Abe Fich

@DigitalChamber hosted an impactful Blockchain Demo Day today in Albany, highlighting real-world use cases alongside members @BSVAssociation and @SpruceID An exciting day of engagement with legislators. Thank you to Banking Committee Chair @clydevanel for hosting us!

🚨NEWS: Wyoming crypto bank @custodiabank has officially filed a certiorari petition with the Supreme Court, asking it to review whether regional Federal Reserve Banks have the discretion to deny eligible state-chartered banks access to master accounts. Custodia has hired a team of legal experts, including white shoe law firm Davis Polk, to argue that the Federal Reserve Bank of Kansas City’s decision to deny Custodia a master account “works a fundamental shift in the balance between state and federal authority over banking,” raises significant constitutional questions about the appointment and powers of Federal Reserve Bank presidents, and threatens the future viability of dozens of banks with innovative business models. It comes after both a Wyoming district court and a divided Tenth Circuit panel sided with the Fed’s interpretation of the Monetary Control Act, finding that the Federal Reserve has broad discretion to deny Custodia access to a master account. As cited in the petition, the Kansas City Fed said its 2023 decision was driven by concerns over Custodia’s crypto-centric business model. Custodia CEO @CaitlinLong_ could not immediately be reached for comment.

A second amicus brief has been filed in the New York Supreme Court case opposing the effort by ‘Noah Doe’ to claim ownership over Satoshi’s coins as “abandoned property” This one was filed by @DigitalChamber with help from @CahillNXT and @stephendpalley of @BrownRudnickLLP

1/6- Yesterday, @DigitalChamber filed an amicus brief in a NY case with big implications. Plaintiffs argue inactive self-custodied wallets can be deemed "abandoned" and claimed by others. That theory is wrong, and the stakes go beyond this case. 🧵

Financial literacy is economic freedom. It's the difference between being protected from the markets and being empowered in them. Honored for our team to represent the digital asset industry at the Congressional Financial Resource Fair. Thank you, @RepYoungKim and @RepBeatty!

Next month, the GENIUS Act turns one, the first federal stablecoin law, and one TDC was proud to help champion. But it was only the start. The real work is the rulemaking. We've filed responses to every proposal from Treasury, FDIC, and more. Track here 👇 bit.ly/4xYKqbY

Ok, I tagged everyone I referenced in the article (shoutout to you all 🧡), & the algorithm is probably judging me for it. Reposting the video here just in case. If 11,000+ words feels like a lot, this is my <4‑minute video, attempting to compress years of research into one explainer. 😅 #Bitcoin #ProofOfWork

Capped off our productive day of meetings on Capitol Hill yesterday at Hawk & Dove. A few captured moments from the festivities ↓

From meetings across Capitol Hill to a TDC member-only Clarity Act briefing with @SenLummis + Senate Banking and @berniemoreno senior staff - @DigitalChamber members showed up today in force to advance market structure And while our members were on the Hill making the case for Clarity, our CEO @CodyCarboneDC testified before Senate Banking on how digital asset innovation can help lower costs and expand opportunity TDC will stay on the ground and keep pushing for clear rules that protect consumers and keep innovation in America 🇺🇸

Big week. @DigitalChamber is blanketing Capitol Hill. Let's go.

Setting my out of office now “Sorry I’m currently playing GTA 6 and will be back in 2-3 weeks”

Next Tuesday, @DigitalChamber CEO Cody Carbone will testify before the Senate Banking Committee on how blockchain-enabled technologies are expanding affordable financial access for unbanked and underbanked communities. At the same time, our team will lead 50+ members across dozens of Senate offices to make the case for passing the Clarity Act!

@CoinDesk x.com/DigitalChamber…

NEW: Illinois Governor Pritzker has signed a 0.2% tax on crypto transactions into law including transfers between personal wallets, with the Crypto Council for Innovation calling it "the most punitive digital asset tax in the country."

I’m honored to represent the @DigitalChamber and have the opportunity to testify next Tuesday (6/23) before the Senate Banking Committee on how digital assets can make life more affordable for Americans. banking.senate.gov/hearings/the-a…

TDC is gearing up for a busy summer and fall. We’re kicking things off at home in DC with fly-ins and a GENIUS Act Anniversary Celebration, then heading to New York and Chicago for our upcoming forums. Seats are filling fast. Explore upcoming events: bit.ly/4edVxGj

TDC is proud to support @RepLanceGooden's Federal Cryptocurrency Theft Enforcement and Coordination Act, legislation that fights crypto crime. No new burdens on lawful businesses, just better law enforcement coordination. Read our letter 👇

Make your voice heard, Illinois. Email Governor Pritzker now to veto SB 3019 and support innovation, consumer choice, and economic opportunity in Illinois 👇 speak4.app/lp/al01vsqp?ts…

@standwithcrypto x.com/DigitalChamber…

Illinois lawmakers passed a new budget at 4 AM, buried inside: a new crypto tax. If you're in Illinois, crypto transactions just got more expensive. Illinois crypto owners, did anyone ask you? Protect your right to own and use crypto. Contact the Governor today 👇

@mt_levalley @amandatums @glzavatone @fund_defi @coincenter @valkenburgh The Digital Chamber & ILBA just sent a letter 🫡 Share with your state officials! x.com/DigitalChamber…

@amandatums @glzavatone @fund_defi @coincenter @valkenburgh If you'd be willing to use your reach to pass this on to get the word out, I'd be very grateful.

🚨NEW: A group of pro-crypto senators is pressing U.S. banking regulators to establish capital requirements for banks’ crypto activities. In a new letter, @SenatorHagerty, @SenDanSullivan, @SenLummis, @berniemoreno, @SenJonHusted and @SenTedBuddNC argue that the Basel Committee’s 2022 capital framework effectively functioned as a ban on banks holding digital assets on their balance sheets with a 1,250% risk weight for assets like bitcoin, and that regulators should adopt a new U.S. framework that is more balanced. The senators point to regulators’ March guidance that tokenized securities should receive the same capital treatment as their underlying assets and argue the same tech neutral principle should apply more broadly to digital assets. The push comes as Congress considers the Clarity Act, which would authorize banks to engage in a broader range of digital asset activities, raising questions about whether current capital rules are compatible with that framework. It also comes as global regulators revisit the Basel crypto capital standards.