Crypto Regulations in Spotlight for FY 2024 National Defense Authorization Act

BSV Blockchain

October 27, 2023

Lawmakers are pushing to include more cryptocurrency regulations in the FY 2024 NDAA, with a focus on crypto terrorist financing through stronger anti-money laundering provisions.

While SEC Chair Gary Gensler discussed the intersection of crypto and regulation at the 2023 Securities Enforcement Forum.

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

• Sen. Elizabeth Warren (D-MA)
• Rep. Andy Barr (R-KY)
• House Financial Services Committee Chair Patrick McHenry (R-NC)
• SEC Chair Gary Gensler

Crypto Provisions Take Center Stage in FY 2024 NDAA Discussions

Lawmakers in both the House and Senate are reportedly looking to include more crypto provisions in the FY 2024 National Defense Authorization Act (NDAA). Sen. Elizabeth Warren (D-MA) said in an interview that she wants to include stronger anti-money laundering regulations in the NDAA to combat crypto terrorist financing. Rep. Andy Barr (R-KY) said he expects House Financial Services Committee Chair Patrick McHenry (R-NC) to use the NDAA to advance a plan to overhaul how the SEC and CFTC police the crypto market.

SEC Chair Gensler Addresses Crypto and Enforcement at 2023 Forum

SEC Chair Gary Gensler spoke at the 2023 Securities Enforcement Forum, focusing on themes of economic realities, accountability, high-impact cases, process, and positions of trust. Chair Gensler also discussed crypto, stating that the vast majority of crypto assets are subject to securities laws, and that the SEC is “not afraid to litigate matters” involving large crypto exchanges.