🚨NEW: Incoming @CFTC Chairman @BrianQuintenz has started making the rounds on Capitol Hill to meet with Senators ahead of his nomination hearing. Today, he met with Republican Senator from Iowa @ChuckGrassley to discuss CFTC matters, including #crypto spot markets.
Note: Grassley is a member of the @SenateAg Committee, the legislative body that oversees the CFTC and would ultimately have an outsized say in whether the agency could gain expanded jurisdiction over crypto spot markets.
🚨NEW: The Amendment in the Nature of a Substitute (ANS) for the STABLE Act was added to the @FinancialCmte’s website this morning.
The ANS is an updated version of the introduced bill with recent amendments and additions.
This text will be the basis for tomorrow’s markup.
Full text here:
https://t.co/JoY3skR8L9
📢 The wait is over... Excited to share that the XRPL EVM Sidechain is now live on Testnet! 🔥🚀
🤝 In a great collaborative effort between the @RippleXDev, @Axelar, @CommonPrefix and @Peersyst teams, we've been able complete this critical milestone in preparation for the Mainnet launch, which is now just around the corner.
🌐 A new era of interoperability and programmability for #XRP is upon us.
🧵All you need to know here 👇
The only Blockchain Smartphone in South Africa is now at @PicknPay until the 13th of April. Come take a selfie and win awesome prizes like BT headsets, cash and the device itself.
🚨NEW: @Coinbase has submitted a motion in D.C. District Court today, urging the judge in its FOIA lawsuit against @FDICgov to lift the ongoing litigation stay. In the filing, Coinbase says that the FDIC is still withholding crucial documents and failing to cooperate with the exchange’s requests for information.
As I noted in my newsletter this morning, Judge Reyes paused legal proceedings in early February after @realDonaldTrump appointed FDIC Acting Chairman Travis Hill. Hill pledged to increase the agency’s transparency "beyond what is required by the Freedom of Information Act,” while also aiming to honor the spirit of the FOIA request. Reyes suggested that the two parties might be able to reach a resolution more swiftly outside of court but said she wouldn’t hesitate to step back in if that turned out not to be the case.
“We’re asking the Court to resume our lawsuit because the FDIC has unfortunately stopped sharing information,” Coinbase’s Chief Legal Officer @iampaulgrewal tells me. “While we would have loved to resolve this outside of the legal system – and we do appreciate the increased cooperation we’ve seen from the new FDIC leadership – we still have a ways to go to get to the kind of transparency the American people deserve. We won’t stop pressing until we get there.”
The FDIC will likely have the standard two weeks to respond to Coinbase’s request to resume litigation.
Full filing here:
https://t.co/jaUSHsEcSl
🚨NEW: @RepBryanSteil tells me that after Wednesday’s markup, the STABLE Act will be “well positioned to mirror up” with the Senate’s GENIUS Act following a few more “draft rounds” in the House and Senate with technical assistance from the @SECGov and @CFTC.
He believes that the 20% of the bill that deviates from the GENIUS Act represents merely textual differences, rather than anything significant or substantive.
Right now, the biggest differences are the requirements for international stablecoin issuers, state oversight of issuers and some smaller technical differences between the two texts.
“At the end of the day, I think there's recognition that we want to work with our Senate colleagues to get this across the line,” Steil said.
#Ripple and Archax are collaborating to bring "100's of millions of $" to the #XRPL. Archax is in the UK, but announced they have purchased Globacap, an SEC & FINRA regulated broker-dealer/alt trading system to enter the US, renamed Archax Markets US.
🚨NEW: The @BankingGOP has scheduled a committee vote for @SECGov Chair nominee Paul Atkins on Thursday at 10AM EST.
The committee will also vote on Jonathan Gould to be Comptroller of the Currency; Luke Pettit, to be an Assistant Secretary of the Treasury and Marcus Molinaro, to be Federal Transit Administrator.
We’re announcing an exciting and highly impactful partnership with @Ripple today. Ripple is a global leader in digital payments infrastructure, powering over $70B in cross border payments.
With this intergration into the @chippercashapp platform, Ripple Payments will expand their reach into Africa; and millions of people across Africa will be able to receive faster, more affordable payments from around the world.
We’re excited to harness the transformative potential of blockchain technology to enable greater financial inclusion, accelerate access to global markets, and empower businesses and individuals across Africa.
🚨NEW: A Senate aide tells me there will be no committee vote today on Atkins or other nominees, as is typical practice. Nominees will be required to answer questions submitted for the record ahead of a markup vote. The vote will come at a later date, TBD.
As a final question, Atkins was asked about ESG investing by Senator @Jim_Banks when he brought up former Chairman Gensler’s preoccupation with it.
Atkins said he wants to get politics out of the financial markets and out of how the @SECGov interacts with the financial markets.
“That will end and we will have protections in place so money managers are focused on investment strategy and not politics.”
Senator @berniemoreno slams former @SECGov chairman Gary Gensler while addressing Atkins.
“You just have to be able to breathe and not be a complete raging lunatic and you’ll be the greatest SEC commissioner compared to the last guy.”
He went on to call Gensler “objectively one of the stupidest people in government.”
🚨NEW: @SenLummis says she’s been looking for ways to help the government balance its budget since she started in the Wyoming State Legislature at 24 years old. She says she believes a $BTC strategic reserve can help achieve that.
“I’ve been looking for something like a strategic Bitcoin reserve my whole life in order to give a more financially sound government to my daughter and my grandson.”