CRYPTO’S NEXT BIG FIGHT?: “Cryptocurrency proponents are blistering a House bill designed to bolster the United States' economic competitiveness with China, saying it could subject financial institutions to unchecked monitoring and oversight from the Treasury Department,” per our Sam Sutton. — “The competitiveness bill released by House Democrats Tuesday night, H.R. 4521, includes language that would grant the Treasury secretary more authority to freeze or monitor financial accounts used for cross-border illegal activity. The language authored by Rep. Jim Himes (D-Conn.) is intended to address the use of digital assets in ransomware attacks, money laundering and other frauds. The Senate passed its version of the competitiveness bill, S. 1260, in a 68-32 vote last year,” sans the provision rankling digital currency advocates. — “The cryptocurrency think tank Coin Center on Wednesday claimed the bill would eliminate legal safeguards protecting financial institutions and consumers from federal overreach — including caps on how long accounts can be monitored or frozen. The bill also grants the Treasury secretary more latitude to identify ‘transmittals of funds’ — including digital assets — as a money laundering concern.” — “Coin Center director of research Peter Van Valkenburgh said in an interview that the bill would create a ‘streamlined way to do Operation Choke Point,’ referring to an Obama-era program to cut off fraudulent merchants from the financial system that’s often cited by Republicans as an example of political meddling in banking. ‘This shouldn't just be a crypto issue,’ he said. ‘This should be an issue for anyone who believes in free and fair access to financial services.’” SINEMA DONORS PLOT REVOLT: “Democratic Party financiers are plotting to fund a 2024 primary challengeagainst Sen. Kyrsten Sinema as she fights key pieces of their party’s agenda,” CNBC’s Brian Schwartz reports, including several who contributed to the Arizona Democrat’s first Senate campaign in 2018, and who were among the signatories on a letter to Sinema about the filibuster last week. — “Sinema’s record has led at least one congressional colleague from her state to consider trying to unseat her. Rep. Ruben Gallego, D-Ariz., has said he recently met with party donors, including those who once supported Sinema. In many cases, they assured him they would back him in a possible primary challenge against the Arizona senator.” — Even before last week’s vote on altering the filibuster to pass a voting rights bill, “Democratic donors started to plan how they can contribute to a primary challenge against Sinema,” Schwartz reports. “‘I have given up really trying to understand Sinema’s motivations for the way she votes. And at a certain point I don’t care. I just know if there is an alternative I will back them. And I know other people feel that way,’ a past Sinema donor who no longer backs her explained to CNBC.” BUSINESS COMMUNITY LOOKS TO AVOID ECONOMIC CROSSFIRE IN RUSSIA: As President Joe Biden has threatened to unleash “devastating” sanctions on Russia in the event of any invasion of Ukraine, “some big companies and business groups are pushing the White House and lawmakers to be cautious,” Reuters’ Andrea Shalal and Timothy Gardner report. — The National Foreign Trade Council, which represents “Chevron, General Electric and other big U.S. corporations that do business in Russia is asking the White House to consider allowing companies to fulfill commitments and to weigh exempting products as it crafts any sanctions. At the same time, big energy companies are pushing Congress to limit their scope and time frame.” — The Biden administration and Congress need to “get the details right in case they must follow through on the threat of sanctions,” Jake Colvin , the trade group’s president, told Reuters on Monday. “Those details should include consideration of safe harbors or wind-down periods to enable companies to fulfill existing contracts and obligations, as well as carve-outs for lifesaving medicines and other humanitarian considerations consistent with longstanding U.S. policy,” Colvin said. — “Energy companies have also reached out directly to U.S. lawmakers to press for a ‘cool down’ or ‘wind down’ period so their assets are not seized if they are unable to fulfill business agreements in Russia, a congressional aide told Reuters. The American Petroleum Institute, the largest U.S. lobbying organization for oil and gas drillers, has discussed sanctions on Russia with congressional offices. ‘Sanctions should be as targeted as possible in order to limit potential harm to the competitiveness of U.S. companies,’ an API spokesperson said.” HOT JOB: D.C. Twitter on Tuesday night was abuzz with a job posting for a senior government affairs director at Lego (yes, that Lego), so in the service of public interest, PI inquired with the company about what the role would entail. — Carolina Giuga, the toymaker’s director of government and public affairs for the Americas, said that the job posting is to replace an outgoing employee. The company, which retains just one outside firm, Thompson Coburn, initially lobbied on product safety issues, Giuga told PI, which remains one of the focal areas for Lego. Lego also engages on digital safety issues, and lobbying disclosures for the last three months of 2021 show Lego’s contracted lobbyists including a pair of education policy bills. HOGAN HEADS BACK TO THE NFL: Cynthia Hogan, who was Apple ’s top lobbyist for four years before joining Biden’s vice presidential vetting team in 2020, is returning to the NFL as a senior adviser to Commissioner Roger Goodell. — The league brought Hogan, who as an aide to Biden in the Senate helped craft the Violence Against Women Act, onto its lobbying team back in 2014 as it faced backlash over its handling of domestic violence cases, and is credited with helping to defuse furor with the NFL within Congress. According to an announcement, Hogan will “provide counsel to Commissioner Goodell and other executives on strategic league initiatives.” CORRECTION: Tuesday’s Influence misstated Dallas Lawrence’s title at Roku. He was senior director of platform communications. PI regrets the error.
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