A growing and bipartisan group of senators is rallying behind a crackdown that crypto firms hate.
Sen. Cynthia Lummis — dubbed the Senate’s “crypto queen” — warns that the industry needs to accept the emerging political reality. | Francis Chung/POLITICOHouse Republicans are about to hand the cryptocurrency lobby a big win via legislation that would set up special rules for trading digital assets.Mitt Romney – is rallying behind a crackdown that crypto firms hate, following a wave of scandals and fears that digital currency is ripe for criminal abuse.
They made big advances in winning over Washington in recent years, and that lobbying campaign is helping drive a major victory in the GOP House. But recent revelations of widespread mismanagement and fraud, long-running concerns about crypto’s use to facilitate criminal transactions and the lack of clear economic benefits have left a critical mass of lawmakers unwilling to grant the industry its legislative wish-list scot-free.
“We will accommodate every concern people have with these two bills,” Patrick McHenry said. “That’s our goal.” | Kevin Dietsch/Getty Images and other Republican leaders guiding the effort, like digital assets subcommittee Chair, have spent weeks working with Democrats in a bid to advance legislation that would have a viable shot of becoming law.
“We will accommodate every concern people have with these two bills,” McHenry said. “That’s our goal.”
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.
U.S. House Republicans Introduce Crypto Oversight Bill With Changes From June Draft“The crypto industry wants clarity,” HouseGOP members say. They introduced a new crypto oversight bill this week that aims to establish a regulatory framework to protect investors in the crypto sector.
Read more »
Bitcoin no longer asset of choice for criminals — former Elliptic crypto advisorThe elliptic former head of technical crypto advisory highlights changing trends involving cryptocurrency-related crimes.
Read more »
XRP Holders' Lawyer Predicts What Might End SEC's Plausible AppealICYMI: John Deaton shares what will happen if the SEC appeals XRP ruling Ripple $XRP XRPcommunity XRPArmy
Read more »
From Classroom to Blockchain: How Crypto Fuels Education Companies | CoinMarketCapThe education sector stands on the precipice of transformation, and Crypto presents a remarkable opportunity for financing growth. Education companies can unleash their true potential and make a lasting impact on learners worldwide. 🎓
Read more »