In a current interview, Ron Hammond from the Blockchain Affiliation make clear the busy crypto-related actions in Washington, D.C. Hammond identified two essential hearings this week: one involving the Securities and Alternate Fee (SEC) and the opposite addressing digital property on the whole.
Speaking to Thinking Crypto, he mentioned that the one central concern regarding a number of members of Congress is the SEC’s strategy to cryptocurrency and personal fairness. The SEC’s current guidelines have raised considerations inside the trade, and there’s a rising give attention to these issues within the Monetary Companies Committee. Patrick McHenry, the committee’s chief, has vehemently opposed this concern.
Moreover, the Digital Asset Subcommittee, which initially focused on cryptocurrency, is now widening its scope to embody broader fintech and synthetic intelligence (AI) considerations. This enlargement is attributed to the SEC’s elevated oversight over these areas beneath Chairman Gensler.
The Nationwide Safety Subcommittee will host one other upcoming listening to. This session will primarily give attention to the funding mechanisms employed by Hamas for his or her actions. The objective is to research the place the funds are coming from and whether or not cryptocurrencies assist their actions. Given the essential nature of nationwide safety, this concern has sparked concern amongst policymakers from each side of the aisle.
He mentioned, “However on the identical time I imply the SBF trial occurring proper now has largely sort of gone again to the sidelines. Right here by way of rigidity, each time there’s a main disaster, particularly of nationwide safety or particularly involving an ally, every thing else occurring, goes to the aspect.”
Elizabeth Warren’s current feedback linking cryptocurrency to the state of affairs within the Center East have been additionally mentioned. Whereas Warren has been essential of the crypto trade, the Blockchain Affiliation has invited her to fulfill with innovators, nationwide safety specialists, and constituents at their upcoming coverage summit in November.
The SEC’s denial of the Grayscale Bitcoin Spot ETF and Larry Fink’s feedback on cryptocurrency and Bitcoin ETFs have been famous. These developments have impacted policymaking, with Congress exerting political stress on the SEC to approve cryptocurrency-related monetary merchandise.
