The Office of the Comptroller of the Currency (OCC) released its supervision operating plan for FY 2024, with a specific focus on issues including cybersecurity, anti-money laundering, and digital ledger technology activities.

The SEC delayed deciding on several additional spot BTC ETF applications, including those from BlackRock, Invesco, Bitwise, and Valkyrie.

Rep. Henry Cuellar (D-TX) tweeted about his recent meetings with Coinbase and Texas crypto and blockchain companies, stating that it was “great to learn about the utility and innovation that cryptocurrency and blockchain offer our country.”

The CFTC filed a civil enforcement action against Mosaic Exchange Limited and its CEO Sean Michael for running a fraudulent digital asset commodity scheme. CFTC Commissioner Kristin Johnson released a statement on the complaint, noting that digital asset fraud puts vulnerable investors at risk.

The SEC filed a litigated proceeding against Brian Amoah and Elbert Elliott, a pair of crypto promoters whom the agency accused of illegally raising $1.5 million in an unregistered offering.

The SEC has delayed making a decision on the ARK 21Shares ETH ETF application until December 26.

Rep. Blaine Luetkemeyer (R-MO) wrote a letter to SEC Chair Gensler and FINRA president and CEO Robert Cook regarding the agencies’ “insufficient” scrutiny of Chinese crypto companies. Luetkemeyer argues that firms such as Webull, Moomoo, and Prometheum "raise serious national security, market integrity, and investor protection concerns" due to their connection to the Chinese Communist Party (CCP).

Reps. Mike Flood (R-NE), Ritchie Torres (D-NY), French Hill (R-AR), and Wiley Nickel (D-NC) introduced the Uniform Treatment of Custodial Assets Act. The bill would prohibit federal agencies from requiring institutions to track assets held in custody as a liability.

SEC Chair Gary Gensler testified before the House Financial Services Committee yesterday. Members questioned Gensler on several of the agency’s proposed rules. Some crypto-supporting lawmakers were critical of the SEC’s enforcement actions on cryptocurrencies. Gensler repeatedly stated that the crypto industry is rife with fraud, abuse, and noncompliance. Rep. Ritchie Torres (D-NY) later tweeted about the hearing, expressing frustration that Chair Gensler could not answer basic questions about the term investment contract, “which is key to determining his authority over crypto.”