2020-2-3 01:49 |
10 U.S. congresspeople who will define the future of cryptocurrency and blockchain policy in 2019
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The Financial Innovation and Technology for the 21st Century Act would hurt investors and hamper the U.S. Securities and Exchange Commission's work, SEC Chair Gary Gensler said Wednesday.
Last week, U.S. Senators Cynthia Lummis (R-Wyo.) and Kirsten Gillibrand (D-N.Y.) introduced a joint bill addressing how stablecoins could be regulated in the country. It's the latest effort to try and get something done in the U.S. legislative front – but is it enough?
The U.S. congressional effort to establish regulations for stablecoins has become an increasing longshot for passage this year, but the lawmakers who've pushed legislation the farthest reportedly had a meeting with Senate Majority Leader Chuck Schumer about it, Punchbowl News reported.
The Law Commission also called for evidence on its project on digital assets and electronic trade documents in private international law.
Despite keen interest from U.S. Senate Democrats such as Elizabeth Warren (D-Mass.) to deal with the illicit movement of funds in crypto, there's no immediate action planned in the committee that would need to get it rolling, according to two sources familiar with the plans.
Republican Rep. French Hill and Democrat Rep. Jim Himes see potential future floor votes for crypto bills being key to convincing the Democrat-controlled Senate to play ball.
Besides being short on crypto specialists, the SEC OIG noted a litany of problems that are already familiar — lack of legislative clarity, lack of interagency coordination, etc.