Bash4j
Active member
The crypto space has been in the regulatory crosshairs since investors were burned last year by the sudden collapses of FTX, Celsius Network, Voyager Digital bankruptcy, LUNA crash, and other companies.
A key congressional committee initiated the long-awaited bill that aims to develop a regulatory framework for cryptocurrency.
The bill has galvanized many in the crypto industry cos this is the first time a crypto regulatory bill was put to a vote in Congress, A few supported like Kristin Smith, CEO of the Blockchain Association, and Miller Whitehouse-Levine, CEO of the DeFi Education Fund who said with Democrats' support, the bill could have a shot in the Senate.
The bill would define when a cryptocurrency is a security or a commodity and expand the Commodity while clarifying the Securities and Exchange Commission's jurisdiction, as many crypto advocates complain of the agency's perceived overreach.
While other jurisdictions like the UK, the [European Union], Singapore, and Australia have moved forward with clear regulatory frameworks for digital assets and successfully License Centralized crypto exchanges like Bitget OKX and a few others the United States is at risk of falling behind.
While other Lawmakers like Maxine Waters oppose the bill and said it will create more confusion and offer consumers and investors fewer protections than they have currently, I see this as another major victory to the crypto industry.
What are your thoughts?
A key congressional committee initiated the long-awaited bill that aims to develop a regulatory framework for cryptocurrency.
The bill has galvanized many in the crypto industry cos this is the first time a crypto regulatory bill was put to a vote in Congress, A few supported like Kristin Smith, CEO of the Blockchain Association, and Miller Whitehouse-Levine, CEO of the DeFi Education Fund who said with Democrats' support, the bill could have a shot in the Senate.
The bill would define when a cryptocurrency is a security or a commodity and expand the Commodity while clarifying the Securities and Exchange Commission's jurisdiction, as many crypto advocates complain of the agency's perceived overreach.
While other jurisdictions like the UK, the [European Union], Singapore, and Australia have moved forward with clear regulatory frameworks for digital assets and successfully License Centralized crypto exchanges like Bitget OKX and a few others the United States is at risk of falling behind.
While other Lawmakers like Maxine Waters oppose the bill and said it will create more confusion and offer consumers and investors fewer protections than they have currently, I see this as another major victory to the crypto industry.
What are your thoughts?