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Sen. Cruz Applauds Signing of Cryptocurrency Resolution into Law | U.S. Senator Ted Cruz of Texas

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11 months ago

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Sen. Cruz Applauds Signing of Cryptocurrency Resolution into Law | U.S. Senator Ted Cruz of Texas

WASHINGTON, D.C. – U.S. Sen. Ted Cruz (R-Texas) released a statement following President Trump signing his Congressional Review Act (CRA) resolution regarding Decentralized Finance (DeFi). This resolution overturns an Internal Revenue Service (IRS) rule on cryptocurrency that would have defined certain developers as “brokers” for reporting and taxation. 

Upon the CRA being signed into law, Sen. Cruz said, “This rule would have undermined American leadership on cryptocurrency and I am grateful to President Trump for signing my resolution into law. The resolution is a victory for innovation, privacy, and economic freedom. We are protecting the developers who are building the future of cryptocurrency, making clear that the United States will not cede digital leadership to China, and preserving the ability of Americans to conduct transactions without government interference.”

Sen. Cruz is the leader in the U.S. Senate on advancing cryptocurrency.

  • Sen. Cruz introduced the Facilitate Lower Atmospheric Released Emissions (FLARE) Act, incentivizing entrepreneurs and crypto miners to use natural gas that would otherwise be stranded.

  • Sen. Cruz introduced the Anti-CBDC Surveillance State Act, legislation that prohibits the Federal Reserve from issuing a central bank digital currency (CBDC). This bill passed with overwhelming bipartisan support.

  • Sen. Cruz previously introduced legislation in 2022 and 2023 to prohibit the Federal Reserve from developing a direct-to-consumer central bank digital currency, which could be used as a financial surveillance tool by the federal government.

  • Sen. Cruz authored the Adopting Cryptocurrency in Congress as an Exchange of Payment for Transactions Resolution, also known as the ACCEPT Resolution.

  • Sen. Cruz introduced an amendment to repeal a provision from the 2021 infrastructure package that created new reporting requirements for many cryptocurrency and blockchain companies in both the 117th and 118th Congresses.

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Crypto

Millions of dollars in crypto left Iranian exchanges after strikes, researchers say

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3 hours ago

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March 3, 2026

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Millions of dollars in crypto left Iranian exchanges after strikes, researchers say
Outflows from Iranian crypto exchanges spiked in the hours after the U.S. and Israeli ‌strikes on Iran on Saturday, two blockchain analytics companies said, although researchers added it was not possible to be certain what was behind the moves.
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Crypto

Wisconsin lawmakers crack down on cryptocurrency scams

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15 hours ago

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March 3, 2026

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Wisconsin lawmakers crack down on cryptocurrency scams

MADISON, WI (WTAQ) — A new bipartisan bill is the state legislature is attempting to keep Wisconsinites safe from scammers.

Assembly Bill 968 creates consumer protections around cryptocurrency kiosks—and is aimed at stopping criminals from using crypto-kiosks to steal from victims. It was passed by the assembly last month and is now heading to the senate.

Americans lost over $330 million to scams involving crypto-kiosks in 2025.

As amended; the bill that passed the assembly would:

  • set daily transaction limits at $1,000
  • require cryptocurrency-kiosk operators to provide users with receipts
  • implement consumer-identification measures for every transaction
  • allow scam victims to receive refunds

“This also requires crypto-kiosk operators to be licensed as a money transmitter with the Department of Financial Institutions,” said bill co-author Representative Dean Kaufert (R-Neenah). “Right now there is no state statute with regards to these crypto machines, and there has to be some oversight.”

Over 700 cryptocurrency kiosks are located in convenience stores, gas stations, restaurants, and other locations throughout Wisconsin.

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Detective Kevin Bahl with the Green Bay Police Department says although these scams don’t discriminate, scammers usually target the senior population.

“That’s because they’re the ones with more of the built up funds; that they can lose a significant of money, but we have seen a lot of younger victims too,” said Det. Bahl. “Victims are losing anywhere between a couple thousand dollars, all the way up to hundreds of thousands of dollars.”

The senate will reconvene beginning the second week of March, where Rep. Kaufert believes they will pass Senate Bill 975. Then the bill will go to the governor for approval by April 1. If approved, the law would likely go into effect around June.

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Crypto

HSBC Says Lasting Iran Conflict Would Boost Oil, Gold, USD and Hurt Equities

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1 day ago

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March 2, 2026

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HSBC Says Lasting Iran Conflict Would Boost Oil, Gold, USD and Hurt Equities
Rising Iran conflict risks are jolting global markets, with HSBC warning oil shocks, currency swings, and equity volatility hinge on whether supply routes and production are disrupted, shaping inflation expectations and investor risk appetite worldwide. HSBC: Long-Running Conflict Would Reshape FX, Rates, and Equity Leadership Escalating geopolitical tensions are reshaping the global market outlook. Global […]
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