Weekly Crypto Regulation Roundup: Trump Slams Musk, Tim Scott Backs Blockchain, and Broker Rule Gets Buried

Key Points

1. Donald Trump publicly criticized Elon Musk, calling him a 'train wreck' amid Musk's announcement of a new political party formation.

2. Senator Tim Scott emphasized the permanence of digital assets and urged for a balanced regulatory framework during a Senate hearing titled 'From Wall Street to Web3'.

3. The U.S. Treasury Department repealed the controversial broker reporting rule, reverting to pre-2024 guidance that exempts validators and wallet providers from broker classification.

4. Jonathan Gould, a former Bitfury executive with blockchain expertise, was appointed as the new chief of the Office of the Comptroller of the Currency (OCC).