Bitcoin SV

<p><img src="https://media.licdn.com/dms/image/C4D0BAQGBc3KzyqgZpQ/company-logo_100_100/0/1630682957789/bsvblockchain_logo?e&#61;1707955200&amp;v&#61;beta&amp;t&#61;UP--a3p1O6lSieLrEnrSRzDeKxlWBF_LS3JTXLaeKwA" /></p><h2 id="header-0"><a href="https://www.linkedin.com/company/bsvblockchain/" rel="noopener noreferrer nofollow">BSV Blockchain</a></h2><p>November 9, 2023</p><p>Senator Ted Budd introduces legislation allowing customers to control digital assets in self-hosted wallets, with Rep. Warren Davidson presenting a House version.CFTC&#39;s FY 2023 results show 96 enforcement actions, yielding $4.3 billion penalties, with almost half related to misconduct in the digital asset realm.</p><p>The BSV Blockchain Gazette is presented by Bryan Daugherty, Global Policy Director for the BSV Blockchain Association, featuring:</p><ul><li>Sen. Ted Budd (R-NC)</li><li>Rep. <a href="https://www.linkedin.com/in/gotowd/" rel="noopener noreferrer nofollow">Warren Davidson</a> (R-OH)</li><li><a href="https://www.linkedin.com/company/commodity-futures-trading-commission/" rel="noopener noreferrer nofollow">CFTC</a> (Commodity Futures Trading Commission)</li><li>Deputy Treasury Secretary Wally Adeyemo</li><li>Federal Reserve Vice Chair for Supervision Michael Barr</li><li><a href="https://www.linkedin.com/company/consumer-financial-protection-bureau/" rel="noopener noreferrer nofollow">CFPB</a> (Consumer Financial Protection Bureau)</li></ul><h3 id="sen-ted-budd-proposes-keep-your-coins-act-for-self-custody-of-digital-assets">Sen. Ted Budd Proposes Keep Your Coins Act for Self-Custody of Digital Assets</h3><p>Sen. Ted Budd (R-NC) introduced the Keep Your Coins Act, which would allow customers to maintain custody of their digital assets in self-hosted wallets and conduct transactions without the need to utilize a third-party intermediary. Rep. Warren Davidson (R-OH) introduced a House version of the bill in July.</p><h3 id="cftc-reports-4-3-billion-in-penalties-highlighting-47-cases-on-digital-asset-misconduct">CFTC Reports $4.3 Billion in Penalties, Highlighting 47 Cases on Digital Asset Misconduct</h3><p>The CFTC released its enforcement results for FY 2023, with the agency filing 96 enforcement actions resulting in over $4.3 billion in penalties, restitution, and disgorgement. Of the 96 enforcement actions, 47 involved conduct related to digital assets.</p><h3 id="biden-administration-seeks-crypto-crackdown-powers-after-hamas-linked-attacks">Biden Administration Seeks Crypto Crackdown Powers After Hamas-Linked Attacks</h3><p>Deputy Treasury Secretary Wally Adeyemo said at the annual meeting of the Securities Industry and Financial Markets Association that the Biden Administration wants new powers from Congress to aid in cracking down on the illicit use of crypto, citing the Hamas attacks.</p><h3 id="fed-vice-chair-warns-unchecked-stablecoins-could-destabilize-us-financial-system">Fed Vice Chair Warns Unchecked Stablecoins Could Destabilize US Financial System</h3><p>Federal Reserve Vice Chair for Supervision Michael Barr said at a DC Fintech Week event that stablecoins could amount to private money that might be destabilizing for the US financial system if left unchecked, and advocated for federal regulation.</p><h3 id="cfpb-proposes-supervision-of-non-bank-companies-potentially-including-larger-crypto-wallet-providers">CFPB Proposes Supervision of Non-bank Companies, Potentially Including Larger Crypto Wallet Providers</h3><p>The CFPB released a proposal to supervise larger non-bank companies that offer services such as digital wallets and payment apps. A CFPB official noted that while the proposal could conceivably allow the agency to supervise larger crypto wallet providers, most of these wallets are not being used for the kinds of purchases that the transaction definition in the proposal would cover.</p>

Biden Administration Seeks New Powers For Crackdown on Crypto-Financing Linked to Hamas

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