Home GOP tries panel collaboration on crypto; Democrats leery

Her stance is in keeping with statements from Senate Banking Chairman Sherrod Brown, D-Ohio, however different Democrats are extra amenable to the necessity for extra complete laws. 

Senate Agriculture Chairwoman Debbie Stabenow, D-Mich., final 12 months launched with rating member John Boozman, R-Ark., a invoice that might grant the CFTC jurisdiction over bitcoin and ether spot markets and require exchanges to register with the company. The invoice, which was carefully related to Sam Bankman-Fried, the indicted former CEO of FTX, has not been reintroduced this Congress.  

Junior members on the Home Monetary Companies Committee are additionally extra open to congressional motion on cryptocurrencies than their leaders. Rep. Wiley Nickel, D-N.C., a freshman, stated he is nonetheless making an attempt to know the completely different views on the problem. 

“I believe there is a function for innovation. I hate to see expertise shifting offshore,” he stated in an interview. “The sincere reply is I am nonetheless making an attempt to determine what the most effective method is for my constituents. However as somebody who’s 47, I am loads youthful than most individuals in Congress and making an attempt to signify a youthful group of individuals within the nation who wish to have choices and be capable of do what they need with their cash.” 

Rep. Ritchie Torres, a New York Democrat on Monetary Companies, stated Democrats took the fallacious lesson from FTX. 

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