US Senators Propose Crypto Regulation Amendment in National Defense Authorization Act

BSV Blockchain

October 26, 2023

The Treasury and IRS extend the comment period for the proposed crypto broker reporting rule and the SEC acknowledges Grayscale's application to convert ETHE into an ETH ETF. Furthermore, the SEC and LBRY Inc. settle their dispute over unregistered securities.

The BSV Blockchain Gazette is presented by Bryan Daugherty, Global Policy Director for the BSV Blockchain Association, featuring:

• Sens. Cynthia Lummis and Kirsten Gillibrand
• The US Treasury and IRS
• The SEC
• LBRY Inc.
• SEC Commissioner Hester Pierce
• The DC Circuit Court of Appeals
• US District Judge Analisa Torres
• US Bankruptcy Judge John T. Dorsey
• Binance
• Coinbase

Bipartisan Push for Crypto Regulation in FY 2024 NDAA Amendment

Sens. Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) are pushing for their amendment to prevent the use of crypto assets in illicit transactions to be included in the FY 2024 National Defense Authorization Act (NDAA).

Extension of Comment Period on Crypto Broker Reporting Rule

The Treasury Department and IRS are extending the comment period to November 13 on their proposed rule surrounding reporting requirements for crypto brokers.

SEC Acknowledges Grayscale's Application for ETH ETF Conversion

The SEC confirmed receipt of Grayscale’s application to convert its Grayscale ETH Trust (ETHE) into a spot ETH ETF.

SEC and LBRY Inc. Reach Agreement on Securities Challenge

The SEC and crypto-based media project LBRY Inc. signed an agreement stating that LBRY would drop its challenge to a New Hampshire federal court ruling that found it sold unregistered securities.

SEC Commissioner Argues Alternative Approaches at Money 20/20

At the Money 20/20 conference in Las Vegas, SEC Commissioner Hester Pierce argued that fighting crypto cases in court and regulating by enforcement may not be the best uses of SEC resources.

DC Circuit Court Resolves Dispute over Grayscale's BTC ETF Application

The DC Circuit Court of Appeals formally closed the dispute between the SEC and Grayscale, with a final ruling effectively ordering the agency to reconsider Grayscale’s spot BTC ETF application.

Ripple Executives' Legal Battle Comes to an End

US District Judge Analisa Torres signed the order dismissing the SEC’s case against Ripple executives Brad Garlinghouse and Chris Larsen.

FTX Trading Granted Extension to Keep Customer Names Confidential

US Bankruptcy Judge John T. Dorsey ruled that FTX Trading can keep the names of its customers sealed for another three months while it markets the platform.

Binance Challenges CFTC's Jurisdiction in Legal Motion

Binance filed a motion to dismiss the CFTC’s case against the company, criticizing the overreaching jurisdiction of the agency.

Coinbase Counters SEC's Claims in Motion to Dismiss Case

Coinbase filed a motion to dismiss the SEC’s case against it, arguing that the agency’s claims that crypto tokens listed on the platform are unregistered securities stretches the definition of investment contracts to a point that is “irreconcilable” with decades of case law.