The Crypto Council for Innovation is currently calling for a regulatory reset in the cryptocurrency sector under President Donald Trump to ensure that the US remains competitive in this sector.
This groundbreaking hearing brings together industry leaders, policymakers and financial experts to discuss new legislative solutions that could create a “golden age” of digital assets.
A hearing on Crypto’s Future explores the path from stifling growth to a “golden age”
The hearing covers current blockchain use cases, and sees how the industry was curtailed during President Joe Biden’s tenure, along with other laws to unlock the potential of cryptography in the US. Discuss consumer protection regulations
Key participants include cryptocurrency experts, including Jose Fernandez Da Ponte of Paypal, Jonathan Jachym of Kraken Crypto Exchange, and Timothy Massad of Harvard University.
In his written testimony to Congress, Ji Hun Kim, president and acting CEO of Crypto Council for Innovation (CCI), highlighted the importance of clear and comprehensive digital asset policies at the federal level. He said international competitors such as the European Union, the UK, Japan and Singapore are risking the US falling behind with clear regulations. Kim outlined four important legislative priorities to ensure that the United States remains a global leader in digital assets.
These priorities include passing laws of comprehensive market structure, passing stable laws, strengthening coordination between the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC), decentralized finance and Includes support for individual empowerment.
A unified regulatory framework unlocks Crypto’s potential
As pointed out by Steptoe’s law firm partner Coy Garrison, the SEC, CFTC and FDIC all revoked the crypto business after revoking many restrictions policies implemented during former President Joe Biden’s administration. I’m working to get it back to.
Garrison’s testimony also highlighted the need for Congressional action to oversee digital asset transactions in the spot market, in addition to the SEC’s responsibility to provide regulatory clarity within existing jurisdictions.
This timing is suitable for Congress and administration to work together to implement a much-needed regulatory framework for US digital assets.
Koi Garrison
One of the witnesses is Timothy Massad, a Harvard researcher during the Obama administration and former chairman of the Commodity Futures Committee (CFTC). In his testimony, he offers a detailed criticism of the House of Representatives’ stable bill, a stable act. The Senate also has a Genius Law bill, which is somewhat similar.
Massad prefers enforcement rules creation and clear overregulation. However, he compares defi to driving a car without brakes and is not keen on a self-hosted wallet for a stable wallet.
Meanwhile, he claims that digital assets are primarily used for illegal activities and believes Crypto will remain here.
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