rules for the wider crypto market. Such regulations would aim to protect property rights, encourage innovation, and strengthen U.S. capital markets. The CLARITY Act seeks to define clearer regulatory boundaries between the SEC and CFTC and establish a comprehensive framework for the cryptocurrency industry.

cryptonews.ruYesterday 13:46

Michael Saylor, known for his bold statements, emphasized: 'Bitcoin doesn't need this!'

cryptonews.ruYesterday 13:46

CLARITY Act delay gives Asian financial hubs an opening: First Digital CEO

The US Senate's delay in voting on crypto market structure legislation, the CLARITY Act, before its August recess could benefit Asian financial hubs like Hong Kong and Singapore, according to First Digital CEO Vincent Chok. He argues the postponement creates prolonged uncertainty for US institutions regarding market rules, custody, and oversight, potentially giving jurisdictions with clearer regulations an advantage in attracting capital and talent. Other industry figures warn that if the legislation ultimately fails, the US could revert to unpredictable "regulation by enforcement," contrasting with the European Union's established MiCA framework. They contend this ambiguity may continue to push innovation and business activity offshore while other regions solidify their regulatory regimes.

cointelegraphYesterday 09:12

CLARITY Act delay gives Asian financial hubs an opening: First Digital CEO

cointelegraphYesterday 09:12

US Delays Passage of Cryptocurrency Market Bill CLARITY Act Until Autumn

The US Senate has delayed voting on the CLARITY Act, a major cryptocurrency market regulation bill, until after lawmakers return from their summer recess in September. Senate Majority Leader John Thune confirmed the postponement, attributing it to Democratic opposition due to the bill's potential political implications ahead of the November elections. The bill, supported by former President Donald Trump, has faced obstacles including opposition from banking lobbyists to stablecoins and controversy over Trump's own crypto ventures. Proposed amendments may now prohibit government officials and their spouses from issuing or sponsoring digital assets. Bitcoin's price showed little reaction to the delay. While the CLARITY Act is viewed as potentially highly favorable for the crypto industry, its odds of passage this year have plummeted from over 80% in February to just 14% according to prediction markets. Analysts suggest the market will continue evolving regardless, and the SEC could still implement crypto-friendly rules independently.

cryptonews.ruYesterday 09:06

US Delays Passage of Cryptocurrency Market Bill CLARITY Act Until Autumn

cryptonews.ruYesterday 09:06

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