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The Responsible Financial Innovation Act – A Bullet Point Summary
From CNN: three major crypto bill all cleared the House on Thursday.Here’s a brief summary of the bills:
The GENIUS Act, which already cleared the Senate in June, would regulate a kind of crypto called “stablecoins.” These tokens are the lifeblood of crypto. Their values are pegged to regular currencies like the dollar, and they act as a bridge
Know Your Customer (KYC): How can we implement zero knowledge KYC obligations while retaining privacy and freedom for individuals, regardless of who they are or where they're from?Smart Contracts: How can smart contracts be recognized as a viable method of optimizing for compliance, just like how we have accountants to optimize for year-end audits... See more
Kaito Cunningham • Compliance is a Spectrum
I start with the most straightforward: social sector organizations accepting crypto donations. Most nonprofits don’t have infrastructure to accept cryptocurrencies, but crypto is the fastest growing asset class in the US, and it will be strategic for nonprofits (and others) to have a crypto-giving plan.
Banks Benitez • White Paper: Opportunities at the Intersection of Web3 and Social Change
Strengthening American Leadership in Digital Financial Technology – The White House
whitehouse.gov
As crypto becomes mainstream, regulation is coming. A united industry that has thought deeply about coordination and scaling issues, and has developed sophisticated institutions that can engage with existing structures will be invaluable. Institutions could support growth, innovation and help to bring crypto mainstream in a way that retains the... See more