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With new leadership in place for the 119th Congress, many wonder how these Members of Congress will steer their caucuses on the issue of Web3 and DeFi policy - especially sine the largest segment of the crypto ecosystem is Black, Latino, AAPI.

- The Congressional Hispanic Caucus (CHC) has elected Congressman Adriano Espaillat (NY-13) to serve as chair. 

- Congresswoman Yvette D. Clarke (NY-09) was elected to serve as the 29th Chair of the Congressional Black Caucus (CBC).

- The Congressional Asian Pacific American Caucus (CAPAC) has elected Congresswoman Grace Meng (NY-6) to serve as Chair.

Regulatory Agencies with Significant Oversight of DeFi & Web3

- David Sacks for White House Crypto Czar  

- Paul Atkins for SEC Chair  

- Kevin Hassett for Director of the National Economic Council  

- Scott Bessent for Treasury Secretary

- Howard Lutnick for Commerce Secretary

- Federal Reserve Chair Jerome Powell and Vice Chair Michael Barr both recently said that they will not step down

- CFTC Chair Rostin Behnam's 5-year term is through June 19, 2026

- Office of the Comptroller of the Currency TBD

- Consumer Financial Protection Bureau Chair TBD

Dec 11: Senate Banking Committee will vote on whether to renominate SEC  commissioner Caroline Crenshaw, a vocal crypto skeptic.

The Committee will first meet in Executive Session to vote on the following nominations: The Honorable Caroline A. Crenshaw, of the District of Columbia, to be a Member of the Securities and Exchange Commission; and Mr. Gordon I. Ito, of Hawaii, to be a Member of the Financial Stability Oversight Council.

Following the Executive session, the Committee will conduct a hearing entitled, “Consumer Protection: Protecting Workers’ Money and Fighting for the Dignity of Work.” The witness will be: The Honorable Rohit Chopra, Director, Consumer Financial Protection Bureau.

Bitcoin has surpassed the $100,000 mark as the post-election rally continues. 

Bitcoin's meteoric run may have gotten a little extra push from Federal Reserve Chair Jerome Powell. "It's not a competitor for the dollar, it's really a competitor for gold," the central bank leader said at the New York Times' DealBook Summit.

Organizations Lack Defenses Against AI-Driven Fraud!
- By Karen Hsu, Appdome

In the rapidly evolving landscape of cybersecurity, attackers are constantly innovating, using AI-driven attacks to exploit their victims. But many organizations are not ready. In a recent Jack Henry survey of banks and credit unions, 89% of banks and 88% of credit unions are more concerned about digital fraud yet only 14% have AI-enabled fraud detection. 

Read Full Article

Solana Library Backdoor

Cybersecurity researchers are alerting to a software supply chain attack targeting the popular solana npm library that involved pushing two malicious versions capable of harvesting users' private keys with an aim to drain their cryptocurrency wallets.

Fake Video Conferencing Apps

A new scam is leveraging fake video conferencing apps to deliver an information stealer called Realst targeting people working in Web3 under the guise of fake business meetings.

Ethereum co-founder Vitalik Buterin is urging Web3 wallet developers to implement features improving privacy and security. "[A] user only benefits from any decentralization, censorship resistance, security, privacy, or other properties that Ethereum and its applications offer to the extent that the wallet itself also has these properties,” Buterin said in a recent blog post.

As the value of Bitcoin rises, the Brooklyn District Attorney's office is warning New Yorkers about cryptocurrency scams. Brooklyn fields 60% of crypto-related complaints, DA says.

Blockchain Association Policy Summit, Dec 16-17, 2024: Director of Government Relations Ron Hammond will discuss 2025 crypto tax policy with U.S. Department of Treasury’s Sulolit "Raj" Mukherjee, Executive Director of the Office of Digital Asset at the IRS.

several crypto lobbyists are recognized, including FS Vector's Pierre Whatley and Blockchain Association's Kristin Smith. 

Last week at the New York Stock Exchange, Cleve Mesidor was recognized as a "2024 Inspiring Fintech Female" by NYC Fintech Women, which celebrates leaders who are transforming the future of finance and championing representation in the industry. 

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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 over $3 trillion crypto industry.

Cleve Mesidor, CEO & Managing Editor

Ashlynn Mesidor, CTO & Co-Founder