Congressional Crypto Bill Still Reeks of Sam Bankman-Fried, Democrats Say
Republicans want to give the CFTC more jurisdiction over crypto - but most Democrats aren’t having it.
Cryptocurrency regulations have been a hot topic of debate among the community ever since digital assets came into existence.
The debate circles whether legislation on cryptocurrencies will carry positive or negative outcomes for the crypto ecosystem.
Some believe that cryptocurrencies such as Bitcoin should operate on their own, without any regulatory oversight. This comes from one of their predominant and perhaps most essential features – decentralization, or the lack of central authorities. This would put the power entirely in the hands of network participants.
However, and on the other hand, there are a lot who believe that proper and well-defined regulations are a critical step towards mass adoption.
In reality, the tendency seems to be favoring the latter group. The well-known and reputable cryptocurrency companies and exchanges are doing their best to abide by the law in order to deliver further security and to avoid regulatory scrutiny.
This is especially the case in the fields of Know-Your-Customer (KYC) and Anti Money-Laundering (AML) regulations. These are welcomed with mixed feelings by the crypto community because they strip away one of the landmark feats of most cryptocurrencies – privacy.
Republicans want to give the CFTC more jurisdiction over crypto - but most Democrats aren’t having it.
Indonesia has unveiled its national crypto asset bourse which will list licensed crypto companies such as Binance's Tokocrypto.
The lawmaker said that the Treasury "firmly disagrees" with the Committee's stance on regulating the sector.
The advocacy group said that the bill would violate the First Amendment.
The decision to implement these measures is part of Kuwait's efforts to combat money laundering activities.Â
Blockchain technology will be among the key factors to transform commerce and trade in the following decade, Allaire added.
SEC chair Gary Gensler has spoken out for the first time since Ripple’s landmark partial victory against the regulator last
Torres raised concerns over the circumstances Prometheum was granted a special purpose broker-dealer license and SEC's role in it.
Pro-crypto U.S. Senators Lummis and Gillibrand are poised to unveil proposed legislation to determine how crypto assets should be regulated.
The entity might change its stance should watchdogs implement "the right regulatory framework," CEO Sipahimalani said.