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Markup of a bill by Senate Agriculture Committee Chair Debbie Stabenow (MI) to regulate crypto has been pushed to September.

According to Politico, Senator Stabenow recently said that she feels “very good” about Harris’ approach to the issue after discussing it with her...“She knows what we’re doing, and she’s very interested in seeing what happens.”

Diverse Web3 and DeFi builders and leaders hosted a substantive virtual meeting last week to express support for Kamala Harris for President, as well as to discuss policy priorities to foster financial inclusion and capital formation in the $2 trillion crypto market. Speakers called for a regulatory framework that balances consumer protection with measures to advance wealth creation. Among these legislative proposals should be empowering non-traditional retail investors, increasing access to capital for entrepreneurs, workforce training, technological infrastructure incentives for small businesses. Organizers are drafting a letter to send to the Harris campaign.

Excerpt From Bloomberg Article:

Cleve Mesidor, executive director of the nonprofit Blockchain Foundation and a former official in President Barack Obama’s administration, hosted a virtual meeting on Thursday with a few hundred participants from the crypto industry. During the meeting, Mesidor said she and other Harris allies expressed optimism about the potential for a Harris-led White House to positively impact Web3 and decentralized finance, especially for people of color working in the sector. Mesidor said that she has spoken with various Democratic Party members who are close to Harris, and advised the crypto industry to be patient regarding the stance Harris may take on the issue. "With all of the priorities, with all of the various groups that in just a week-and-a-half have really coalesced around her, she’s not going to say ‘my biggest priority is crypto’ or ‘my biggest priority is climate,’” Mesidor said in an interview. “She has to be a leader that is tempered, that is measured, that’s pushing the teams.”

> Last week, the U.S. Commodity Futures Trading Commission issued a customer advisory warning customers of “follow-on frauds.” Read CFTC's Office of Customer Education and Outreach alert that frauds may extend beyond one-time acts and that victims may be targeted multiple times - sometimes by the same criminal gangs.

> New FBI Alert Warns of Scammers Impersonating Cryptocurrency Exchanges.

> Genesis completes bankruptcy restructuring, begins distributing $4 billion in crypto and cash.

In January 2021, diverse leaders in crypto hosted a Biden-Harris Blockchain Inauguration Forum and sent an open-letter to the new Administration calling for inclusive policymaking. Watch video below.

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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 $2 trillion crypto industry.

Cleve Mesidor, CEO & Managing Editor

Ashlynn Mesidor, COO &  Co-Founder