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<p><img src="https://media.licdn.com/dms/image/C4D0BAQGBc3KzyqgZpQ/company-logo_100_100/0/1630682957789/bsvblockchain_logo?e&#61;1716422400&amp;v&#61;beta&amp;t&#61;icQyGxwvIX6-LRf5TjuPQtWjAZc0ZCftfZA3J5cDngs" /></p><h2 id="header-0"><a href="https://www.linkedin.com/company/bsvblockchain/" rel="noopener noreferrer nofollow">BSV Blockchain</a></h2><p>10,570 followers</p><p>February 19, 2024</p><p>Open Immersive Reader</p><p>The House Financial Services Committee Subcommittee on Digital Assets conducted a hearing on crypto&#39;s role in illicit finance, concentrating on offshore exchanges, mixers, DeFi, and the potential for law enforcement to leverage blockchain transparency. Additionally, House Financial Services Chair Patrick McHenry addressed the progress of stablecoin legislation, highlighting bipartisan cooperation while awaiting approval from the Biden Administration and the Senate.</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 Subcommittee on Digital Assets, Financial Technology and Inclusion</a></li><li>House Financial Services Chair Patrick McHenry (R-NC)</li><li>Rep. Ritchie Torres (D-NY)</li><li><a href="https://www.linkedin.com/company/federal-reserve-system/" rel="noopener noreferrer nofollow">Federal Reserve</a> Governor <a href="https://www.linkedin.com/in/christopher-waller-73297920/" rel="noopener noreferrer nofollow">Christopher Waller</a></li><li><a href="https://www.linkedin.com/company/secgov/" rel="noopener noreferrer nofollow">SEC</a> (U.S. Securities and Exchange Commission)</li></ul><h3 id="us">US</h3><h3 id="house-subcommittee-deliberates-crypto-39-s-role-in-illicit-finance">House Subcommittee deliberates crypto&#39;s role in illicit finance</h3><p>The House Financial Services Committee Subcommittee on Digital Assets, Financial Technology and Inclusion held a hearing on crypto and illicit finance. Topics of focus included offshore exchanges, mixers, DeFi, and the ways in which law enforcement can leverage the transparent nature of public blockchains. A summary of the hearing is attached.</p><h3 id="house-financial-services-chair-discusses-stablecoin-legislation-progress">House Financial Services Chair discusses stablecoin legislation progress</h3><p>House Financial Services Chair Patrick McHenry (R-NC) said in an interview that Republicans “have an understanding” with Ranking Member Maxine Waters (D-CA) on stablecoin legislation but are still waiting on approval from the Biden Administration and the Senate.</p><h3 id="rep-ritchie-torres-advocates-for-progressive-approach-to-digital-assets">Rep. Ritchie Torres advocates for progressive approach to digital assets</h3><p>Rep. Ritchie Torres (D-NY) discussed digital assets in an interview with Blockchain Tipsheet, laying out the progressive case for digital assets and criticizing the SEC’s regulatory approach.</p><h3 id="federal-reserve-governor-affirms-us-dollar-39-s-global-dominance-amid-crypto-threats">Federal Reserve Governor affirms US Dollar&#39;s global dominance amid crypto threats</h3><p>Federal Reserve Governor Christopher Waller said at an event that the US dollar is likely to keep its preeminent status globally despite recent threats from crypto and the rise of the euro.</p><h3 id="sec-seeks-approval-for-2-2-million-settlement-in-crypto-fraud-case">SEC seeks approval for $2.2 Million settlement in crypto fraud case</h3><p>The SEC asked US District Judge John Badalamenti to approve final consent judgments against Alexander Elbanna and his three companies, which would require Elbanna to pay $2.2 million to end SEC claims around alleged crypto fraud.</p><h3 id="financial-industry-groups-urge-sec-to-amend-guidance-on-digital-asset-custody">Financial Industry Groups urge SEC to amend guidance on digital asset custody</h3><p>Four financial industry groups wrote a letter to the SEC calling on the agency to amend SAB 121, arguing that the guidance makes it more expensive for US banks to hold digital assets for their customers.</p>

House Subcommittee unveils findings on crypto's role in illicit finance

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