Beth Ble @bethble

I’m exited that @Anchorage Digital’s Head of Global Operations, Rachel Anderika, is testifying before the @FinancialCmte today at 10am. Topics will range from bank licensing, the future of payments, stablecoins, and access to payment accounts at the Federal Reserve. Tune in here: financialservices.house.gov/calendar/event…

Senate Faces New CLARITY Act Push Digital Chamber CEO, Cody Carbone, testified before the Senate Banking Committee Tuesday, arguing the CLARITY Act would lower costs on remittances, payments and asset transfers. He cited Fed data showing 37% of adults cannot cover a $400 emergency expense. Carbone also cited World Bank data showing the global average remittance cost sits at 6.36%, more than double the 3% international target. He argued blockchain-based payments could close that gap significantly for the millions of lower-income households relying on cross-border transfers.

Like many in this industry, I was drawn to crypto because I believe this technology can meaningfully benefit people when it is allowed to develop responsibly: by expanding access to financial services, giving individuals greater control over their assets, supporting open-source innovation that makes financial infrastructure more transparent and secure, and keeping the next generation of finance and the internet in the United States. Reading this letter, there is a fundamental misunderstanding about what the Clarity Act does. As a reminder, the Clarity Act: - applies BSA and sanctions obligations – including SARs reporting – to all digital commodity brokers, dealers, and exchanges (sec. 201) - creates a new special-measure authority for digital asset-related illicit finance – which gives Treasury significantly stronger tools to combat illicit activity in the digital asset ecosystem (sec. 303) - brings controlled, ‘DeFi in name only’ protocols into the regulatory perimeter (sec. 301) - creates a safe harbor for temporary holds on suspicious transactions, allowing stablecoin issuers and digital asset service providers to place short, good-faith holds based on suspected unlawful activity or a written law enforcement request (sec. 305) - strengthens seizure and forfeiture tools by adding digital assets to the definition of “monetary instruments” in the Bank Secrecy Act (sec. 307) - requires intermediaries connecting customers to DeFi to maintain risk-management programs addressing money laundering, sanctions evasion, fraud, and market manipulation (sec. 308) - establishes an information sharing program between private sector entities and federal law enforcement to share information about illicit finance risks and threats (sec. 203) - creates a federal working group on illicit finance with the mandate to develop proposals to improve anti-money laundering efforts related to digital assets (sec. 204) And Section 604 does one narrow thing: It prevents non-custodial software developers from being misclassified as money transmitters when they do not custody assets or control transactions. It does not immunize criminals. It does not limit sanctions enforcement. It does not stop prosecutions for money laundering, fraud, or terrorist financing. I agree with the signatories of the letter: Regulatory certainty should never come at the expense of accountability, transparency, victim protection, or public safety. Fortunately, the Clarity Act does not force a choice between innovation and public safety. Without Clarity, we are left with the status quo: gaps in oversight, no expanded BSA/AML obligations for key digital asset intermediaries, limited tools for federal agencies, and more activity pushed offshore and outside the U.S. regulatory perimeter. That outcome serves no one. Not consumers, not law enforcement, not responsible innovators, and not the United States. To the signatories of this letter: We share the same goal. We must hold bad actors accountable. We must protect consumers. We must ensure this technology develops under American rules. The answer is to pass a framework that brings digital asset activity into the regulatory perimeter, gives law enforcement strong, effective tools, and makes clear that innovation and accountability are not competing values.

Eleanor Terrett @EleanorTerrett

20 hours ago

🚨NEW: In a letter to administration officials, a group of four law enforcement organizations say they remain concerned about certain provisions in the Clarity Act, including Section 604 (the Blockchain Regulatory Certainty Act), arguing it would create gaps in oversight and

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@beyond_broke What if the LLC’s managing member is a trust, with co-trustees? Taxable event?

@MrsErikaKirk RISE UP PEOPLE!!!!!

This will be the best 6 minutes of your day. 🥰

@dom_kwok Hey @dom_kwok, that article is from September 27, 2023. Why issue caution now? ⚠️ ⛔️

@elonmusk This has been a test of the Elon Musk hiring system. 😂

@elonmusk Ummmm. Is that MY (and YOUR) taxpayer-paid-for wall that is being stolen—I mean—sold???

@60Minutes Disappointed that you used a counter point “source” with zero experience in crypto. Background check??? He spewed the narratives of an anti crypto position and was factually incorrect most (if not all) of the time. Sad day for journalism. Balancing the story gets an “F”.

@redactedhuman @EleanorTerrett @60Minutes @TMZ TMZ actually gets the story…CBS lost at least 50% of the facts and even less for content.

Good Friday, friends! Make it count! ❤️🌻

I posted this in 2017 on FB. I have a feeling it may be helpful again. The more you know….⭐️ {FLASHBACK 11/7/2016} We have ONE DAY LEFT till all the ballots need to be in...but the 2016 Presidential election MAY NOT be over. Do you understand WHY?   npr.org/2016/11/06/500…

@elonmusk LOL

@elonmusk If you don’t have consequences, it just keeps going…

@C__Herridge Question: WHY are the agents not giving this 30-second, $4.00 test?? Have they been directed? Who is allowing this ignorance of their job? If I work at a burger joint, I can’t just neglect to cook the hamburger patties. It would be considered a danger to the public.

@theGAnerds_Real If these audit findings are legit, there needs to be a massive overhaul in the way United States citizens vote!! @LaraLeaTrump @EricTrump @DonaldJTrumpJr @elonmusk

@CNN @MSNBC Question: why did you not cover speaker Tucker Carlson? Honest question. Why?

@MelissaStruxne2 @LouAZMerrijul @SebGorka TMZ

@RippleXDev @JoelKatz Way to make me spray my coffee this fine morning....