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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Thurs: NCUA and FDIC to Host Webinar on Financial Scams |
March 12: The National Credit Union Administration (NCUA) will host ‘Financial Education & Frontline Action to Address Scams’ on Thursday, March 12 at 1p.m. The one-hour webinar, hosted in collaboration with the Federal Deposit Insurance Corporation, will focus on today’s most prevalent financial scams and the actions financial institutions can take to reduce risk and protect consumers.
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Three Agencies Clarify Capital Treatment of Tokenized Securities |
Last week, the Federal Deposit Insurance Corporation, Federal Reserve Board, and Office of the Comptroller of the Currency issued a joint statement. It addressed the understanding that a security is often referred to as “tokenized” when ownership rights in the security are represented using distributed ledger technology. The guidance clarified that an eligible tokenized security should generally receive the same capital treatment as the non-tokenized form of the security under the capital rule.
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Federal Reserve Board Requests Comment |
Following earlier actions to remove reputation risk from its supervision of banks, the Federal Reserve Board last week requested comment on a proposal to codify that removal. The proposal reiterates the Board's policy against penalizing or prohibiting an institution from banking a customer engaged in legal activity.
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U.S. Senate housing bill includes CBDC ban. The Senate Banking Committee's bipartisan "ROAD to Housing Act" includes a provision banning the Fed from issuing a CBDC before 2031. - CoinDesk
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Editorial by Morgan State’s Ali Emdad: Can Maryland afford uncertainty in the digital asset era? - The AFRO
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New Research by Former Regulator Nellie Liang and William C. Dudley: Next steps for GENIUS payment stablecoins. What regulators need to do to make them trusted payments and ensure financial stability. - Brookings
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Last week, the Associated Press announced that it will provide its U.S. elections results to Kalshi, the world’s largest prediction market. - AP
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Crypto industry quietly powers negative campaign ads in Illinois. - Axios
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Bank groups ‘deeply concerned’ after Fed grants Kraken master account. - The Block
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Trump slams banks over crypto bill holdup, urges Congress to pass act ‘ASAP’ - The Hill
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Crypto bill hits new impasse, raising doubts over its future. - Reuters
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IRS proposes letting crypto exchanges require electronic delivery of tax forms. The U.S. tax authority has proposed giving crypto exchanges such as Coinbase and Kraken the power to only offer the electronic delivery of 1099-DA tax forms. Starting this year, crypto brokers must report both gross proceeds and cost basis of digital asset sales to the IRS. - The Block
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- Editorial by Linda Jeng: Regulators need to prepare for a more diverse monetary ecosystem. - American Banker
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Stablecoin Firms Bet Big on AI Agent Payments That Barely Exist. - Bloomberg
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Small pacific island launches universal basic income. Rising food prices and limited job opportunities have pushed the Marshall Islands to try a bold economic experiment. While most citizens receive payments through traditional bank transfers or paper checks, the government has also introduced an alternative: cryptocurrency payments. - The Street
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WOMEN'S CRYPTO HISTORY (2020) |
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Cleve's Ode to Women’s History Month: Six Years Ago in Crypto Policy |
On March 4, 2020, then Chairwoman Nydia Velázquez (NY) convened the first crypto hearing of the U.S. House Small Business Committee - Just days before the COVID lockdown that we had no idea was coming.
Dawn Dickson, Blockchain Founder and CEO of PopCom, was among the four leaders who testified. PopCom uses blockchain technology for identity verification.
The back-story is Committee staff reached out to me for a recommendation for a witness. I did not pretend that there are no diverse founders up to the task and recommend myself, as some may. I reached out to Dawn and she stepped up to represent crypto startup founders on Capitol Hill. I wrote her testimony and worked with Jacob Hample at Blockchain Association to prep her. The other women architects were Blockchain Association's Kristin Smith and Digital Chamber's Perianne Boring who both had executives from member companies testifying.
This was an important milestone in crypto policy. Women played an important role in policymaking then, and continue to lead today. I still cannot believe this pivotal moment was six years ago.
Read Testimony
Watch Hearing
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Crypto farewell to the iconic Reverend Jesse Jackson!
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In 2019, Rainbow Push Coalition sparked a conversation about blockchain and cryptocurrency with various crypto leaders, including Cleve Mesidor.
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SEASON 2 COMING THIS MONTH🎙 THE GET DOWN: BEYOND BITCOIN PODCAST |
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Stream all episodes from season 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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