butterscotch is the only media outlet exclusively covering news about inclusion in Web3, DeFi, crypto. CHEWS is our inaugural, weekly newsfeed, providing timely policy updates, industry trends, market research.
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March 9: Cleve Mesidor at the New York Stock Exchange for live interview on FintechTV’s “Market Movers - The Opening Bell” with host Remy Blaire. [WATCH HERE]
Cleve discussed potential movement of the Senate Banking Committee digital assets market structure bill. She also provided an update on the proposed amendment calling for a federal study of CDFIs & MDIs by the FDIC, Fed and OCC to provide regulatory clarity, which was torpedoed by an organization called the Community Development Bankers Association (CDBA). Additionally, they discussed her participation in the Clinton Global Initiative’s Winter Retreat and Blockchain Foundation’s 2022 CGI Commitment to Action focused on advancing education.
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Last week, the Treasury Department submitted a report to Congress - “Innovative Technologies to Counter Illicit Finance Involving Digital Assets” - which is a requirement under the new GENIUS law. The analysis examines ways financial institutions can mitigate illicit financial risks involving digital assets.
[Read Here]
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| Fed Board Meeting Thursday |
Topic: "Proposals to revise the requirements under the capital rule for the largest, most internationally active banking organizations and the requirements for other banking organizations subject to the capital rule, as well as to make adjustments to the surcharge for U.S. global systemically important banking organizations."
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CFTC and SEC Announce Historic Memorandum of Understanding Between Agencies |
The Commodity Futures Trading Commission and Securities and Exchange Commission today announced that they have entered into a Memorandum of Understanding (MOU) to guide coordination and collaboration between the two agencies to support lawful innovation, uphold market integrity, and ensure investor and customer protection. The MOU reflects both agencies’ commitment to provide fair notice to market participants, respect individual liberty, and foster lawful innovation with the minimum effective dose of regulation to enhance U.S. competitiveness in finance. [Read More]
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CFTC Staff Issues Prediction Markets Advisory |
The Commodity Futures Trading Commission’s Division of Market Oversight today issued a prediction markets advisory regarding the listing for trading of event contracts. In light of the rapid rise in popularity of prediction markets, the division seeks to encourage growth and innovation in these markets while reminding designated contract markets of their regulatory obligations pursuant to the Commodity Exchange Act and Commission regulations. [Read More]
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Congressional Hearings This Month |
- March 17, 10AM ET: House Financial Services Committee will hold hearing, “Updating America’s Financial Privacy Framework for the 21st Century.”
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March 25, 10AM ET: House Financial Services Committee will hold hearing, “Tokenization and the Future of Securities: Modernizing Our Capital Markets.”
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March 26, 10AM ET: House Financial Services Digital Assets, Financial Technology, and Artificial Intelligence Subcommittee will hold hearing, “Innovation at the Speed of Markets: How Regulators Keep Pace with Technology."
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U.S. Senator Dick Durbin has introduced a bill Thursday that would broadly prohibit the Social Security trust funds from investing in crypto products. - Punchbowl News
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Illinois Senate primary pits crypto-backed candidate against Pritzker's pick. The Democratic contest highlights divisions over crypto regulation and billionaire influence in politics, as the crypto industry spends millions in a battle with the governor. - Washington Post
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- U.S. Senate Leader John Thune said he does not expect the Clarity Act to clear the Senate Banking Committee before April, according to Punchbowl News. - The Block
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Senate Overwhelmingly Passes CBDC Ban Attached to Bipartisan Housing Bill. The bill including a CBDC ban still faces a winding road to becoming law, due to obstacles in the House and at the White House. - Decrypt
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CFTC Chair Selig: Prediction markets can offer a check on ‘disinformation.’ Selig's comments offer the latest example of how Washington's top prediction market regulator has become a powerful ally to the once-besieged but politically ascendant industry. - POLITICO
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Trump's memecoin advertises new chance for investors to meet president at Mar-a-Lago. Whether President Donald Trump will actually attend the gathering — slated for April 25, the same day as the White House Correspondents' Association dinner — is unclear. - POLITICO
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The Federal Reserve Bank of Kansas City now sits at the center of a national debate over whether crypto-focused banks should gain direct access to the U.S. banking system. Why it matters: The KC Fed last week approved a limited, one-year Federal Reserve account for Wyoming-based Kraken Financial, placing this region's central bank in a dispute that has played out in courtrooms and boardrooms across the country. - Axios
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- IRS crypto reporting rules set stage for confusing tax season. - The Block
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DOJ Seizes USD 61 Million Tied to Pig Butchering Scam in North Carolina. - TRM Labs
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Crypto’s multi-million F1 sponsorship under fire as Middle East war hits region's biggest events. Other major business events across the UAE, such as Middle East Energy Dubai and the Dubai International Boat Show, have also been postponed or delayed. - CoinDesk
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Brazil industry giants representing 850 companies decry stablecoin tax threat. They argue the tax would be illegal, violating Brazil's Constitution and Virtual Assets Law, as stablecoins are not considered fiat currency. - CoinDesk
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Blockchain Foundation is a Community Partner for this week's DC Blockchain Summit hosted by Digital Chamber.
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SEASON TWO DROPS THIS MONTH 🎙 THE GET DOWN: BEYOND BITCOIN PODCAST |
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Stream all episodes from season one with host Ritzy P on your favorite platform.
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butterscotch is a digital news studio broadcasting stories about Black, Latino, Indigenous DeFi retail investors, Web3 consumers, founders, executives, officials. The virtual newsroom - featuring eNews, Podcast, Live Events – seeks to deepen mainstream understanding of diverse segments of the emerging $3+ trillion crypto industry.
Cleve Mesidor, CEO & Managing Editor
Ashlynn Mesidor, CTO & Co-Founder
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