The Stand with Crypto Alliance is America’s first independent advocacy group for the crypto community, Coinbase says. The organization’s primary mission is to mobilize support for legislation that would create a US regulatory framework for digital assets — something of a sore subject in the feud between crypto advocates and US regulators, who have fundamental disagreements about how the industry should operate.
Last month, a judge ruled that a token issued by Ripple Labs was “not necessarily a security on its face,” partially validated the crypto industry’s contention that digital assets should not be regulated as securities. In another victory for the industry, the House Financial Services Committee advanced a bipartisan bill that would clarify the SEC’s jurisdiction and give primary regulatory oversight of crypto to the Commodity Futures Trading Commission.
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