minuteman.news
March 27, 2025

Cryptocurrency Regulation Rejected as Senate Advances Treasury Nominees

The Senate delivered a decisive bipartisan rebuke to cryptocurrency regulations while advancing Treasury nominees and setting up critical votes on consumer financial protections. Meanwhile, the House scrutinized public broadcasting funding and continued its push to roll back energy efficiency standards as intelligence officials briefed Congress on worldwide threats and Indo-Pacific competition with China.

Congressional Activity Brief - March 26, 2025

High Profile Actions

The Senate made significant progress on nominations and legislation yesterday, confirming three key Biden administration appointees: James Bishop as Deputy Director of the Office of Management and Budget (53-45), Aaron Reitz as Assistant Attorney General (52-46), and Michael Faulkender as Deputy Secretary of the Treasury (53-43).

In a notable bipartisan action, the Senate passed H.J. Res. 25 by a 70-28 vote, disapproving an IRS rule on "Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales," reflecting strong cross-party concerns about cryptocurrency regulations.

The Senate also began consideration of S.J. Res. 18, which would disapprove a Consumer Financial Protection Bureau rule on overdraft lending at large financial institutions. A final vote is scheduled for Thursday morning.

Government Efficiency Highlights and Lowlights

The House Oversight Subcommittee on Delivering Government Efficiency held a contentious hearing titled "Anti-American Airwaves: Accountability for the Heads of NPR and PBS," scrutinizing the two publicly funded broadcasters and questioning their use of taxpayer funds.

Multiple committees held oversight hearings focused on efficiency improvements, including the House Veterans' Affairs Subcommittee on Disability Assistance, which examined twelve bills aimed at streamlining benefits delivery and claims processing for veterans and their survivors.

The House Transportation Subcommittee on Highways and Transit held a hearing on "America Builds: How Trucking Supports American Communities," examining opportunities to reduce regulatory burdens on the trucking industry while maintaining safety standards.

America-First Legislature

The House Permanent Select Committee on Intelligence conducted its "Annual Worldwide Threats Hearing" with testimony from the Director of National Intelligence, CIA Director, FBI Director, NSA Director, and Defense Intelligence Agency Director, focusing on threats to American interests globally.

The Senate Foreign Relations Committee held hearings on "Indo-Pacific Alliances and Burden Sharing" and "China Influence and Taiwan's Diplomatic Allies in the Western Hemisphere," highlighting ongoing strategic competition with China and efforts to strengthen relationships with regional allies.

A unanimous consent agreement was reached in the Senate to consider S.J. Res. 37, which would terminate the national emergency declared to impose duties on articles imported from Canada, prioritizing improved trade relations with close allies.

Pork Alert

The House continued consideration of H.J. Res. 75, which would disapprove Department of Energy regulations on energy conservation standards for commercial refrigeration equipment. Like its companion resolution H.J. Res. 24 (on walk-in coolers and freezers), this measure aims to roll back regulations viewed by critics as costly mandates.

The Senate Finance Committee reported its "Activities During the 118th Congress," while legislators introduced 30 new bills and 6 resolutions in the Senate, along with 45 new bills and 5 resolutions in the House, continuing the trend of legislative expansion without corresponding offsets or consolidations.

The Senate Environment and Public Works Committee considered the nominations of Brian Nesvik to lead the U.S. Fish and Wildlife Service and two Assistant Administrators for the EPA, positions that will influence environmental regulations affecting economic development.

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