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The Week In Crypto Policy: SEC Hearing, New Bills, & Bitcoin Burgers
Key Insights
- The House Financial Services subcommittee on digital assets held a hearing where Members debated the merits of the SEC's current regulation-by-enforcement approach and whether new rules tailored for digital assets would better protect consumers and innovation in the U.S.
- Rep. Zach Nunn (R-IA) introduced a bill to combat pig-butchering and financial fraud by clarifying that the federal government may help state and local law enforcement use blockchain tracing tools.
- House Majority Whip Tom Emmer (R-MN) and HFSC Chairman Patrick McHenry (R-NC) are asking the SEC to clarify the SEC's position on digital asset distributions via airdrops.
- President Trump used bitcoin to purchase cheeseburgers at the Bitcoin-themed PubKey bar in New York City.
HFSC SEC Hearing
On Wednesday, the House Financial Services subcommittee on digital assets held a hearing on “Breaking Down the SEC’s Politicized Approach to Digital Assets.”
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George Leonardo is the founder of Cap Hill Crypto, a solo-entrepreneur venture focused on providing nonpartisan insights and analysis on U.S. federal crypto policy. Previously, he worked on Capitol Hill for Senator John Cornyn and as a litigation associate at Milbank LLP.