Explore the policy fallout from the 2022 market crash, the advance of CBDCs and more.The U.S. Congress is in the very early stages of making legislative progress for crypto oversight, with different ideas being reviewed for how much bipartisan support they can get, said Sen. Thom Tillis .
“We’re going through that mechanical process right now,” Tillis said Wednesday at a Bipartisan Policy Center event in Washington. He said “all the ideas coming from various offices” are under that review, with an aim toward finding components that could clear a Congress split between the parties. Tillis sits on the Senate Banking Committee, which will have a key role in advancing any sort of crypto legislation.
A two-party approach “is the only way you’re going to get something done in this Congress,” Tillis said, and the outcome isn’t likely to make either side especially happy. “This is not going to be a crowd pleaser or an applause line.” Also at the event, Sen. John Hickenlooper agreed that digital assets oversight is going to have to come from bipartisan common ground. And any outcome will be colored by what the lawmakers have seen from the industry in the past several months, especially the implosion of FTX.
I'm sure the crypto sector can hardly contain its excitement.
jesseahamilton Because one company was run by a crook, an entire industry/technology has to pay? Maybe if they hadn’t dragged their feet, FTX wouldn’t have happened?