Bitcoin SV

<p><img src="https://media.licdn.com/dms/image/C4D0BAQGBc3KzyqgZpQ/company-logo_100_100/0/1630682957789/bsvblockchain_logo?e&#61;1709769600&amp;v&#61;beta&amp;t&#61;2oCLBvi4_dFsg5DY0aNMWIO9n_C6YMIsIiXqiFWgh_0" /></p><h2 id="header-0"><a href="https://www.linkedin.com/company/bsvblockchain/" rel="noopener noreferrer nofollow">BSV Blockchain</a></h2><p>December 1, 2023</p><p>Senate Banking Chair Sherrod Brown voiced concern over House Financial Services Chair Patrick McHenry&#39;s hindrance of finance provisions in the FY 2024 NDAA during a crypto policy disagreement, emphasising potential national security implications, as echoed by Rep. Sean Casten. Simultaneously, the Treasury Department issues sanctions against Sinbad, a virtual currency mixer linked to North Korea.</p><p>In response to these developments, Deputy Treasury Secretary Wally Adeyemo urged Congress to confer additional authority upon the Treasury Department, empowering it to address crypto and fintech platforms utilised by militant organisations.</p><p>The BSV Blockchain Gazette is presented by Bryan Daugherty )Public Affairs Director of Americas for BSV Blockchain), featuring:</p><ul><li>Senate Banking Chair Sherrod Brown (D-OH);</li><li><a href="https://www.linkedin.com/company/house-financial-services-democrats/about/" rel="noopener noreferrer nofollow">House Financial Services Chair</a> Patrick McHenry (R-NC);</li><li>Rep. <a href="https://www.linkedin.com/in/seancasten/" rel="noopener noreferrer nofollow">Sean Casten</a> (D-IL);</li><li>Rep. <a href="https://www.linkedin.com/in/french-hill-25b693194/" rel="noopener noreferrer nofollow">French Hill</a> (R-AR);</li><li>The <a href="https://www.linkedin.com/company/us-treasury/" rel="noopener noreferrer nofollow">Treasury Department</a>;</li><li>Deputy Treasury Secretary Wally Adeyemo;</li><li>Ranking Member <a href="https://www.linkedin.com/in/senatortimscott/" rel="noopener noreferrer nofollow">Tim Scott</a> (R-SC);</li><li>Ranking Member Maxine Waters (D-CA);</li><li>Sen. <a href="https://www.linkedin.com/in/senatorelizabethwarren/" rel="noopener noreferrer nofollow">Elizabeth Warren</a> (D-MA);</li><li>The <a href="https://www.linkedin.com/company/secgov/" rel="noopener noreferrer nofollow">SEC</a>;</li><li>Esteban Cabrera Da Corte (convicted for fraud);</li><li>Genesis Global Holdco;</li><li><a href="https://www.linkedin.com/company/ftx/" rel="noopener noreferrer nofollow">FTX</a>;</li><li>Crypto law firm Hodl Law;</li><li><a href="https://www.linkedin.com/company/coinbase/" rel="noopener noreferrer nofollow">Coinbase</a>;</li><li>The <a href="https://www.linkedin.com/company/commodity-futures-trading-commission/" rel="noopener noreferrer nofollow">CFTC</a>.</li></ul><h3 id="senate-banking-chair-expresses-concerns-over-house-financial-services-chair-39-s-handling-of-finance-provisions-in-ndaa-clash-on-crypto-policy">Senate Banking Chair expresses concerns over House Financial Services Chair&#39;s handling of finance provisions in NDAA clash on crypto policy</h3><p>Senate Banking Chair Sherrod Brown (D-OH) told reporters that House Financial Services Chair Patrick McHenry (R-NC) is holding up finance provisions under consideration in the FY 2024 NDAA amid a clash over crypto policy. Rep. Sean Casten (D-IL) stated that Chair McHenry’s threats to the NDAA are ‘concerning to anyone who cares about protecting national security’.</p><h3 id="rep-french-hill-reveals-house-republicans-39-plans-to-bring-crypto-bills-to-the-floor-early-next-year">Rep. French Hill reveals House Republicans&#39; plans to bring crypto bills to the floor early next year</h3><p>Rep. French Hill (R-AR) said in an interview with CNBC that House Republicans are planning to bring crypto bills to the floor for votes early next year.