ChainCatcher news, U.S. Senator Hagerty stated that he will support Trump's nominee for Secretary of Defense, Hegseth.

ChainCatcher news, in a recent debate, Massachusetts Senator Elizabeth Warren criticized lawyer John Deaton, claiming that 90% of his campaign funding comes from cryptocurrency, and accused him of having 100% loyalty to cryptocurrency in Washington, implying that this is a corrupt practice.Warren reiterated her concerns about the association of cryptocurrency with illegal activities and called for increased regulation. Multiple polls show that Warren is leading Deaton by about 20 percentage points ahead of the November election, with early voting set to begin on October 19.

ChainCatcher news, U.S. Senator Bill Hagerty, who supports cryptocurrency, has released a legislative discussion draft aimed at creating a regulatory framework for stablecoins, which is very similar to the ongoing work in the House of Representatives. Republican Hagerty stated in a press release on Thursday that his legislative draft "provides much-needed regulatory clarity." The draft is very close to the "Clarity for Payment Stablecoins Act" drafted in the House by Republican Congressman Patrick McHenry and Democrat Maxine Waters.Hagerty's draft adopts the structure of the House bill while dividing federal regulation into the Federal Reserve's oversight of banks and the Office of the Comptroller of the Currency's oversight of non-bank entities. The draft will include a provision that issuers exceeding a $10 billion threshold may receive exemptions from federal regulators and continue to be governed by their respective states. The legislative draft also includes maintaining dollar-denominated foreign exchange reserves on a one-to-one basis.

ChainCatcher news, according to Cryptoslate, U.S. Senator Cynthia Lummis from Wyoming believes that SEC Chairman Gary Gensler may resign from his position at the regulatory agency next year. She made the remarks on CNBC's Squawk Box on September 27, in response to the host stating that Gensler "loves this job" and does not want to leave it. She added, "I don't believe that will happen, especially if Trump is elected president." However, she also stated that she could not confirm if the same would be true if Vice President Kamala Harris were elected.Additionally, Lummis stated that Gensler does not "fully recognize" that Bitcoin and Ethereum are commodities. Lummis further indicated that other cryptocurrencies may be commodities, but did not specify: "We need to have a clear definition. We can use the Howey test, and as it gets updated, there may be other assets besides Bitcoin and Ethereum that qualify for the jurisdiction of the Commodity Futures Trading Commission."It is worth noting that Gensler reiterated on September 26 during his appearance on Squawk Box that the SEC views Bitcoin as a commodity. However, during the congressional hearing on September 24, he did not comment on the status of Ethereum.

ChainCatcher news, according to FOX Business, U.S. Senator Tim Scott criticized SEC Chairman Gary Gensler for delaying the scheduled Senate Banking Committee hearing.Scott stated that Gensler's regulatory agenda is detrimental to the U.S. economy, increasing burdens on businesses, reducing opportunities for capital acquisition, and harming the interests of American retirement savers. Republican lawmakers have introduced the Empowering Main Street in America Act, which requires the SEC chairman to testify before Congress twice a year to enhance transparency and accountability.

ChainCatcher news, many investors and some economists are concerned that the Federal Reserve has waited too long, putting the labor market and economic growth on thin ice, and injecting volatility into the financial markets. The latter was evident in last Friday's U.S. Treasury market, when traders suddenly resumed bets on a 50 basis point rate cut. The presidential election in November has also put the Federal Reserve's decision-making in an uncomfortable position. Republican candidate and former President Trump warned that the Federal Reserve should not cut rates before the election, while Democratic Senator Elizabeth Warren pressured officials to lower rates by 75 basis points.

ChainCatcher news, according to Fox reporter Eleanor Terrett, Senator Chuck Schumer sent a letter to his Senate colleagues mentioning the priorities for bipartisan legislation in the remaining months of Congress. Cryptocurrency legislation was not mentioned, but artificial intelligence was listed as a priority. This contrasts with his assertion during the Crypto4Harris town hall that cryptocurrency legislation would be an urgent priority.

ChainCatcher news, according to Bitcoin Magazine on the X platform, U.S. Senator Cynthia Lummis stated that her "Bitcoin Strategic Reserve" bill is "the only viable solution that can reduce the national debt of the United States by half by 2045."

ChainCatcher news, according to CoinDesk, U.S. Senator Cynthia Lummis stated on Wednesday that the window for cryptocurrency legislation in 2024 is closing, but there is still a possibility of passing some bills this year.During a brief appearance at SALT, Lummis and Scott also called on voters, stating that Republicans are more supportive of the interests of the cryptocurrency industry than Democrats. Scott, the top Republican on the Senate Banking Committee, has rarely spoken out on cryptocurrency during his tenure as a senior member of the committee. However, at last month's Bitcoin Nashville conference, he called for more lenient regulators and stated that he would support crypto-friendly legislation.If control of the Senate falls into Republican hands, Scott would become the chairman. On Wednesday, he suggested that if he were to hold that position, there could be a subcommittee focused on digital assets, "so we can make the dialogue clearer, hold more hearings on the banking industry, and get our work done faster. We will go further and faster in a shorter amount of time."

