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The Week In Crypto Policy: SEC Oversight Hearing, a SAB 121 Fix, and Banking Reform
This week, the House Financial Services Committee grilled SEC Chair Gensler on a broad array of crypto-related issues, and Senate Banking advanced a bill that could help address Operation Chokepoint 2.0 concerns.
Key Insights
- House Financial Services Committee Members questioned SEC Chair Gensler for over four hours, covering various crypto-related issues from the SEC's jurisdictional limits to spot Bitcoin ETFs.
- Reps. Mike Flood (R-NE), Ritchie Torres (D-NY), French Hill (D-AR), and Wiley Nickel (D-NC) introduced a bipartisan bill aimed at making it easier for banks to custody crypto assets for customers.
- Senate Banking Committee advanced a cannabis banking reform bill that included a provision aimed at preventing federal banking regulators from pressuring banks to de-bank politically disfavored industries.
HFSC Hearing on SEC Oversight
Overview
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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.