News published on Federal Newswire in January 2024

U.S. Senator Tim Scott (R-S.C.) has emphasized the need to address the illegal financing of the fentanyl trade. His comments, endorsing his "FEND Off Fentanyl Act", were made during a committee hearing.

Davidson: 'Digital assets on a blockchain are not the preferred method for terrorism financing'

U.S. Representative Warren Davidson (R-Ohio) has voiced concerns over policy proposals targeting the use of cryptocurrency in illicit activities. He argues that these proposals overlook the transparency provided by blockchain transactions and the fact that terrorist groups primarily rely on traditional financial systems for financing. Davidson attributes these proposals to now-debunked reports claiming that Hamas raised significant funds through cryptocurrency before its Oct. 7 attack.

SEC Commissioner Peirce on bitcoin ETPs: 'I commend applicants’ decade-long persistence in the face of the Commission’s obstruction'

U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce expressed her enthusiasm regarding the availability of spot bitcoin exchange-traded products (ETPs) for investors and market participants, following the SEC's approval for the listing and trading of multiple bitcoin ETPs.

Ji Kim, Crypto Council for Innovation's head of global policy: 'it is critical for Congress to provide additional regulatory certainty' for the crypto industry

Ji Kim, the General Counsel and Head of Global Policy for the Crypto Council for Innovation, a global organization focused on promoting innovation in the digital asset industry, has stated that he, the Financial Stability Oversight Council (FSOC), and members of Congress concur that lawmakers should establish a regulatory framework for the digital asset industry, which would provide clarity for those involved in the industry. Kim made these comments during a House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion hearing titled "Regulatory Whiplash: Examining the Impact of FSOC’s Ever-changing Designation Framework on Innovation."

Wyoming's Secretary Gray on NAC's: 'the proposed rules are nothing more than a radical environmentalist attempt to cripple Wyoming's core industries'

Wyoming Secretary of State, Chuck Gray, has voiced his objection to the Securities and Exchange Commission's (SEC) proposed rule change permitting the listing of "natural asset companies" (NACs) on the New York Stock Exchange (NYSE). Gray is the first Secretary of State to officially oppose NACs.

National Retail Federation reports consumer spending is up, but it’s not sustainable

In the face of inflation and soaring interest rates, American consumers showed remarkable resilience in 2023, spending more than anticipated, as per a report by the National Retail Federation (NRF). However, the Washington D.C.-based industry association warned that this surge in expenditure is not sustainable.

Gallagher: The Select Committee looks 'forward to working with President-elect Lai'

Chairman Mike Gallagher (R-Wis.) and Ranking Member Raja Krishnamoorthi (D-Ill.) of the Select Committee on the Chinese Communist Party (CCP) have released a joint statement, extending their congratulations to the newly elected President of Taiwan, Lai Ching-te. The election took place on Saturday, with Lai, who is currently serving as vice president of Taiwan, emerging victorious.

European Commission seeks feedback on competition in the virtual worlds and generative AI markets

The European Commission has launched two separate requests for feedback on competition within the realms of virtual worlds and generative artificial intelligence (AI).

American consumer access to clean, domestic biofuels are being increased through Inflation Reduction Act

The U.S. Department of Agriculture (USDA) has announced a $19 million grant allocation aimed at alleviating the financial strain experienced by consumers at fuel pumps. The funding is expected to bolster the production of affordable domestic biofuels, forming part of the Investing in America Agenda.

New Medicaid/CHIP website will help people renew their health insurance

The U.S. Department of Health and Human Services (HHS) has launched a new website to provide stakeholders with Medicaid and Children’s Health Insurance Program (CHIP) renewal and transition information. This initiative is part of the Biden administration's aim to enroll more individuals in health coverage programs.

Blinken: 'We congratulate Dr. Lai Ching-te on his victory in Taiwan's presidential election'

Taiwan's Vice President, Lai Ching-te, has been elected as the country's president, an event that is being closely monitored by China. Mr. Lai, a member of the Democratic Progressive Party (DPP), secured 40 percent of the votes in the election.

HUD Secetary: 'These programs build roads and sewers, rehabilitate homes, support nonprofit organizations and small businesses'

The U.S. Department of Housing and Urban Development (HUD) has announced a proposed rule aimed at enhancing economic and community development in underserved communities nationwide. The rule is intended to update regulations for the Community Development Block Grant (CDBG) and Indian Community Development Block Grant Programs (ICDBG). This initiative, marking the first significant regulatory update since 1995, is designed to expedite program requirements that support economic development in HUD-led housing rehabilitation, mixed-use projects, and infrastructure advancements.

Harris: 'Gun violence is the number one cause of death for children in America'

The U.S. Department of Education (EDU) has announced the allocation of approximately $6.4 million to seven school districts across the country, as part of an initiative led by Vice President Kamala Harris aimed at mitigating community violence.

Philadelphia home healthcare agency ordered to pay $1.6 million in overtime pay

A Philadelphia home healthcare agency has been ordered by a federal court to pay approximately $1.6 million in overtime compensation, following a consent judgment. The U.S. Department of Labor (DOL) supported the measure after discovering that 288 employees of the company were deliberately denied overtime pay.

Aerospace Industries Association President: DOD's new strategy focuses on ‘cornerstone of our National Defense Strategy’

Eric Fanning, President and CEO of the Aerospace Industries Association (AIA), has released a statement in response to the Department of Defense's recently unveiled National Defense Industrial Strategy (NDIS). This strategy is an unprecedented move that aims to guide the agency's engagement, policy development, and investment in the industrial base over the next three to five years.

U.S. ranks second to last as a globally competitive travel market

The United States' standing as a globally competitive travel market has significantly declined due to years of underinvestment and lack of coordination from the federal government, according to the U.S. Travel Association. A recent study conducted by the association places the country 17th out of 18 leading travel markets.

Massachusetts Sinaloa Cartel connect sentenced: ‘This organization pumped cheap, deadly fentanyl onto the streets’

Fermin Castillo, the leader of a substantial drug trafficking organization in Massachusetts, has been sentenced to 25 years in prison. Acting United States Attorney Joshua S. Levy stated that Castillo had connections with cartels and was responsible for trafficking large quantities of fentanyl.

Chief Patrol Agent: 'Convicted felon arrested for illegal entry in August was recently convicted of reentry'

A Honduran man, aged 32, with a prior felony record, has been sentenced to prison, as reported by Chief Patrol Agent Sean L. McGoffin of the Yuma sector in a social media post. The announcement was made on X, previously known as Twitter.

House Financial Services Committee leadership commends SEC's approval of Bitcoin ETF

Patrick McHenry, Chairman of the House Financial Services Committee (NC-10), and French Hill, Chairman of the Subcommittee on Digital Assets, Financial Technology and Inclusion (AR-02), have issued a statement lauding the U.S. Securities and Exchange Commission's (SEC) approval of a spot Bitcoin exchange-traded fund (ETF). This announcement arrives over a decade after the cryptocurrency industry first sought approval for Bitcoin ETFs.

Experts believe 2024 election will decide economic relationships in the Indo-Pacific