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US House Democrats Exclude Cryptocurrency – In a report from Fox Business journalist Eleanor Terrett, it was revealed that Senate Minority Leader Chuck Schumer (D-NY) has excluded cryptocurrency from his list of legislative priorities for upcoming bipartisan bills. Terrett, via X (formerly Twitter), reported that Schumer outlined his legislative priorities in a letter to his colleagues, where artificial intelligence (AI) was highlighted as a key area for bipartisan efforts, while cryptocurrency was notably absent. This omission has raised concerns among crypto advocates, as it signals a potential shift in focus away from crypto regulation, which had previously been a topic of significant debate within Congress. Schumer’s letter marks a departure from previous discussions, where cryptocurrency regulation was seen as an important issue in need of bipartisan consensus. The exclusion of crypto from the current priority list could indicate that Democratic lawmakers are delaying or deprioritizing the matter, despite ongoing calls for regulatory clarity within the industry. Schumer’s decision to focus on AI reflects growing concerns about the rapid development of artificial intelligence and its societal impacts, while cryptocurrency appears to have taken a backseat in legislative discussions. Schumer’s Stance on Crypto and Town Hall Plans Although cryptocurrency legislation did not make it to the priority list in Schumer’s letter, he reportedly expressed his intention to push for crypto-related regulation during a town hall speech hosted by Crypto4Harris, a nonprofit organization aimed at improving relations between the Democratic Party and the cryptocurrency community. Schumer’s commitment to address crypto in this forum suggests that while it may not be a priority for immediate bipartisan legislation, it remains on the radar for future discussions. The decision to bring up cryptocurrency legislation in a town hall setting could be an attempt to engage more directly with the public and address concerns from the growing…

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Filed under: News - @ September 9, 2024 1:23 am