House Republicans introduce US crypto regulation bill, Melania Trump disregards NASA NFT rules

Happy Friday!

House Republicans introduced a US crypto regulation bill that is intended to clear up uncertainty and protect investors, just as the Justice Department overhauled its crypto enforcement team. NASA may have an issue with Melania Trump after her new NFT used one of its iconic images, and Kuwait banned crypto payments, investments and mining. Read on!

These are some stories we’re looking at right now.

House Republicans propose crypto bill

Republicans in the US House of Representatives proposed a digital assets bill, rewritten after the recent Ripple court decision, that is intended to clear up uncertainty, regulate the crypto sector, and protect investors, according to Rep. Glenn Thompson of Pennsylvania.

The 212-page bill, originally drafted in June, is intended to regulate crypto exchanges and enable them to register with the US Securities and Exchange Commission, CoinDesk reported. The Commodity Futures Trading Commission would have jurisdiction over digital commodities, according to Cointelegraph.

Melania Trump’s NFT defies NASA

Former First Lady Melania Trump may have an issue with NASA after an apparent violation of the federal space agency’s policy against use of its images in her latest NFT.

Her “Man on the Moon” collectible features a 1969 photo of astronaut Buzz Aldrin in the Apollo 11 lunar landing, Decrypt reported.

US crypto enforcement team overhauled

The US Justice Department team that handles cryptocurrency-related crimes is being overhauled, the Wall Street Journal reported, doubling the number of prosecutors amid an expanding caseload.

Senior Justice Department official Nicole Argentieri said the National Cryptocurrency Enforcement Team will become a permanent entity with a new leader, Claudia Quiroz, serving as acting director.

Kuwait bans crypto payments, mining

Kuwait’s Capital Markets Authority banned crypto investments, payments, or mining, adding that businesses cannot offer any services related to cryptocurrencies, CoinMarketCap reported.

The move follows an assessment by the National Committee for Combating Money Laundering and Financing of Terrorism and is intended to comply with the global Financial Action Task Force’s recommendations.

Ex-Binance.US chief joins Hashdex board

Brian Brooks has joined the board of asset manager Hashdex, almost two years after resigning as Binance.US CEO just months into the job, citing “differences over strategic direction,” Decrypt reported.

His time at Binance.US wasn’t mentioned in a Hashdex news release that did feature his time as Coinbase chief legal officer and acting US comptroller of the currency.

What we’re reading around the web

Crypto Funds Linked to Fentanyl Trade Come Mostly From Centralised Exchanges: Elliptic — Decrypt

FTX Seeks to Recover $71M From Its Philanthropic and Life Science Arms — CoinDesk

It Was One of Last Year’s Biggest Crypto Collapses. Here’s an Update on the Mess. — Wall Street Journal