Congress Still Committed to Advancing Crypto Market Structure Legislation |
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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After Failed Vote, Democrats Recommit To Advance Clarity |
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On Sept 16, Senators Ruben Gallego (D-AZ), Kirsten Gillibrand (D-NY), Angela Alsobrooks (D-MD), Cory Booker (D-NJ), Catherine Cortez Masto (D-NV), Mark Warner (D-VA), and Raphael Warnock (D-GA) issued the following statement regarding the CLARITY Act:
“Democrats have spent the last two years working to pass crypto legislation that would expand opportunity, protect consumers, punish bad actors, create regulatory certainty, and include strong, commonsense ethics provisions for elected officials. This week was a setback, but not the end of that important work. We remain committed to working in a bipartisan fashion to get this legislation passed.”
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Ways & Means Cmte Approves Crypto Tax Bill
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Read statement from Ways and Means Committee Chairman Jason Smith (MO-08).
Rep. Don Beyer (D-VA), the Senior House Democrat on Congress’ Joint Economic Committee and member of House Ways and Means Tax Subcommittee, delivered the following remarks explaining his no vote.
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HFS Banking Field Hearing Last Week
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Last Friday, the House Financial Services subcommittee on Financial Institutions hosted a Field Hearing: "Main Street Capital Access Act: Empowering Community Banks to Drive Economic Growth.”
Read remarks by Subcommittee Chairman Andy Barr (KY-06).
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SEC Clears Path For Tokenization of Stocks |
"Tokenization has the potential to modernize core market infrastructure functions, such as issuance, trading, transfer, settlement, and recording ownership, with the potential to reduce costs, enhance transparency, and expand liquidity."
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What We're Reading & Writing |
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Crypto Blew Its Big Moment—and the Blame Game Has Begun. Coinbase CEO Brian Armstrong was at the center of a protracted fight over the role of digital assets in mainstream finance…Sen. Angela Alsobrooks was wrapping up her holiday break this January when she noticed a message on her phone. It was a voicemail from Coinbase Chief Executive Brian Armstrong, and it was about three-minutes long. - WSJ
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Cryptocurrency Bill Demise Schools Industry in Washington’s Ways. The cryptocurrency sector, a nascent industry with an accelerating Washington influence operation, just got a taste of an age-old lobbying gospel — it’s a lot easier to block a bill than to get one signed into law. - Bloomberg
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- CFTC files crypto asset rulemaking with White House, pressing ahead without Congress. - The Block
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The Senate Banking Committee is set to host a Republican-only roundtable on prediction markets. - Punchbowl
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Polymarket’s Rush to Grow Left a Door Wide Open For Fraudsters. CEO Shayne Coplan brushed off concerns about scheme involving stolen debit cards; now the prediction market is bolstering executive ranks as it eyes IPO. - WSJ
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LeBron James reportedly getting $15 million annually in Polymarket deal as NBA endorsements face more scrutiny. - CBS Sports
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Failure Of Crypto Clarity Act Cloture Vote Not A Surprise. - Forbes
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Ways and Means approves crypto tax bill on bipartisan vote. Members also advanced a fix to last year’s GOP megabill to make gambling losses fully deductible. All but five Democrats voted to forward the bill on to the House, a victory for Chair Jason Smith (R-Mo.) in what could be his final markup as head of the panel. The vote was 38-5. - POLITICO
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Last Friday, Blockchain Foundation partnered with the Congressional Black Caucus to host an interactive crypto roundtable alongside ALC55 - CBC Chair's Suite/New Money. The focus was on legislative strategies to foster small business growth and infrastructure modernization for community-based financial institutions. We were joined by CBC Chair Yvette Clarke and U.S. Reps. Don Davis (NC-O1), Bobby Scott (VA-03), Glenn Ivey (MD-04). CBC Executive Director Vincent Evans moderated the discussion, along with Blockchain Foundation Board Members Cleve Mesidor and Dominique Little. Special thanks to our dynamic speakers: Ebony Thompson, City Solicitor of Baltimore City, and Natalie Madeira Cofield, CEO of Association for Enterprise Opportunity.
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Last Wednesday, Crypto.com collaborated with Blockchain Foundation to jumpstart a discussion about the impact of digital assets and blockchain technology during the Congressional Black Caucus Foundation Annual Legislative Conference in DC. Speakers included Rashan A. Colbert, U.S. Policy Director at Crypto Council for Innovation and Cleve Mesidor, Executive Director at Blockchain Foundation.
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Thurs: Blockchain Foundation Executive Director Cleve Mesidor will speak at the Blockchain & Public Trust Summit hosted by Women In International Security (WIIS) in partnership with the Embassy of Liechtenstein.
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BLACK BLOCKCHAIN SUMMIT 9/25-26 |
Sat: Kevin Harris from Crypto.com and Cleve Mesidor will speak on panel about the State of Crypto during Black Blockchain Summit at Howard University.
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THE GET DOWN: BEYOND BITCOIN PODCAST |
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Stream all episodes from seasons one and two 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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