Jerry Brito

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New Stablecoin Bill Faces Criticism for Stifling Innovation and Breaching First Amendment 

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A new bill co-sponsored by Senators Cynthia Lummis and Kirsten Gillibrand, aimed at regulating stablecoins, has drawn criticism for potentially stifling innovation and breaching First Amendment rights. The bill includes a provision that bans all “algorithmic payment stablecoins,” which could have significant implications for software developers and the broader tech community. Lummis-Gillibrand Stablecoin Bill Criticized … Read more

Coin Center Sues US Treasury Over Tornado Cash Ban — Lawsuit Says Government’s Action ‘Was Unlawful’

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The non-profit that focuses on policy issues facing cryptocurrencies, Coin Center, has filed a lawsuit against the Treasury department, the secretary of the Treasury Janet Yellen, and the Office of Foreign Assets Control’s (OFAC) director Andrea Gacki. Coin Center’s court filing says that the government’s sanctioning of Tornado Cash exceeds the Treasury’s statutory authority. The … Read more

Coin Center Says OFAC’s Tornado Cash Ban ‘Exceeds Statutory Authority,’ Plans to ‘Engage’ With US Watchdog

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On August 15, the non-profit that focuses on policy issues facing crypto assets, Coin Center, published a blog post that says the organization is looking at the legality of the recent Tornado Cash sanctions enforced by the U.S. Treasury Department’s Office of Foreign Asset Control (OFAC). The post, published by Coin Center’s Jerry Brito and … Read more

US Unveils Bill Giving Treasury Secretary ‘Unchecked and Unilateral Power’ to Ban Crypto Transactions, Advocate Warns

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A new bill introduced in the U.S. has a provision that “would essentially give the Treasury Secretary unchecked and unilateral power” to ban cryptocurrency transactions, warned crypto advocacy organization Coin Center. Treasury Secretary Janet Yellen will be able to prohibit any crypto transactions “without any process, rulemaking, or limitation on the duration of the prohibition.” … Read more

US Copyright Office Responds to Craig Wright’s Bitcoin Registrations

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On May 21, 2019, a press release was sent to a variety of publications that said Craig Wright was granted two U.S. copyrights for the original Bitcoin white paper and version 0.1 of the cryptocurrency’s code. Meanwhile, the U.S. Copyright Office specifically addressed the matter in a press release which emphasized the agency “does not … Read more

SEC Chairman Confirms Cryptocurrencies Like Ethereum Are Not Securities

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On March 12, the cryptocurrency and blockchain legislative advocacy group Coincenter published correspondence between the Securities and Exchange Commission (SEC) chairman Jay Clayton and representative Ted Budd. The letter explains that Clayton and the SEC’s staff analysis confirms that Ethereum and similar cryptocurrencies are not subject to securities laws. Also read: Cointext Adds the Ability … Read more

Doing a 180 – Goldman Sachs Goes Crypto

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The Year of Bitcoin continues to get more interesting, as reports surfaced today that legacy bank Goldman Sachs will open a cryptocurrency trading desk by mid 2018. It’s a momentous occasion for many reasons, but not least of which is the  influence the bank carries in terms of respect within the industry.  Also read: Championing … Read more