The post Lawmakers Push for Clear Crypto Regulations in ‘Crypto for Harris’ Campaign appeared on BitcoinEthereumNews.com.

The recent Crypto for Harris town hall marked an important discussion on the regulation and future of cryptocurrency in the United States. Legislators expressed their support for establishing clear crypto regulations, inspired by the recent strides made in AI regulation. “We cannot afford to sit on the sidelines,” Senate Majority Leader Chuck Schumer emphasized, highlighting the urgency of comprehensive crypto legislation. Crypto regulation takes center stage at the Crypto for Harris town hall, with lawmakers urging prompt and clear legislation to keep the US competitive in the global crypto market. Senate Majority Leader Emphasizes the Need for Immediate Crypto Regulation The Crypto for Harris town hall featured impassioned discussions from lawmakers on the necessity of clear and immediate crypto regulations. Senate Majority Leader Chuck Schumer was particularly vocal, insisting that the US can no longer afford to delay. “If we get nothing done, extremists win,” he warned, stressing the risk of other countries with lax regulations undercutting US leadership in the sector. Schumer also pointed out that adopting a balanced and well-rounded regulation framework is essential to foster innovation while ensuring security and legal clarity. Florida Congressman Advocates for Comprehensive Reform Joining the conversation, Florida Congressman Darren Soto urged Vice President Kamala Harris to take decisive actions. Top on his list was the repeal and reevaluation of the SAB 121 accounting regulations, which had been impediments to crypto innovation. Furthermore, Soto called for the passage of the FIT21 crypto bill, aiming at providing a clear legislative framework to guide the crypto industry. He stressed that recognizing the benefits of crypto, particularly in remittances, could dramatically bolster the US financial stance. The Biden Administration’s Stance and Harris’s Position Discussions at the meeting also delved into the Biden administration’s perceived hostility towards crypto over the past four years. Many industry players feel…

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Filed under: News - @ August 15, 2024 7:13 am