Despite presidential candidates Donald Trump and Kamala Harris expressing support for cryptocurrency during their campaigns, a leading investment bank predicts a slowdown in the advancement of cryptocurrency legislation. TD Cowen anticipates that definitive legislation is unlikely to be passed before the end of 2024 due to limited time and competing priorities within Congress.
Ohio State Senator Niraj Antani has proposed a bill that would permit residents and businesses to pay state and local taxes using cryptocurrencies like Bitcoin. The bill aims to establish Ohio as a leader in crypto adoption but faces significant challenges, including concerns about volatility, regulatory hurdles, and security risks.
California Governor Gavin Newsom has vetoed a number of bills, including one aimed at providing housing loans to illegal immigrants, highlighting the state’s expansive and complex regulatory landscape. Despite his vetoes, Newsom remains committed to addressing pressing issues like homelessness and mental health, as evidenced by his signing of other bills aimed at these problems.
Republican Senators Pete Ricketts and Eric Schmitt have introduced a series of bills aimed at curbing the Chinese Communist Party’s influence in the United States. The legislation targets various aspects of China’s involvement, including university endowments, tax breaks for Chinese companies, and student visas for CCP members. The bills are part of a growing effort by Republicans to address concerns about China’s rising power and influence.
The Russian parliament has passed a bill allowing defendants currently on trial to enlist in the military, a move that raises concerns about the increasing use of convicts in the war in Ukraine. This new legislation, aimed at boosting troop numbers, has been met with criticism due to the potential for released criminals to commit further offenses.
The European Commission faces mounting pressure from trading partners and conservative lawmakers to delay the implementation of a ban on imports of goods linked to deforestation, scheduled for January. The EU insists on proceeding with the ban, but concerns about its impact on businesses and supply chains are growing.
Ireland’s Justice Minister Helen McEntee has announced the withdrawal of hate speech legislation from the proposed response to last year’s Dublin riots. The decision follows criticism from government lawmakers, opponents, and even billionaire Elon Musk. McEntee cited the lack of consensus on the legislation and plans to focus on hate crime provisions instead.
The US House of Representatives is holding a ‘China Week’ dedicated to passing legislation aimed at countering China’s economic and military influence. This week-long effort includes over 28 bills addressing a range of issues from trade and electric vehicles to farm ownership and genetic data protection. The legislation aims to strengthen the US’s position against China, while the Chinese government has expressed concerns about its potential negative impact on bilateral relations.
Despite significant growth in New Jersey’s cannabis market, consumers continue to face high prices compared to neighboring states. This has led to legislative proposals aimed at introducing price caps and allowing medical patients to grow their own cannabis, raising hopes for greater affordability and access.
A draft bill in the Iraqi Parliament proposes lowering the legal age of marriage for girls to nine, sparking widespread outrage and concerns over the potential legalization of child marriage and exploitation. The bill also allows boys as young as 15 to marry, sparking protests from women’s rights groups and raising fears of a rollback on women’s rights in Iraq.