</p><h3 id="treasury-department-imposes-sanctions-on-sinbad">Treasury Department imposes sanctions on Sinbad</h3><p>The Treasury Department announced sanctions against Sinbad, a virtual currency mixer linked to North Korea.</p><h3 id="deputy-treasury-secretary-urges-congress-to-grant-new-powers-to-tackle-crypto-platforms-used-by-militant-organisations">Deputy Treasury Secretary urges Congress to grant new powers to tackle crypto platforms used by militant organisations</h3><p>Deputy Treasury Secretary Wally Adeyemo wrote a letter to Senate Banking Chair Sherrod Brown and Ranking Member Tim Scott (R-SC), as well as House Financial Services Chair Patrick McHenry and Ranking Member Maxine Waters (D-CA), asking Congress to grant the Treasury Department new power to go after crypto and fintech platforms used by militant organisations like Hamas. Sen. Elizabeth Warren (D-MA) said in an interview that Congress must respond with a comprehensive bill to give the Treasury the tools it needs.</p><h3 id="treasury-deputy-secretary-adeyemo-calls-on-the-crypto-industry-to-combat-illicit-activities-and-outlines-new-tools">Treasury Deputy Secretary Adeyemo calls on the crypto industry to combat illicit activities and outlines new tools</h3><p>Adeyemo also spoke at the BSV Blockchain’s annual policy summit, calling on the crypto industry to do more to prevent digital assets from being used for illicit activities, and outlining new tools the Treasury plans to utilise to go after illicit actors.</p><h3 id="sec-seeks-written-comments-on-spot-btc-etf-applications-from-franklin-templeton-and-hashdex">SEC seeks written comments on spot BTC ETF applications from Franklin Templeton and Hashdex</h3><p>The SEC is requesting written comments on spot BTC ETF applications from Franklin Templeton and Hashdex.</p><h3 id="63-month-prison-sentence-announced-for-individual-defrauding-banks-and-crypto-exchange">63-month prison sentence announced for individual defrauding banks and crypto exchange</h3><p>The US Attorney’s Office for the Southern District of New York announced a 63-month prison sentence for Esteban Cabrera Da Corte for defrauding banks and a crypto exchange out of more than $4 million.</p><h3 id="genesis-global-holdco-granted-permission-to-move-forward-with-chapter-11-plan">Genesis Global Holdco granted permission to move forward with Chapter 11 plan</h3><p>US Bankruptcy Judge Sean Lane permitted Genesis Global Holdco to send its Chapter 11 plan out for a vote, as Genesis reported impending agreements with its parent company and creditors.</p><h3 id="ftx-receives-approval-to-sell-744-million-in-crypto-granted-by-us-bankruptcy-judge">FTX receives approval to sell $744 million in crypto, granted by US bankruptcy judge</h3><p>US Bankruptcy Judge John Dorsey permitted FTX to put $744 million in crypto up for sale.</p><h3 id="crypto-law-firm-seeks-ninth-circuit-clarification-eth-is-not-a-security">Crypto law firm seeks ninth circuit clarification: ETH is not a security</h3><p>Crypto law firm Hodl Law asked the Ninth Circuit to clarify that ETH is not a security to dispel public threats and harassment from the SEC.</p><h3 id="coinbase-notifies-users-of-cftc-subpoena-sets-deadline-for-motion-to-quash-by-30-november">Coinbase notifies users of CFTC subpoena, sets deadline for motion to quash by 30 November</h3><p>Coinbase sent an email to a segment of its users about a subpoena received from the CFTC, stating that Coinbase may have to submit requested information to the CFTC unless a motion is filed by 30 November to quash the subpoena.</p>

Senate Banking Chair raises alarm over NDAA provisions amid national security concerns

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