As Congress closes out the 118th Congress, House leaders elected new committee chairs for the next session, placing Representatives with pro-crypto track records at the head of key committees of jurisdiction. In the Senate, SEC Commissioner Caroline Crenshaw’s confirmation is in limbo after Senate Banking Chairman Sherrod Brown (D-OH) was forced to delay the committee vote, first citing “attendance issues,” and then blaming “corporate special interests” for the delay. On the Operation Choke Point 2.0 front, Senator Tim Scott (R-SC) discussed debanking at a Senate Banking hearing, and a federal district court ruled the FDIC needs to be more transparent with letters the agency sent to banks in 2022 ordering them to pause all crypto-related activity. Rep. Mike Carey (R-OH) is asking Treasury and the IRS to refrain from finalizing any rule that would apply digital asset broker tax reporting requirements to self-custody wallet providers.
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