The US House of Representative is preparing for what is the Republican brand “Crypto Week,” an legal pushing It has been scheduled from the next Monday to Friday that the future regulation of digital assets in the country may be able to reshape the future.
The episode of this week of Byte-sized Insight explores the political stakes of these bills, industry lobbying efforts and whether the support of the bipartisan is sufficient to push the law throughout the end line.
Legislators are expected to debate and potentially vote Three high profile bills: The Clarity Act, which will determine the administration of regulation of crypto markets; The Genius Act, which creates a plot for stablecoins and has already -Clear The Senate; and the Anti-CBDC Surveillance State Act, which will prohibit the creation of a US Central Bank digital currency.
Clarity for crypto
Mason Lynaugh, community director at Stand With Crypto, a nonprofit advocacy organization supported by Coinbase, emphasized that the crypto industry sees this moment as urgent and potential decisions.
“We see some incompatible momentum, incompatible attention and focus and support of the Bipartisan for Crypto as a subject.”
“But the hurry is very real … While we have a momentum, we need to make sure we finish this mission,” Lynaugh said.
A few days before Congress assembled, stand with crypto and more than 65 other companies and advocacy groups submitted a letter Encouraging home lawmakers to support the law of hygiene. Lynaugh acknowledged the rising political temperature around the crypto.
Related: Ripple CEO, ex-US regulators to meet market structure at Senate hearing
He added that the Clarity Act holds long questions about the jurisdiction of consumer regulation and protection. “This bill covers all questions about what the SEC does? What does the CFTC do? What does the token launching look like? What is decentralization?” he said.
Crypto and politics
“It’s really sad that people have tried to politicize the crypto,” he said. “When you cut the noise and you look at the numbers … it’s a wide topic of bipartisan.”
The efforts of mobilizing indigenous groups have raised in recent months. “We have more than 50 million Americans owned by crypto,” said Lynaugh, pointing to 2.2 million standing with crypto advocates and over 70,000 emails sent to US senators earlier in recent votes.
With the Clarity Act and other bills facing a narrow pre-cepeced window, the coming week may be the clearest shot in the crypto industry in shaping US law.
However, the stakes remain high. Lynaugh warned lawmakers:
“If you don’t pass it … All the questions we have for years are not answered.”
Listen to the entire stage of the byte-sized perspective for complete interview with cointelegraph podcasts Page, Apple podcast o Spotify. And don’t forget to check the entire cointelegraph lineup of other shows!
Magazine: US risks are ‘front run’ in Bitcoin Reserve by other countries – Samson Mow
