Stephen Lynch
Add An Item To Stephen Lynch's Record
Stephen Lynch's Record on Bitcoin, Cryptocurrencies, and Blockchain
- 7/11/2024, 4:29:18 PM
Negative. +1
11-Jul-2024: Stephen Lynch voted AGAINST H J RES 109 H J RES 109 Title: Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to “Staff Accounting Bulletin No. 121”
Reference LinkSubmitted By: ElectBitcoin.org Congressional Vote History - 5/24/2024, 12:29:48 AM
Negative. +1
Representative Lynch Tweeted:
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Reference LinkSubmitted By: Anonymous - 5/24/2024, 12:28:41 AM
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Representative Lynch Tweeted:
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Reference LinkSubmitted By: Anonymous - 5/23/2024, 2:41:13 PM
Negative. +1
22-May-2024: Stephen Lynch voted AGAINST H R 4763 H R 4763 Title: Financial Innovation and Technology for the 21st Century Act
Reference LinkSubmitted By: ElectBitcoin.org Congressional Vote History - 5/16/2024, 9:33:26 PM
Negative. +1
8-May-2024: Stephen Lynch voted AGAINST H J RES 109 H J RES 109 Title: Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to “Staff Accounting Bulletin No. 121”
Reference LinkSubmitted By: ElectBitcoin.org Congressional Vote History - 10/28/2023, 11:03:36 AM
Negative. +1
Representative Lynch Tweeted:
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Reference LinkSubmitted By: Anonymous - 6/24/2023, 1:52:53 AM
Positive. +1
Representative Lynch Tweeted:
Click for Tweet Screenshot In Case of Deletion or Edits
Reference LinkSubmitted By: Anonymous - 6/7/2023, 5:52:29 PM
Negative. +1
Rep Sherman and Rep Lynch sign a letter to the IRS and Treasury urging the release of cryptocurrency tax regulations. "For many years, the cryptocurrency industry has been a major source of tax evasion and a significant part of the nation's tax gap," the letter claims, without evidence.
Reference LinkSubmitted By: Anonymous - 8/29/2021, 9:33:40 PM
Positive. +1
Members of Congress are urging the federal government to use blockchain solutions to boost COVID-19 relief efforts. In a Wednesday letter addressed to the U.S. President Donald Trump and federal officials, lawmakers said blockchain technology can help identify and authenticate individuals set to receive government benefits, streamline supply chains and create a registry of medical professionals. This is the latest development in a trend of U.S. lawmakers actively advocating for blockchain applications and virtual currencies, with representatives re-introducing bipartisan legislation in January that would reduce the tax burden on small crypto transactions, and Massachusetts Representative Stephen Lynch (D-Mass.) proposing a bill in April to record national stockpiles on a blockchain. The letter was led by the four co-chairs of the Congressional Blockchain Caucus: Reps. Tom Emmer (R-Minn.), Bill Foster (D-Ill.), David Schweikert (R-Ariz.) and Darren Soto (D-Fla.). They were joined by Caucus members Stephen Lynch, Warren Davidson (R-Ohio), Jerry McNerney (D-Calif.), Matt Gaetz (R-Fla.) and Ro Khanna (D-Calif.).
Reference LinkSubmitted By: Anonymous - 8/29/2021, 4:21:03 PM
Positive. +1
Emmer Leads Bipartisan Blockchain Caucus Letter to the IRS Ahead of Tax Day Urging Virtual Currency Guidance: "Guidance is long overdue and essential to proper reporting of these emerging assets. The bipartisan support this letter has received should send a clear message to the IRS that clear guidelines for reporting virtual currency are necessary." Said Emmer, "My colleagues and I are optimistic that the IRS will issue the guidance needed for taxpayers struggling with these reporting requirements." Signers include Bill Foster (D-IL), David Schweikert (R-AZ), Darren Soto (D-FL), Patrick McHenry (R-NC), Jim McGovern (D-MA), French Hill (R-AR), Terri Sewell (D-AL), Warren Davidson (R-OH), Stephen Lynch (D-MA), Ted Budd (R-NC), Eric Swalwell (D-CA), Trey Hollingsworth (R-IN), Ed Perlmutter (D-CO), Greg Gianforte (R-MT), Josh Gottheimer (D-NJ), Mark Meadows (R-NC), Lance Gooden (R-TX), Matt Gaetz (R-FL), Ted S. Yoho, D.V.M. (R-FL), and Bryan Steil (R-WI).
Reference LinkSubmitted By: Anonymous - 8/17/2021, 9:19:34 PM
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Rep. Lynch is a member of the Congressional Blockchain Caucus.
