Bitcoin SV

<p><img src="https://media.licdn.com/dms/image/C4D0BAQGBc3KzyqgZpQ/company-logo_100_100/0/1630682957789/bsvblockchain_logo?e&#61;1708560000&amp;v&#61;beta&amp;t&#61;ckiF4tmL6HRiga2FIJib3moPqZFTsZqKBmnp7m-tSMM" /></p><h2 id="header-0"><a href="https://www.linkedin.com/company/bsvblockchain/" rel="noopener noreferrer nofollow">BSV Blockchain</a></h2><p>November 20, 2023</p><p>House Financial Services Chair Patrick McHenry and Sen. Cynthia Lummis lead a bipartisan effort urging prudential regulators to clarify that SEC Staff Accounting Bullet 121 is not enforceable. While Sen. Elizabeth Warren advocates for seniors in a Senate Special Committee on Aging hearing, emphasizing the risks of crypto scams and supporting the Digital Asset Anti-Money Laundering Act.</p><p>The BSV Blockchain Gazette is presented by Bryan Daugherty, Public Affairs Director of Americas for BSV Blockchain, featuring:</p><ul><li><a href="https://www.linkedin.com/company/house-financial-services-democrats/about/" rel="noopener noreferrer nofollow">House Financial Services Committee</a> Chair Patrick McHenry</li><li>Sens. Cynthia Lummis and <a href="https://www.linkedin.com/in/senatorelizabethwarren/" rel="noopener noreferrer nofollow">Elizabeth Warren</a></li><li>Rep. <a href="https://www.linkedin.com/in/french-hill-25b693194/" rel="noopener noreferrer nofollow">French Hill</a>, Rep. <a href="https://www.linkedin.com/in/gotowd/" rel="noopener noreferrer nofollow">Warren Davidson</a></li><li>CFTC Commissioner <a href="https://www.linkedin.com/in/christy-goldsmith-romero-29496b135/" rel="noopener noreferrer nofollow">Christy Goldsmith Romero</a></li><li>Zhong Shi Gao, Fei Jiang, Naifeng Xu (accused of fraud and crypto laundering)</li><li>GSB Gold Standard Bank</li><li>State securities regulators in Texas, California, Alabama, Wisconsin, and the Canadian province of British Columbia</li><li>Presidential Candidate <a href="https://www.linkedin.com/in/vivekgramaswamy/" rel="noopener noreferrer nofollow">Vivek Ramaswamy</a></li><li><a href="https://www.linkedin.com/company/international-organization-of-securities-commissions-iosco-/" rel="noopener noreferrer nofollow">International Organization of Securities Commissions</a> (IOSCO)</li></ul><h3 id="bipartisan-effort-challenges-sec-rule-mchenry-and-lummis-lead-call-for-clarification">Bipartisan Effort Challenges SEC Rule: McHenry and Lummis Lead Call for Clarification</h3><p>House Financial Services Chair Patrick McHenry (R-NC) and Sen. Cynthia Lummis (R-WY) led a bipartisan letter to the prudential regulators, urging them to clarify that SEC Staff Accounting Bullet 121 is not enforceable, given the GAO’s finding that it constitutes a rule.</p><h3 id="sen-elizabeth-warren-advocates-for-seniors-in-senate-hearing-on-crypto-scams">Sen. Elizabeth Warren Advocates for Seniors in Senate Hearing on Crypto Scams</h3><p>At a Senate Special Committee on Aging hearing, Sen. Elizabeth Warren (D-MA) highlighted the dangers of crypto scams for seniors, and advocated for her Digital Asset Anti-Money Laundering Act.</p><h3 id="house-financial-services-committee-explores-crypto-oversight-amidst-prudential-regulator-scrutiny">House Financial Services Committee Explores Crypto Oversight Amidst Prudential Regulator Scrutiny</h3><p>The House Financial Services Committee held a hearing to conduct oversight of prudential regulators. While crypto was not the primary focus, Rep. French Hill (R-AR) discussed the OCC’s capabilities surrounding stablecoins, and Rep. Warren Davidson (R-OH) asked about the Federal Reserve’s CBDC efforts.</p><h3 id="cftc-commissioner-addresses-crypto-industry-risks-at-financial-services-conference">CFTC Commissioner Addresses Crypto Industry Risks at Financial Services Conference</h3><p>CFTC Commissioner Christy Goldsmith Romero spoke at the Consumer Federation of America’s Financial Services Conference, discussing conflicts of interest and affiliate risk in the crypto industry.</p><h3 id="three-individuals-arrested-in-10-million-fraud-and-crypto-laundering-scheme">Three Individuals Arrested in $10 Million Fraud and Crypto Laundering Scheme</h3><p>The US Attorney’s Office for the Southern District of New York announced that three men, Zhong Shi Gao, Fei Jiang, and Naifeng Xu, have been arrested and charged with a $10 million fraud and crypto laundering scheme.</p><h3 id="multistate-regulators-take-action-against-gsb-gold-standard-bank-over-alleged-crypto-fraud">Multistate Regulators Take Action Against GSB Gold Standard Bank Over Alleged Crypto Fraud</h3><p>State securities regulators in Texas, California, Alabama, Wisconsin, and the Canadian province of British Columbia unveiled cease-and-desist orders against GSB Gold Standard Bank Ltd. over an allegedly fraudulent crypto scheme using multilevel marketing tactics to sell a variety of digital assets as unregistered securities.</p><h3 id="presidential-candidate-vivek-ramaswamy-unveils-ambitious-crypto-regulatory-rollback-plan">Presidential Candidate Vivek Ramaswamy Unveils Ambitious Crypto Regulatory Rollback Plan</h3><p>Republican presidential candidate Vivek Ramaswamy released a crypto plan, vowing to rescind most federal crypto regulations and drastically reduce the SEC’s workforce.</p><h3 id="iosco-releases-finalized-policy-recommendations-for-crypto-and-digital-asset-markets">IOSCO Releases Finalized Policy Recommendations for Crypto and Digital Asset Markets</h3><p>The International Organization of Securities Commissions (IOSCO) published its finalized policy recommendations for crypto and digital asset markets</p>

McHenry and Lummis Lead Bipartisan Push for Regulatory Clarity

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