Tag: US Congress

Rep. Ashley Hinson Pushes Prediction Market Ban for US House Members, Staff – Bloomberg

Rep. Ashley Hinson (R-Iowa) introduced a resolution Thursday that would amend the House rules to ban members and their staff from trading on prediction markets.

“No Member, Delegate, Resident Commissioner, officer, or employee of the House of Representatives” may engage in purchasing or selling on prediction markets, the resolution says, referring to agreements or contracts that are dependent on the occurrence of specific events.

Hinson’s proposal mirrors one approved by unanimous consent in the Senate last week, in which senators agreed to amend the chamber’s standing rules to ban senators and staff from engaging in prediction markets. It also has similar language to an amendment that was added to the Senate resolution making clear it does not apply to insurance.

Source: Rep. Ashley Hinson Pushes Prediction Market Ban for US House Members, Staff – Bloomberg

Senators Query SEC on Crypto After Enforcement Head Quits – Bloomberg

Two US Senators want Securities and Exchange Commission Chairman Paul Atkins to explain the sudden resignation of its enforcement director and whether her departure was related to cryptocurrency cases, including one touching on the Trump family’s ventures.

Richard Blumenthal, a Connecticut Democrat, sent a letter Monday seeking records related to the SEC’s cases against cryptocurrency companies and communications with top agency officials and ex-enforcement director Margaret “Meg” Ryan. Ryan quit on March 16 after slightly more than six months on the job.

“Ms. Ryan’s abrupt departure from the agency raises questions in light of her short tenure and reports that senior leadership intervened to prohibit the Division of Enforcement from pursuing cases against certain cryptocurrency companies,” he wrote, citing reporting from Reuters.

Source: Senators Query SEC on Crypto After Enforcement Head Quits – Bloomberg

US Lawmaker Blasts SEC Crypto Overhaul—Bulls See Regulatory Reset Powering the Next Rally – Regulation Bitcoin News

Congresswoman Maxine Waters, the top Democrat on the House Financial Services Committee, shared on Feb. 11 concerns about the direction of the U.S. Securities and Exchange Commission (SEC), including its oversight of digital assets, during a full committee hearing focused on the agency. Addressing SEC Chair Paul Atkins directly, she stated: “You and I have a very different understanding about…

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Former SEC Enforcement Chief Warns Congress Of ‘Regulation By Enforcement,’ Urges Guardrails

A former senior Securities and Exchange Commission enforcement official told lawmakers Tuesday that the agency has “lost its way” on fairness in recent years and must adopt formal internal safeguards to prevent enforcement actions from substituting for rulemaking. Testifying before the House Financial Services Subcommittee on Capital Markets, Peter Chan, now a partner at the global law firm Baker McKenzie,…

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GOP Lawmakers Back Stock-Trading Crackdown – WSJ

House Republicans including GOP leaders are lining up behind a stock-trading crackdown that they think is their best shot at addressing long simmering concerns about lawmakers potentially profiting off insider information. Rep. Bryan Steil (R., Wis.), chairman of the Committee on House Administration, took the lead on drafting the bill that would prevent House and Senate lawmakers from buying additional…

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Bipartisan House Stock Trading Ban Teed Up For Recess Return

Members of Congress and their spouses would be banned from trading stocks under a bipartisan plan set to be rolled out almost immediately after lawmakers return to Washington in September. The proposed legislation, in its current form, would block members of Congress and their spouses from trading stocks, a person with direct knowledge of the legislative text told Bloomberg Government.…

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Lawmakers Traded Stocks Heavily as Trump Rolled Out ‘Liberation Day’ Tariffs – WSJ

As markets tanked in the wake of President Trump’s “Liberation Day” tariffs in early April, members of Congress and their families made hundreds of stock trades, shining a spotlight on a controversial practice that some lawmakers have pushed to ban. From April 2, when Trump launched the sweeping tariffs, to April 8, the day before he paused many of them,…

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GOP Senators Map Path to Curb Agency Clout After Chevron’s Death

Conservative senators plan to coach their staffs on how to write detail-packed legislation after last year’s US Supreme Court decision curbing agency authority to interpret unclear laws. A 150-page report by the Post-Chevron Working Group, shared first with Bloomberg Government, outlines Republicans’ plans to seize on the justices’ Loper Bright Enterprises v. Raimondo opinion to strengthen Congress’s ability to mold…

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Trump Says He Would Sign Bill Banning Congressional Stock Trades: Time Interview – Bloomberg

President Donald Trump said he would “absolutely” sign a bill banning congressional stock trading, saying he was concerned lawmakers could be using insider information for an advantage. “I would be okay with it,” Trump said in an interview with Time Magazine that published Friday. “If they send that to me, I would do it.” There has long been some bipartisan…

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Could a stock trading ban for Congress get new life in the Trump era? – Roll Call

It’s a rosy take on an issue that has withered repeatedly in Congress, even as polling shows it has overwhelming public support. The call to ban members from trading or owning individual stocks — and to address the perception of insider trading — has grown louder since the COVID-19 pandemic, when lawmakers made a series of dubious trades that prompted…

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