Crypto Industry Gets Chance to Make Its Case to U.S. Congress
In a hearing with the loaded title “A Golden Age of Digital Assets,” the sector was — for the first time — mostly treated as a welcome arrival to U.S. finance.
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In a hearing with the loaded title “A Golden Age of Digital Assets,” the sector was — for the first time — mostly treated as a welcome arrival to U.S. finance.
Utah cleared its digital assets bill through the state house, and Kentucky and Maryland introduced their own efforts, making it 18 states working on such bills.
The industry’s U.S. banking crisis may be retreating as a second congressional committee sheds light on how crypto businesses have been treated by regulators.
The country’s central bank is also looking at whether or not to add bitcoin to its reserves.
The fine was levied by the FIU-IND last week.
Caroline Pham, the agency’s acting chairman, is scheduling an experts roundtable to reset the CFTC’s course on this “sinkhole of legal uncertainty.”
FDIC Acting Chairman Travis Hill said the agency is overhauling its crypto approach, just as U.S. senators examined regulators keeping banks out of crypto.
The CFTC’s Division of Enforcement is being reorganized to “refocus” on fraud prevention.
Peirce also urged crypto companies to be patient as the agency decides how to “disentangle” itself from litigation initiated under former Chair Gary Gensler.
Landon Zinda, former policy director for crypto think tank Coin Center, is the task force’s new senior advisor.