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CeFiWire Most Read for July 28: A House Divided
What was news for the week ending July 28, 2023.
The final week of July saw Securitize enter the Spanish market for tokenized securities, meaning that it will soon have tokens on its platform traded on three continents: North America, Asia and Spain. WisdomTree also filed to create a new member of its tokenized mutual fund family: this time a money market fund investing in U.S. Treasuries that will compete in what has become the hottest category for onchain asset management this summer.
Finally, Congress introduced a number of bills, including the Financial Innovation and Technology for the 21st Century Act (FIT) (HR 4763). That bill was marked by the drama of Maxine Waters (D. CA) leading a walkout of the Democrats on the House Financial Services Committee prior to the bill’s market. Twelve hours later the FIT pass out of committee with the votes of six junior Democrats. The contretemps may reveal that the House is divided by party and generations.
Meanwhile, the Senate passed the 2024 National Defense Authorization Act that included an amendment defining crypto anti-money laundering laws offered by two Democrats — Kirsten Gillibrand (D-NY) and Elizabeth Warren (D-MA) and two Republicans — Cynthia Lummis (R-WY) and Roger Marshall (R-KA). That bill no goes to reconciliation with a defense bill passed by the House earlier this summer.
— Sean Hanna, Editor
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