Topic: Majority Senators In U.S. Congress Are Pro-Crypto : SkyBridge Executive Director (Read 147 times)
March 27, 2022, 12:03:49 PM
There are some issues that gain bipartisan support, and it's great when such things happen because otherwise there isn't usually much progress, with one party blocking what another party is trying to do. But I wonder if cryptos are such a matter that can actually unite politicians in the US. If it's based on meeting a few pro-crypto Democrats and a few Republicans, it's not a very good indicator. And agreeing that cryptos should be regulated doesn't mean people will have similar views on how cryptos should be taxed, for instance.
March 27, 2022, 11:05:59 AM
Still, other U.S. politicians have taken a tough stance against crypto. Democrat Senator Elizabeth Warren recently called for tough surveillance of crypto, to prevent Russia from potentially evading sanctions through the medium.
Good luck trying to determine which addresses belong to everyday Russian citizens and convincing all intermediaries to avoid doing business with them...
March 27, 2022, 06:04:08 AM
Republican and Democrat senators appear to be setting aside political differences to collaborate over crypto regulation, according to Kristin Smith, Independent Director at hedge fund SkyBridge Capital.
Republican and Democrat senators appear to be setting aside political differences to collaborate over crypto regulation, according to Kristin Smith, Independent Director at hedge fund SkyBridge Capital.
In a series of tweets, Smith cited several instances where Senators from both parties presented pro-crypto stances, and even introduced crypto-friendly regulation legislation.
Her comments come in the wake of an executive order from President Joe Biden that called for U.S. regulatory bodies to cooperate over constructive regulation in the space. The move was widely welcomed by the crypto community.
SkyBridge’s Smith noted a recent announcement by Republican Senator Cynthia Lummis and Democrat Kirsten Gillibrand at a Politico live event, where they said they were preparing regulatory framework for the crypto industry.
Last week, Republican Senator Tom Emmer headed a group of four Republicans and four Democrats in writing a letter to the Securities and Exchange Commission (SEC) asking the regulator not to impose strict reporting requirements and stifle innovation in crypto.
Emmer also chairs the Blockchain Caucus, a group of Bipartisan Senators dedicated to passing crypto-friendly legislation.
Smith said that while bipartisan cooperation did not necessarily imply that crypto would encounter no regulatory headwinds, it did show that cooperation over the space saw no political boundaries. The sentiment is in line with crypto’s decentralized nature.
Still, other U.S. politicians have taken a tough stance against crypto. Democrat Senator Elizabeth Warren recently called for tough surveillance of crypto, to prevent Russia from potentially evading sanctions through the medium. The SEC has also repeatedly tried to rein-in crypto firms.
While Biden’s order this month marks a positive step for regulation, actual law still remains in its early stages. Regulation passed at a federal level has largely targeted investor protection, while ongoing discussions over the nature of cryptocurrencies are yet to be resolved.
However, several states, including New York, Colorado, and Virginia, have attempted to court the rapidly growing industry by passing crypto-friendly regulation. Colorado allows citizens to pay their taxes in tokens, while Virginia recently allowed banks to offer crypto custody services.
Source: https://www.coinshots.com/news/majority-senators-in-u-s-congress-are-pro-crypto-says-skybridge-director
Republican and Democrat senators appear to be setting aside political differences to collaborate over crypto regulation, according to Kristin Smith, Independent Director at hedge fund SkyBridge Capital.
In a series of tweets, Smith cited several instances where Senators from both parties presented pro-crypto stances, and even introduced crypto-friendly regulation legislation.
Her comments come in the wake of an executive order from President Joe Biden that called for U.S. regulatory bodies to cooperate over constructive regulation in the space. The move was widely welcomed by the crypto community.
SkyBridge’s Smith noted a recent announcement by Republican Senator Cynthia Lummis and Democrat Kirsten Gillibrand at a Politico live event, where they said they were preparing regulatory framework for the crypto industry.
Last week, Republican Senator Tom Emmer headed a group of four Republicans and four Democrats in writing a letter to the Securities and Exchange Commission (SEC) asking the regulator not to impose strict reporting requirements and stifle innovation in crypto.
Emmer also chairs the Blockchain Caucus, a group of Bipartisan Senators dedicated to passing crypto-friendly legislation.
Smith said that while bipartisan cooperation did not necessarily imply that crypto would encounter no regulatory headwinds, it did show that cooperation over the space saw no political boundaries. The sentiment is in line with crypto’s decentralized nature.
Still, other U.S. politicians have taken a tough stance against crypto. Democrat Senator Elizabeth Warren recently called for tough surveillance of crypto, to prevent Russia from potentially evading sanctions through the medium. The SEC has also repeatedly tried to rein-in crypto firms.
While Biden’s order this month marks a positive step for regulation, actual law still remains in its early stages. Regulation passed at a federal level has largely targeted investor protection, while ongoing discussions over the nature of cryptocurrencies are yet to be resolved.
However, several states, including New York, Colorado, and Virginia, have attempted to court the rapidly growing industry by passing crypto-friendly regulation. Colorado allows citizens to pay their taxes in tokens, while Virginia recently allowed banks to offer crypto custody services.
Source: https://www.coinshots.com/news/majority-senators-in-u-s-congress-are-pro-crypto-says-skybridge-director
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