Pat Toomey


Policy

Sen. Toomey Sounds Warning About China’s Digital Yuan as Olympics Start

The country is using the Winter Olympics in Beijing as an international test of its central bank digital currency (CBDC).

Sen. Pat Toomey (R-Pa.)

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a16z Recommends US Regulate Crypto With Decentralization in Mind

Venture capital firm Andreessen Horowitz (a16z) has suggested four areas where the U.S. government can govern crypto and blockchain technology.

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Videos

Sen. Pat Toomey Calls for Public Input on Crypto Legislation

CoinDesk's Nikhilesh De discusses his assessment of Sen. Pat Toomey (R-Pa.) seeking public input on addressing how cryptocurrencies should be regulated. Plus, his take on the possible outcomes from Fed Chair Jerome Powell speaking Friday about his expectations for the economy at the Jackson Hole Symposium and the latest with the bipartisan infrastructure bill.

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Senators Propose Crypto Tax Exemptions Amendment for $1T Infrastructure Bill

Senators Ron Wyden (D-Ore.), Cynthia Lummis (R-Wyo.), and Pat Toomey (R-Penn.) are proposing an amendment to the $1 trillion bipartisan infrastructure bill that will exempt bitcoin miners and other validators from the crypto tax reporting provision. Kristin Smith, the executive director of the Blockchain Association, discusses the specifics and potential impact of this amendment and what it means for industries outside the crypto world.

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Markets

Crypto Tax Exemptions Floated for $1T US Senate Bill

The carve-out would allow for miners, developers and node operators to be exempt from broker tax reporting purposes.

Sen. Cynthia Lummis helped draft an amendment to a controversial tax provision in the infrastructure bill.

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Report: SEC's Gensler Eyeing Robust Regulation of Crypto Market

CoinDesk's Nikhilesh De discusses what to expect from SEC Chair Gary Gensler's remarks about crypto at the Aspen Security Forum Tuesday as he eyes more crypto oversight to protect investors. Plus, the latest details swirling around the bipartisan infrastructure bill's proposed crypto tax reporting clauses, including Sen. Pat Toomey's pledge to amend them.

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Markets

Senator Toomey Calls Text of Current Crypto Tax Proposal ‘Unworkable’

The Pennsylvania Republican said the definition of a broker is too broad and would affect bitcoin miners, which should be exempt.

Sen. Pat Toomey (R-Pa.)

Policy

Senate Banking Committee Bashes Bitcoin's 'Phony' Populism

The hearing was almost certainly the testiest in a trio of crypto-themed inquiries Tuesday morning.

Sen. Sherrod Brown (D-Ohio), chairman of the U.S. Senate Banking Committee.

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Sen. Toomey: Regulators Should Not Impede the Development of Crypto

Pennsylvania Sen. Pat Toomey discusses the concerns over burdensome crypto regulations and the need for continued development of private digital currencies. “From a policymaker’s point of view, I want to make sure that we don’t impede the development of this really exciting, new category of innovation,” Toomey said. Plus, crypto investments and digital dollar.

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