House of Representatives passes FY 2025 NDAA with blockchain amendments
The House of Representatives passed the FY 2025 NDAA, which includes amendments from Rep. Kat Cammack to explore blockchain's efficiency benefits for the Defense Department and from Rep. Zach Nunn to restrict DOD contracts involving certain foreign blockchain technologies. Meanwhile, New York Attorney General Letitia James recovered $50 million from Gemini on behalf of over 230,000 investors defrauded in the Gemini Earn program.
The BSV Blockchain Gazette is presented by Bryan Daugherty, Public Affairs Director of Americas for BSV Blockchain, featuring:
US
House Approves FY 2025 NDAA with Blockchain Amendments??
The House voted 217-199 to pass the FY 2025 NDAA, including amendments from Rep. Kat Cammack (R-FL) to develop a working group to identify whether blockchain and smart contracts could improve functions and efficiency at the Defense Department, and from Rep. Zach Nunn (R-IA) to prohibit DOD from entering into any contracts for any equipment, system, or service that uses certain blockchain technology or equipment originating from a foreign adversary.
Rep. Wiley Nickel Advocates for Bipartisan Crypto Clarity at Coinbase Summit?
Rep. Wiley Nickel (D-NC) spoke at Coinbase’s State of Crypto Summit, stating that he will not politicize crypto and voicing support for FIT 21 as a bipartisan way to provide clarity for digital assets.
Rep. Brad Sherman Criticizes Crypto Over Energy Use and Illicit Activities?
In remarks on the House floor, Rep. Brad Sherman (D-CA) criticized crypto, voicing concern with the energy usage associated with crypto mining and the use of crypto for tax evasion and illicit activities.
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Rep. Ro Khanna to Host High-Level BTC and Blockchain Roundtable in Washington?
Rep. Ro Khanna (D-CA) is reportedly set to host a BTC and blockchain roundtable in Washington, D.C. in early July, which is expected to feature officials from the Biden Administration, House, and Senate.
David Hirsch Steps Down as SEC Crypto Asset and Cyber Unit Chief?
David Hirsch, Chief of the Crypto Asset and Cyber Unit Enforcement team at SEC, announced that he is stepping down after almost nine years.
Judge Denies Gemini’s Motion in BTC Futures Contract Misstatement Case?
US District Judge Alvin Hellerstein denied Gemini’s motion for partial summary judgment to determine if Gemini is responsible for alleged misstatements made to the CFTC on the safety of its proposed BTC futures contract.
NY Attorney General Recovers $50 Million from Gemini for Defrauded Investors?
New York Attorney General Letitia James announced that the state recovered $50 million from Gemini for more than 230,000 investors who invested in the Gemini Earn program and were defrauded.
EU/UK
FSB Plenary Discusses Implementation of Crypto Asset Financial Stability Recommendations?
The Financial Stability Board (FSB) Plenary met to discuss ongoing work, including implementing FSB’s recommendations for addressing financial stability risks relating to crypto assets.