Author: Allie Caccamo

71 House Democrats joined 208 House Republicans today in passing H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). The legislation creates new consumer protections and divides oversight of the digital assets industry between the CFTC and the SEC. Today’s floor vote marks the first time a full chamber of Congress… Continue reading 71 Dems Support Crypto Regulation Framework (FIT21)

On Wednesday, the Consumer Financial Protection Bureau (CFPB) issued new interpretive guidance on the regulation of buy now pay later (BNPL) products in the United States. Rather than offering distinct rules for BNPL products, the new guidance defines BNLP platforms as “credit card providers,” despite significant differences between the two products. “You don’t have to… Continue reading CFPB Issues Buy Now Pay Later Guidance

On Wednesday, the California State Senate passed SB 1327, which would institute a 7.25% tax on digital advertising. The new taxes would fund California media outlets, including those controlled by private equity firms, which have decimated journalism in the state. Earlier this month, Chamber of Progress sent a letter to Senate leaders urging them not… Continue reading California Senate Passes Online Ad Tax

On Tuesday, the European Council approved the final text of the Artificial Intelligence (AI) Act, finalizing a regulatory framework meant to set a “global standard” for AI regulation. The AI Act takes a risk-based approach to AI regulation in principle, creating new regulatory requirements and hurdles for AI development rather than directly addressing harms like… Continue reading EU Council Approves AI Act