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The Week In Crypto Policy: NDAA Amendments, Senate Approps Hearing

Jun 14, 2024 ⋅  7 min read

As part of the National Defense Authorization Act, the House is considering two blockchain amendments, including one to establish a working group on blockchain and smart contracts at the Department of Defense, which was approved by voice vote. In the Senate, SEC Chair Gensler and CFTC Chair Behnam appeared before the Senate Appropriations Committee. There, Senator Bill Hagerty (R-TN) urged SEC Chair Gensler to provide regulatory clarity and approve spot Ether ETPs, Senator Chris Van Hollen (D-MD) keyed in on illicit finance concerns, and Senator Dick Durbin (D-IL) expressed skepticism about giving the CFTC oversight authority over the crypto market. On the presidential campaign trail, former President Trump met with Bitcoin miners and stated he wants all Bitcoin made in the USA, while President Biden's campaign mulls accepting crypto donations.

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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.

About the author

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.