ChainCatcher News, U.S. Senator Vivek Ramaswamy expects Kamala Harris to embrace Bitcoin and the crypto industry.Ramaswamy said: "I think this is a good thing for the country... this shouldn't be a partisan issue."

ChainCatcher news, according to The Washington Post, U.S. Senator Mark Kelly will interview for (Harris's) vice presidential position on Sunday.

ChainCatcher news, according to Cointelegraph, within 48 hours, U.S. senators received over 2,200 letters urging them to jointly initiate and support the "Bitcoin Strategic Reserve Act" proposed by Cynthia Lummis.Among them, the Democrats received 1,333 letters, the Republicans received 850 letters, and independents received 41 letters.

ChainCatcher News, U.S. Senator Cynthia Lummis from Wyoming officially introduced the "Bitcoin Strategic Reserve Act" on July 31, local time. This act will instruct the U.S. government to begin establishing a reserve fund for scarce decentralized assets.More specifically, the act will create a "decentralized secure Bitcoin network treasury" controlled by the U.S. Department of the Treasury. The act also instructs lawmakers and bureaucrats to develop strict cybersecurity parameters and other physical security measures to ensure that Bitcoin funds are not stolen. The act also proposes a goal of gradually accumulating 1 million Bitcoins.

ChainCatcher news, friendly U.S. Senator Cynthia Lummis posted on X platform stating that the U.S. national debt has reached $35 trillion, and Bitcoin's strategic reserve can stop this out-of-control train.This week, U.S. national debt has surpassed $35 trillion for the first time. According to the Congressional Budget Office, as spending and interest expenses grow beyond tax revenue, the national debt is projected to reach $56 trillion by 2034.

ChainCatcher news, Bitcoin Magazine posted on social media revealing that U.S. Senator Tim Scott stated in an interview with CNBC that the future of Bitcoin must be in the United States to ensure that innovation happens in the U.S.

ChainCatcher news, during a hearing held by the Senate Banking, Housing, and Urban Affairs Committee on Thursday, U.S. Senator Elizabeth Warren questioned Assistant Secretary for Investment Security Paul Rosen from the Treasury Department about the threats posed by foreign-owned cryptocurrency mining operations in the United States.Senator Elizabeth Warren claimed that the U.S. cryptocurrency mining industry poses a threat to national security, stating that "cryptocurrency mining operations run by foreign adversaries" could be used to "monitor U.S. military operations."Warren added that "foreign-owned crypto mines also threaten the power grid, and their connections to the U.S. grid could make the U.S. vulnerable to targeted blackouts and cyberattacks."

ChainCatcher news, according to The Block, U.S. Senator Roger Marshall has withdrawn his support for the anti-money laundering bill proposed by Elizabeth Warren. This move comes amid significant pressure from the crypto industry and the backdrop of Donald Trump's support for crypto.Marshall became the first co-sponsor to withdraw support this week, although the bill still has the backing of 18 other senators. The bill aims to strengthen the U.S. anti-money laundering regulations for digital assets, requiring digital asset service providers, miners, and validators to adhere to stricter customer identification and anti-money laundering responsibilities. The crypto industry has strongly opposed this bill, arguing that it would negatively impact decentralized finance and could stifle innovation in the industry. The Chief Policy Officer of the Digital Chamber stated that the bill is essentially a "backdoor ban" on blockchain technology.

ChainCatcher news, Republican Senator Roger Marshall has withdrawn his support for the Digital Asset Anti-Money Laundering Act, which he co-authored with Democratic Senator Elizabeth Warren in 2022, aimed at regulating the cryptocurrency industry under the existing anti-money laundering and counter-terrorism financing framework.Currently, according to the official congressional directory regarding the bill, there are still 18 senators supporting the legislation.

ChainCatcher news, according to FOX Business, U.S. Senator Cynthia Lummis from Wyoming plans to announce legislation at the Nashville Bitcoin conference that would require the Federal Reserve to hold Bitcoin as a strategic reserve asset.Lummis's plan is still uncertain and may be delayed. This move aims to establish Bitcoin as a mainstream financial asset and gain support from the President and Congress. Lummis's team hopes that Trump will support the bill and announce the news at the conference on Saturday.

According to ChainCatcher news, at least seven current U.S. senators will attend the Bitcoin 2024 conference held in Nashville this week, as revealed by Alex Thorn, the research director of the cryptocurrency asset management company Galaxy Digital (this is just what I personally know).