Will political gridlock stop progress on digital assets in Washington?
The principal narrative, articulated by the hearing’s initiators, was that Congress should intervene with its own regulatory project to provide certainty, stop “regulation through enforcement” and address the competition between regulating agencies. But maybe it actually shouldn’t, believe many lawyers as well.
In a hardly surprising move, Representative Stephen Lynch, a Democrat from Massachusetts, laid out the exact opposite position following Hill’s speech. Lynch urged not to fall into the false “industry-fueled narrative” about a turf war between the Commodity Futures Trading Commission and the SEC. He claimed that digital assets registered as securities could not be traded on existing crypto exchanges, none of which are registered as national securities exchanges. Durgee advocated change, proposing to include a number of legal definitions in any future amendments, such as the autonomous smart contract, deployers of the smart contract, liquidity providers and front-end websites operators.
Timothy Massad, a research fellow from Harvard Kennedy School, offer an alternative to the proposed approach of taming the SEC and potentially expanding the CFTC’s powers. “Perhaps the House members who are pro-innovation in the digital asset space could serve as something of a bulwark against executive overreach. But when surveying the ultrapartisan and divided House, it doesn’t seem terribly likely that something tangible will happen at the moment.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Biden, Congressional Leaders to Meet Tuesday in Debt Ceiling ShowdownRaising the stakes, the Tuesday afternoon session comes as Biden is preparing to depart for the Group of Seven summit in Japan where the U.S. leadership will be on the world stage later this week.
Read more »
Virginia man charged in baseball bat attack on congressional staff also facing hate crime chargeA northern Virginia man charged with attacking two staffers for Rep. Gerry Connolly with a baseball bat is also being charged with a hate crime against another woman less than an hour earlier
Read more »
Biden and congressional leaders to meet in debt ceiling showdown as McCarthy pushes for faster dealThe president and House Speaker Kevin McCarthy are trying to strike a budget deal before the U.S. Treasury runs out of cash to keep paying the nation’s bills, which could occur as soon as June 1
Read more »
Soros district attorney previously let congressional staff attacker go freeThe man who sent two congressional staffers to the hospital after beating them with a bat was arrested in January 2022 for attacking a Fairfax County law enforcement officer. He was released with his charges dropped by a Soros-funded Fairfax County DA.
Read more »
President Biden and congressional leaders to meet on debt limit as McCarthy pushes for faster dealPresident Joe Biden is ready to discuss the debt ceiling with congressional leaders at the White House in a high-profile session with reverberations across the globe as early outlines of a potential deal begin to emerge despite painstakingly slow negotiations.
Read more »
Biden and congressional leaders to meet in debt ceiling showdownPresident Joe Biden will discuss the debt limit with House Speaker Kevin McCarthy and congressional leaders at the White House. It's a high-profile Tuesday afternoon session with reverberations across the globe ahead of the president's trip to the Group of Seven summit in Japan.
Read more »