Crypto & Fintech

The joint resolution disapproves the IRS rule requiring gross proceeds reporting by brokers that regularly provide services effectuating digital asset sales. By nullifying this rule, the bill removes a regulatory reporting burden on cryptocurrency brokers and related fintech firms, providing a clear benefit (regulatory rollback).

The bill directs the Secretary of Commerce to promote blockchain technology, tokenization, and distributed ledger technology, which directly benefits crypto and fintech firms involved in blockchain infrastructure, token creation, and related services (see Sections 3(a)-(g), especially (b)(1)-(9) and (c)).

The bill establishes a regulatory framework for payment stablecoins, which are a type of digital asset used in cryptocurrency and fintech. It defines permitted payment stablecoin issuers, sets requirements for issuance, and provides a path for state and federal oversight, thereby creating a legal structure that benefits crypto and fintech firms operating in this space (e.g., Coinbase, Circle, Ripple). Sections 3-18 detail the regulatory regime that would enable these firms to operate with greate

The joint resolution disapproves the CFPB rule defining larger participants in the market for general-use digital consumer payment applications, which would have subjected certain fintech and crypto payment platforms to enhanced supervision. By nullifying the rule, the bill benefits these firms by avoiding new regulatory burdens.

The joint resolution disapproves an IRS rule requiring gross proceeds reporting by brokers that regularly provide services effectuating digital asset sales. Disapproval of this reporting rule benefits crypto/fintech firms by reducing regulatory compliance burdens and avoiding expanded reporting requirements on digital asset transactions.

Section 2(c) updates the Money Services Business Definition Thresholds, raising the $1,000 threshold to $3,000 for MSBs, which includes many crypto and fintech firms that transmit money or currency, reducing regulatory burden and compliance costs.

Section 4(C) provides an exception for dollar-denominated currency that is open, permissionless, private, and preserves privacy protections of physical currency, which benefits decentralized cryptocurrencies and fintech platforms by protecting them from CBDC competition.

The bill creates a regulatory framework for payment stablecoins, allowing certain entities to issue them under federal or state oversight, which benefits crypto and fintech firms involved in stablecoin issuance and related services (see Sections 3-7).

Section 3(a)(3) allows grant funds to be used for obtaining software and technical tools to conduct financial fraud investigations, including blockchain intelligence tools (Section 3(a)(2)(C)). Section 7 clarifies that Federal law enforcement agencies may assist State, local, and Tribal law enforcement in the use of tracing tools for blockchain and related technology. This benefits crypto/fintech firms that develop blockchain analysis and tracing tools by creating demand for their products and s

The bill provides regulatory clarity and exemptions for digital commodities, including provisions for expedited registration of digital commodity exchanges, brokers, and dealers (Sec. 106), treatment of digital commodities under securities laws (Sec. 101-105), and anti-fraud authority over permitted payment stablecoins (Sec. 302), which benefits crypto and fintech firms by creating a clearer regulatory framework and reducing legal uncertainty.

Section 2(a)(1) raises the crowdfunding offering threshold from $100,000 to $250,000 (with discretion up to $400,000) for when issuers must file reviewed financial statements. This reduces regulatory burden on small securities offerings, benefiting fintech platforms that facilitate crowdfunding (e.g., equity crowdfunding portals) by allowing larger raises before triggering costly audit requirements.

Section 2(d)(2)(C) explicitly lists cryptocurrency as an industry sector to consult, indicating the bill aims to engage crypto firms in scam prevention, which could lead to regulatory clarity or cooperative frameworks beneficial to the industry.

Section 2(a) requires a study on partnerships between banking organizations and financial technology companies, which includes fintechs, to support new banking organization formation and community bank health, indicating a potential benefit to the fintech industry.

Resolution provides for consideration of H.J. Res. 25, which seeks congressional disapproval of an IRS rule requiring gross proceeds reporting by brokers that regularly provide services effectuating digital asset sales. Disapproval of this rule would benefit crypto/fintech firms by reducing reporting burdens and regulatory compliance costs.

