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Maryland Delegate Caylin Young has introduced a bill calling for a bitcoin strategic reserve, much like the one contemplated by U.S. Senator Cynthia Lummis. In Maryland, the reserve would be funded through revenue from the enforcement of gambling violations.

Former NCUA Board Chair Rodney E. Hood has been appointed as Acting Comptroller of the Currency. While at the NCUA, Hood also served as a voting member of the Financial Stability Oversight Council, as the NeighborWorks America Board Chairman, and as Vice Chairman of the Federal Financial Institutions Examination Council.

Senate & House announce the creation of a bicameral working group focused on digital assets and comprised of members of the Senate Banking Committee, House Financial Services Committee, and Senate and House Agriculture Committees, to build consensus around a regulatory framework for digital assets that will ensure innovation happens here in the United States.

Senate Banking Committee members Senators Bill Hagerty and Cynthia Lummis, as well as Senator Kirsten Gillibrand, have introduced the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, legislation to establish a clear regulatory framework for payment stablecoins.

House Financial Services Committee Chairman French Hill and Digital Assets, Financial Technology, and Artificial Intelligence Subcommittee Chairman Bryan Steil released a discussion draft of a bill to establish a framework for the issuance and operation of dollar-denominated payment stablecoins.

CFTC Announces Crypto CEO Forum to Launch Digital Asset Markets Pilot

The Federal Deposit Insurance Corp. is reevaluating its crypto supervision, according to Acting Chairman Travis Hill, and it's released documents in the meantime to further reveal its past communications with U.S. banks that discouraged crypto ties. Less than two hours later, the Senate Banking Committee started a hearing to probe the U.S. regulators' crypto debanking activity. Witnesses testified about being blocked from bank relationships because of regulatory pressure on crypto. 

SEC Commissioner Hester M. Peirce Statement: The Journey Begins
"The crypto road trip on which the newly announced Crypto Task Force has embarked likewise should be more enjoyable and less risky than the crypto road trip the Commission has taken the industry on for the last decade."

White House crypto czar David Sacks Held his First Press Conference [Watch] 

Congressman Steven Horsford is one of only two Democratic Members left on the Congressional DOGE Caucus.

The rapper said he was offered $2 million to launch a memecoin and posted publicly that he was looking to get in touch with Coinbase CEO Brian Armstrong. [Read]

March 8: Crypto Conexion & WealthBuild to host AI & Web3 forum during SXSW in Austin. 

Cleve Mesidor was a speaker during Puerto Rico Blockchain Trade Association's BUIDL HERE conference in San Juan.

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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.

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