Pro-crypto Congressman Tom Emmer is advancing an amendment aimed at depriving the United States securities regulator from using government funds to go after crypto enforcement.
On Nov. 8, Emmer attached an amendment to HR 4664 — the Financial Services and General Government Appropriations Act, or federal budget.
The amendment, which has passed unopposed, prohibits the Securities and Exchange Commission from using funds for enforcement activities related to digital asset transactions until Congress passes future legislation granting the agency jurisdiction to do so.
My amendment prohibits the SEC from using taxpayer-funded resources to pursue enforcement actions against the digital asset industry until Congress passes legislation that authorizes regulatory enforcement jurisdiction.
While the amendment has advanced, the House’s budget where it’s included will need to still face a reconciliation committee before it’s passed.
In a Nov. 8 statement, Emmer suggested the Department of Justice, the Treasury and the Treasury’s Office of Foreign Asset Control can handle “future bad actors like FTX.”
“SEC Chair Gensler cannot continue to abuse the powers of his agency to fulfill a political agenda of driving the new and promising digital asset industry offshore.”
Republican lawmakers are trying to reduce funding across all federal agencies.
On Nov. 7, Representative Tim Burchett took a swing at Gensler and others by proposing an amendment that would reduce the SEC chairman’s salary to $1. Burchett also proposed cutting the salaries of other officials who have drawn the GOP’s ire.
House Republicans are set once again to crank up their “Holman Rule” machine, this time on Financial Services Approps/HR 4664 – to reduce to $1 the salaries of the SEC Chairman, the IRS Commissioner, the head of the WH Domestic Policy Council, and… the WH Press Secretary!
With Republican Jim Johnson installed as the House speaker, digital asset legislation is also being revived in addition to Federal Budget-related matters.
Among the crypto-related bills awaiting Congressional attention are the Financial Innovation and Technology (FIT) for the 21st Century Act, the Blockchain Regulatory Certainty Act, the Clarity for Payment Stablecoins Act and the Keep Your Coins Act.
On Nov. 7, Senator Ted Budd introduced the Keep Your Coins Act — guaranteeing the right to maintain self-custody wallets — to the Senate after it passed the House Financial Services Committee in July.
The same day, The Wall Street Journal reported Deputy Treasury Secretary Wally Adeyemo urged Congress to crack down on the use of cryptocurrency for funding terrorism.
“There are places where we think Congress needs to act. We’re going to work with Congress to get more tools,” he said at the annual meeting of the Securities Industry and Financial Markets Association.
Over 100 legislators called on Joe Biden’s administration to act against cryptocurrencies’ purported role in terrorism financing in an Oct. 17 letter spearheaded by Senator Elizabeth Warren.
Volodymyr Zelenskyy has said he is “exchangeable” for Ukrainian membership of NATO, indicating he would be prepared to step down as president if his country was allowed to join the military alliance.
He also suggested he was ready to sign a minerals deal with the US that was put on hold after his heated meeting with Donald Trump in the Oval Office on Friday.
Mr Zelenskyy was speaking to reporters on Sunday evening after earlier talks with other world leaders at a London summit hosted by Sir Keir Starmer, who suggested a coalition of European allies could step up to defend Ukraine and “guarantee the peace”.
Asked by Sky News’ lead world news presenter Yalda Hakim if he could quit in the event his country becomes a NATO member, he said: “I am exchangeable for NATO.”
The Ukraine president added: “I have said that I am exchanging for NATO membership, then it means I have fulfilled my mission. NATO means I have fulfilled my mission.”
But, he continued: “To change me, it will not be easy because it is not enough to simply hold elections. You would need to prevent me from participating. And it will be a bit more difficult.”
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Mr Zelenskyy has also rebuffed US officials calling for him to resign.
His comments at Stansted Airport come after Republicans including senator Lindsay Graham and speaker Mike Johnson suggested he should step down from his position following the fiery White House exchange with President Trump.
Mr Zelenskyy spoke to journalists shortly before leaving the UK on Sunday evening.
Image: Volodymyr Zelenskyy speaking to Sky News’ Yalda Hakim
In response to a question from Yalda Hakim, Mr Zelenskyy said: “I can give [Lindsay Graham] citizenship of Ukraine and he will become a citizen of our country.
“And then his voice will start to gain weight, and I will hear him as a citizen of Ukraine on the topic of who must be the president.”
“The president of Ukraine will have to be chosen not in Lindsay Graham’s home but in Ukraine,” he added.
Image: Pic: Reuters
Mr Zelenskyy confirmed there has been communication between Ukraine and the Trump administration since the clash on Friday, but “not on my level”.
Mr Graham – a Republican senator and close Trump ally – labelled the meeting a “complete, utter disaster” at a press briefing on Friday.
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Asked whether Mr Zelenskyy should step aside, he said: “He either needs to resign or send somebody over that we can do business with, or he needs to change.”
After the London summit on Sunday, the prime minister unveiled a four-step plan discussed by leaders, including a pledge to “develop a coalition of the willing” to defend a deal in Ukraine and guarantee a peace settlement.
Sir Keir said Europe “must do the heavy lifting”, and the UK “is prepared to back this with boots on the ground and planes in the air, together with others”.
He also announced a new deal which will allow Ukraine to use £1.6bn of UK export finance to buy 5,000 more air defence missiles.
Zelenskyy’s meeting with the King
The Ukrainian president’s 90-minute sit down with the media came shortly after he wrapped up a tough week with a visit to see the King at Sandringham.
Mr Zelenskyy flew to Norfolk in a helicopter on Sunday afternoon after attending the security summit in central London.
Image: Pic: PA
People – some holding Ukraine flags – gathered outside Sandringham to try to witness his arrival. A military helicopter could be seen flying low before descending over the estate.
Pictures released after the meeting show Charles and Mr Zelenskyy shaking hands by the entrance to the royal home. The pair chatted briefly before heading inside, where they posed for more photographs.
Their meeting lasted just under an hour, Sky News understands.
Image: Pic: PA
A difficult week for Ukrainian president
Mr Zelenskyy’s difficult few days began on Friday, when his day at the White House with Mr Trump was cut short after their meeting in the Oval Office descended into a shouting match.
The pair had been due to sign a minerals deal and hold a joint press conference – but both events were called off after their tense exchange, fuelled in part by comments from vice president JD Vance.
Image: Sir Keir welcomed Mr Zelenskyy to Downing Street on Saturday. Pic: PA
As White House officials scrapped the day’s schedule, Mr Trump described the meeting as “very meaningful” in a post on his Truth Social platform.
He wrote: “I have determined that President Zelenskyy is not ready for Peace if America is involved, because he feels our involvement gives him a big advantage in negotiations.”
Meanwhile, in an interview on Fox News, the Ukrainian president said the row was “not good for both sides” and refused to apologise. Mr Zelenskyy then jetted to the UK to meet Sir Keir and other world leaders.