In the US, rumors of a bipartisan stablecoin bill this year are gaining traction [Sarson Funds Primer on Stablecoins]. If a Waters/McHenry bill somehow gets introduced, it would stand a decent shot of passage or inclusion into a must-pass vehicle this year. We view the June SCOTUS decision salvo as yet another nail in the coffin of the era of administration-led domestic policymaking – the President enforces the law but does not create it. We have noted an increase in cynicism (on twitter at least) of Democratic efforts to utilize these events for fundraising purposes. GOP’s prospects for the fall remain “strong” to “quite strong“.
Un-hosted rule kicked back in the US
The US un-hosted wallet rule has been pushed back on the Treasury’s timetable – now listed as a final action in March of next year. Previously it was listed as a potential final rule in September. BSA CTR threshold rule-making ($250 from 3000 for FinCEN regulated entities in Trump era version) is set for a December NPRM, with a two-month comment period. Check out the full agenda here.
Look Ahead:
July 19 – Bloomberg Crypto Summit covering the regulatory outlook; Web 3.0, the Metaverse and Blockchain Gaming; the macro forces in 2022; Cryptos and sustainability; and DeFi “Crypto Winter” outlook.
July 25-29 – Web3 Growth Summit covering the growth of Web3 products.
July 26-28 – Mining Disrupt Expo will be hosting its fourth annual event bringing together innovators, disrupters and professionals minting the blockchains.
August 11 – WSJ CEO Exchange event: Digital Leadership and Transformation featuring Professor Sunil Gupta.
September 13-14 – Blockworks Digital Asset Summit: 2022 in New York City.
September 28 – CNBC’s Delivering Alpha Investor Summit: Crossroads of Risk and Opportunity.
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