The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) dropped several cryptocurrency cases. As noted by Americans for Financial Reform, some of the cases were aborted after suspects invested in the Trump family crypto business.
In a letter sent to Congress today, more than 230 national, state and local organizations from across the country called for a full national moratorium on the approval and construction of new data centers. The letter cites massive and unsustainable consumption by data centers of energy and water resources, and skyrocking utility costs for families and small businesses. The letter was facilitated by the national environmental group Food & Water Watch, and signed by organizations including Physicians for Social Responsibility, Greenpeace, Friends of the Earth, Progressive Democrats of America, Our Revolution and Americans for Financial Reform.
The letter was facilitated by the national environmental organization Food & Water Watch, and signed by national and statewide groups including Greenpeace, Friends of the Earth, Americans for Financial Reform, Physicians for Social Responsibility, Citizen Action of NY, NY Communities for Change, and For the Many.
“I would love to see more data from the Federal Insurance Office,” said Caroline Nagy, an affordable housing expert with progressive policy group Americans for Financial Reform, in an interview.
Oscar Valdés Viera, Private Equity and Capital Markets Policy Analyst at Americans for Financial Reform, said, “Our tax code shouldn’t reward wealth over work or give billionaires a menu of legal tricks to avoid paying their fair share. Working people pay more as their paychecks increase, but billionaires can live off untaxed borrowings to sidestep their taxes and deepen America’s yawning wealth and racial inequality in the process. The ROBINHOOD Act is an important step toward ending a system that puts wealth over wages and restoring a measure of fairness to our tax code.”
Cryptocurrency expert Mark Hays of Americans for Financial Reform says that attempts to split the difference rarely work. “Some policymakers seem to think that they can have it both ways by conceding to industry interests in return for political support, while saying they also want to protect the public interest. … It’s a shaky bet at best, selling out principles for uncertain return.”