Friday, May 22 Is Bitcoin Pizza Day |
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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Senate Banking Markup Vote |
Two Democrats, Senators Ruben Gallego (AZ) & Angela Alsobrooks (MD), voted with Republicans to advance the Senate Banking Committee CLARITY bill on a 15-9 vote. As expected, ethics remained a sticking point for Committee Democrats. The next step is a full Senate vote.
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Senator Angela Alsobrooks (MD) Voted Yes
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"I’ve worked to make this bill better. Let me be very clear: my vote today is a vote to keep working in good faith. It does not mean I will be voting for the passage of the CLARITY Act on the floor. We still have work to do."
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Senator Ruben Gallego (AZ) Also Yea
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"My vote today is so we can continue these efforts. But I want to be clear: my vote here does not guarantee a vote on the floor. We have many outstanding issues still to resolve. Toughest and most critical of all is coming to an agreement on ethics guardrails for elected officials."
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AARP Also Supported Senate Bill, Which Regulates Crypto ATMS:
”The bill requires registration of digital asset kiosks, including customer warnings, receipts, anti-fraud policies, risk monitoring, compliance officers, fraud detection, holding periods, and withdrawal limits.”
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| Kevin Warsh Confirmed As New Fed Chair |
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House Ag Calls For CFTC Commissioners |
Last week, House Agriculture Committee Chair Glenn Thompson and Ranking Member Angie Craig sent a joint letter to the Trump Admin:
"We encourage you to nominate a full panel of bipartisan Commissioners to join Chairman Selig in implementing the agenda charted for the Commission...A complete commission will allow the agency to best fulfill its mandate of promoting integrity, resilience, and vibrancy of U.S. derivatives markets and will advance U.S. leadership."
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NCUA GENIUS Rule Making Action |
National Credit Union Administration just announced a Notice of Proposed Rule Making outlining the operational and risk management standards for an NCUA-licensed permitted payment stablecoin issuer, as outlined in the GENIUS Act.
"This proposed rule supports my view that credit unions will face no disadvantage compared to other entities regarding standards" said NCUA Chairman Kyle Hauptman. “Stakeholders will see that we worked diligently to align the standards for NCUA-licensed PPSIs with the standards that are proposed for bank subsidiaries.”
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Rapper Drake released three new albums on Friday, and described himself on one as “a BTC crypto big-timer.” Drake Calls for Sam Bankman-Fried's Release in New, Critically Panned Album. - Decrypt
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Senate Banking approves crypto market structure bill. Lack of support from committee Democrats may portend trouble for the measure on the Senate floor. - Roll Call
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Louisiana Senate approves blockchain ‘task force’ resolution. A blockchain and innovation task force in Louisiana would explore the financial upside to better supporting industries that rely on distributed ledger technology. – State Scoop
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Tokenization Is Being Embraced in the Least Sexy Corner of Finance. The use of blockchain in the repo market is gaining momentum. - Bloomberg
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NCUA’s New Stablecoin Framework Sparks Debate Over CUs’ Best Digital-Dollar Strategy. - CUtoday
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Former CFTC Commissioner Kristin Johnson discusses the series of suspicious oil market trades surrounding news in the Iran war, and how the government, and specifically which agencies, should regulate prediction markets. - CNBC
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Travel Rule 2.0: From Interoperability to the Compliance ‘Last Mile,’ by Sulolit Mukherjee, - Tax Notes
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The biggest midterm donor (so far) is not a person. Andreessen Horowitz is tossing millions of dollars at crypto and AI super PACs. - Morning Brew
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GOP to crypto: Show me the money. Republicans have delivered major wins for the crypto industry in Washington - and they're increasingly frustrated that its biggest political spender isn't stepping up for them in the midterms. - Axios
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Our poll shows Congress’ crypto push isn’t catching on. Voters are broadly skeptical of the crypto industry and don’t view it as an important issue for political candidates, the survey showed. - POLITICO
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8/13 MV CRYPTO POLICY HOUSE |
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Last week, Cleve Mesidor was a speaker for the Institute for Education salon on “Democratizing the Cloud,” which brought together leaders from technology, Capitol Hill, diplomacy, development finance, and public affairs for a cross-sector conversation on the future of digital infrastructure.
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THE GET DOWN: BEYOND BITCOIN PODCAST |
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Stream all episodes 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 $4 trillion crypto industry.
Cleve Mesidor, CEO & Managing Editor
Ashlynn Mesidor, CTO & Co-Founder
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