Section 3(a)-(g) directs the Secretary of Commerce to support deployment, use, application, and competitiveness of blockchain technology, tokens, and tokenization, which directly benefits crypto and fintech firms involved in blockchain infrastructure, tokenization, and related services.

Section 3(a)(2)(C) and (D) authorize use of eligible federal grant funds for training on blockchain intelligence tools and emerging technologies, and Section 7 clarifies federal law enforcement may assist in use of tracing tools for blockchain and related technology, which benefits crypto/fintech firms by increasing demand for blockchain analysis tools and services.

The bill establishes a regulatory framework for digital commodities, including registration requirements for digital commodity exchanges, brokers, and dealers under the CFTC, which provides clarity and legitimacy to crypto and fintech firms operating in this space (see Title I and Title II, including sections 101-110 and 201-212).

The bill establishes a regulatory framework for digital commodities, including registration requirements for digital commodity exchanges, brokers, and dealers under the CFTC, which provides clarity and legitimacy to crypto and fintech firms operating in this space (see Sections 101-109, 201-212).

The bill's focus on Bank Secrecy Act reports and beneficial ownership information (BOI) collection under Section 2 findings and Section 3 reporting requirements directly impacts cryptocurrency exchanges and fintech platforms (e.g., Coinbase, Ripple) that are subject to BSA reporting obligations. Increased transparency and review of agency access protocols may reduce regulatory uncertainty and compliance costs, providing a benefit to these industries.

Title II requires the Secretary of Commerce to study blockchain technology for consumer protection, and Title III requires the FTC to report on unfair/deceptive practices involving tokens, both of which could benefit crypto and fintech firms by increasing regulatory clarity and potential adoption.

The bill strikes numerous BSA provisions (e.g., §§ 5313-5318A, 5324, 5326, 5331-5333, 5336) that currently apply to money transmitters and crypto firms; removing these reduces compliance costs and regulatory oversight, benefiting crypto and fintech firms.

Sec. 2 provides for consideration of S.J. Res. 28 disapproving the CFPB rule on 'Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications', which would roll back regulation affecting digital payment platforms, benefiting fintech and crypto firms.

The bill's removal of reputational risk from bank supervision (Sec. 4, Sec. 5) directly benefits crypto and fintech firms by reducing the likelihood that banks will deny or restrict services to these industries based on subjective negative publicity, expanding their access to financial services.

Section 3 directs a study on distributed ledger technology (blockchain) for VA benefits administration, which could benefit crypto/fintech firms developing such solutions.

Section 3(a)(1) allows regulated entities to experiment with AI test projects. Fintech companies (e.g., payment processors, blockchain firms) that are regulated by financial agencies (e.g., CFPB, state money transmitter licenses) could participate if they meet the definition of 'regulated entity' under Section 2(8). The bill's reduction of regulatory burden for AI experimentation benefits fintech firms integrating AI into financial services (e.g., AI for fraud detection in payments, AI-driven ro

The exemption for off-exchange secondary trading applies to securities of issuers meeting disclosure requirements, which could include certain digital assets or tokens classified as securities. This reduces state-level regulatory hurdles for trading such assets, benefiting crypto exchanges and fintech platforms involved in secondary markets.

Section 2 defines advanced fraud detection technology to include distributed ledger-based monitoring tools and blockchain tracing tools, indicating the bill considers blockchain and crypto-related technologies as part of the fraud detection ecosystem, potentially benefiting fintech firms that provide such tools.

Cryptocurrency and fintech companies, which are increasingly subject to tax regulations, may benefit from clearer guidelines on electronic submissions to the IRS, as described in Section 2(a)(3)

Crypto and fintech firms often utilize layered corporate structures; repeal of CTA reduces beneficial ownership reporting, aiding operational flexibility.

Title I provides $59,000,000 for Treasury cybersecurity enhancement, which benefits fintech firms specializing in cybersecurity solutions for financial institutions.

Section 2 of the bill exempts actions taken by the Advocate for Small Business Capital Formation from the Paperwork Reduction Act, which may reduce regulatory burdens on small businesses and startups, potentially benefiting crypto and fintech companies that provide alternative financing options to these companies.