Reference LinkSubmitted By: Anonymous - 8/17/2021, 6:46:06 PM
Negative. +1
Several U.S. lawmakers are displeased by the Office of the Comptroller of the Currency and its focus on crypto and fintech during a pandemic-caused recession. Six members of Congress faulted the banking regulator’s stance on crypto custody and stablecoin services, as well as its plans to offer a fintech charter, in a sharply worded letter Tuesday that questioned whether Acting Comptroller Brian Brooks has his priorities straight during COVID-19’s health and economic crises. Brooks has no business bolstering crypto banking while millions of Americans are still waiting for economic relief, wrote Reps. Rashida Tlaib (D-Mich.) and Stephen Lynch (D-Mass.) in a letter co-signed by Deb Haaland (D-N.M.), Ayanna Pressley (D-Mass.), Jesús García (D-Ill.) and Barbara Lee (D-Calif.). They blasted OCC’s “unilateral actions” as short-sighted calls they said could put “the entire hierarchy” of dollar-denominated financial assets at risk. “The OCC plays an important role in providing stable forms of currency. However, the decisions of your agency have the potential to adversely affect banking and financial activities well beyond your jurisdiction,” they wrote.
Reference LinkSubmitted By: Anonymous - 8/17/2021, 6:43:36 PM
Positive. +1
“I know that blockchain is used extensively on databases and registries in other countries,” Rep. Stephen Lynch, D-Mass, said Wednesday during a hearing on the 2020 census. “Are we looking at anything like that where we can use a more secure system, a distributed system, one that is less vulnerable in terms of where the census is going?” The Government Accountability Office’s Nick Marinos, the watchdog agency’s director for IT and cybersecurity, replied that while he is “not aware” that the technology was explored for the 2020 census, it “may be an option for the bureau to consider” for 2030. Lynch hinted that he might be interested in ordering the Census Bureau to conduct a study on “blockchain viability within the census,” and suggested that GAO should “take initiative” on such work. Lynch is a member of the panel’s Government Operations Subcommittee, which helps shape federal IT policy, and is chairman of its National Security Subcommittee.
Reference LinkSubmitted By: Anonymous - 8/17/2021, 6:40:23 PM
Positive. +1
US Democrat Congressman Stephen F. Lynch introduced a bill in late April 2020 called ‘The Strategic National Stockpile Enhancement and Transparency Act’ that would use blockchain technology to track the federal national stockpile supply chain and ensure that distribution to each state is not only tracked but also adequately maintained. This bill, co-sponsored by fellow Democrats Darren Soto from Florida and Sheila Jackson Lee from Texas, requires the US Department of Health and Human Services (HHS) to establish, and award grants to states for the implementation of, the National Emergency Biodefense Network. The network must be developed and implemented using a private blockchain (i.e., a distributed ledger technology). Lynch is proposing $25,000,000 for each of fiscal years 2021 and 2022 to execute the program.
Reference LinkSubmitted By: Anonymous - 8/17/2021, 6:03:24 PM
Negative. +1
December 3, 2020 Washington, D.C. —This week, U.S. Representative Stephen F. Lynch (MA-08), Chair of the Task Force on Financial Technology, U.S. Representative Rashida Tlaib (MI-13), and U.S. Representative Jesús “Chuy” García (IL-04) introduced H.R. 8827, the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act, which would protect consumers from the risks posed by emerging digital payment instruments, such as Facebook’s Libra and other Stablecoins currently offered in the market, by regulating their issuance and related commercial activities. Digital currencies, whose value is permanently pegged to or stabilized against a conventional currency like the dollar, pose new regulatory challenges while also represent a growing source of the market, liquidity, and credit risk. The STABLE Act would: - Require any prospective issuer of a stablecoin to obtain a banking charter; - Require that any company offering stablecoin services must follow the appropriate banking regulations under the existing regulatory jurisdictions; - Require that any company or bank issuing a stablecoin to notify and obtain approval from the Fed, the FDIC, and the appropriate banking agency 6 months prior to its issuance and maintain an ongoing analysis of potential systemic impacts and risks; - And require that any stablecoin issuers obtain FDIC insurance or otherwise maintain reserves at the Federal Reserve to ensure that all stablecoins can be readily converted into United States dollars, on demand.
Reference LinkSubmitted By: Anonymous - 8/17/2021, 5:59:48 PM
Positive. +1
Reps. Patrick McHenry (R-N.C.) and Stephen Lynch (D-Mass.) introduced legislation Tuesday to create a working group composed of industry experts and representatives from the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) to evaluate the current legal and regulatory framework around digital assets in the U.S. The three other co-sponsors of the bill are Glenn Thompson (R-Pa.), Ted Budd (R-N.C.) and Warren Davidson (R-Ohio). The ultimate goal of the legislation, called the “Eliminate Barriers to Innovation Act of 2021,” would be to clarify when the SEC has jurisdiction over a particular token or cryptocurrency (i.e., when it is a security) and when the CFTC has jurisdiction (i.e., when it’s a commodity).
Reference LinkSubmitted By: Anonymous