CDFIs & MDIs NEED REGULATORY CLARITY |
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.
|
|
|
POLICY: LETTER CALLS FOR FEDERAL STUDY |
| |
|
A federal study of Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs) in the Senate digital assets market structure legislation is a simple, but important first step towards much needed regulatory clarity for this vital subset of the financial system. [Read Letter]
|
|
|
Trade Groups for CDFIs & MDIs |
Letter: Risk Mitigation for Market Participants & New Entrants |
Last week, top crypto industry groups and enterprises sent a letter to key Senate Committees to ensure market participants and new entrants have multiple, and safe access points to digital assets. Signatories include Blockchain Foundation, The Digital Chamber, Blockchain Association, Crypto Council for Innovation, Chamber of Progress, Decentralization Research Center, Crypto.com, Plume, Bodin Advisory LLC, Storj Institute, FinClusive, Hekaton LLC., and other entities.
This is a unique moment in policymaking and rulemaking. The proposal for a federal study of CDFIs and MDIs in the Senate digital assets market structure legislation is a simple, but important first step towards much needed regulatory clarity for this vital subset of the financial system.
It took NCUA years to develop digital assets guidance for credit unions — and NCUA is their only regulatory body. It will likely be more complicated to develop similar guidance for CDFIs and MDIs. In the meantime, these institutions are relegated to the sidelines, while their consumers are fueling growth of digital assets. Surely, market participants should have more options than crypto ATMs.
|
|
|
Engaging Community Finance Trade Groups |
|
|
Oct 6: Cleve Mesidor joined Marisa Calderon, CEO of Prosperity Now, for a fireside chat during the Prosperity Summit.
|
|
Oct 2: Cleve Mesidor attended the National Bankers Association Annual Conference in DC focused on driving growth for MDIs and CDFIs.
|
|
|
Oct 22: Cleve Mesidor, Chrissi Johnson, Estuardo V. Rodriguez were speakers on a panel titled “Crypto Demystified: What Decentralized Finance Means for Mission-Driven Lending” during the recent Opportunity Finance Network conference in DC.
|
|
Next month, the findings from the survey and focus groups will be released from the National Research Initiative focused on CDFIs and MDIs, which is funded by a W.K. Kellogg Foundation grant, in collaboration with Blockchain Foundation, Prosperity Now, Intersect Public Affairs.
|
|
|
-
U.S. Regulator That May Rule Over Digital Assets Pushing Toward Crypto Spot Trading. The CFTC's interim boss, Caroline Pham, is said to be personally guiding exchanges on launching compliant products as she also overhauls the agency. - CoinDesk
|
-
Coinbase CEO Brian Armstrong flips prediction markets with last-minute earnings call word salad. Bettors on platforms such as Kalshi had wagered that the crypto exchange boss would say words like ‘Bitcoin’ and ‘Web3.’ He handed them a win. - Fast Company
|
| -
Editorial: The rise of data centers, crypto mines and smart manufacturing and how the Lehigh Valley is planning for it, by Becky Bradley is executive director of the Lehigh Valley Planning Commission. - The Morning Call
|
-
Consumer Reports pushes stablecoin rules. The consumer group said Genius Act regulations must protect consumers from potential risks in the stablecoin market. - Payments Dive
|
-
Stablecoin Use for Payments Jumps 70% Since US Regulation - Bloomberg
|
|
|
THE GET DOWN: BEYOND BITCOIN PODCAST |
| |
|
Stream all episodes with host Ritzy P on your favorite platform.
|
|
|
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 $4 trillion crypto industry.
Cleve Mesidor, CEO & Managing Editor
Ashlynn Mesidor, CTO & Co-Founder
|
|
|
Manage your preferences | Opt Out using TrueRemove™
Got this as a forward? Sign up to receive our future emails.
View this email online.
|
1400 W. Lombard Street Suite 843 | Baltimore, MD 21223 US
|
|
|
This email was sent to ashlynn@butterscotch.media.
To continue receiving our emails, add us to your address book.
|
|
|
|
