Weekly Focus:
Fed leaves interest rates unchanged, while Chairman Powell says equity markets are a “bit frothy”
Paxos becomes third federally regulated crypto bank (& raises $300 million)
Wyoming DAO law to go into effect in July
DOJ announces arrest of Bitcoin Fog founder who allegedly laundered $335M in crypto
Turkey bans cryptocurrency payments, sets up central custodian
South Korea set to tax crypto trading gains
U.S. Developments
Bipartisan crypto bill passes House of Representatives
Last week, the U.S. House of Representatives passed H.R. 1602, titled “Eliminate Barriers to Innovation Act of 2021.” The bill was first introduced back in March by Representatives Patrick McHenry (R-N.C.) of the House Financial Services Committee and Stephen Lynch (D-Mass.) of the Task Force on Financial Technology. According to the text of the bill, both the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) will jointly establish a wo