In Congress who has not been set to return from retreat for a few weeks, some US lawmakers have signed how they plan to meet the crypto-related law passed by the House of Representative in July.
In a MSNBC Sunday interview, Massachusetts Senator Elizabeth Warren, one of the heavier voices that relates to digital assets with illicit activities, Says He supported the regulation of the crypto industry. However, he suggested opposition to the crypto market structure through the Digital Asset Market Structure Clarity (CLARITY) Act, introduced by Republicans and passed with Bipartisan support at home.
“We need crypto regulation,” Warren said. “But we do not need regulation written by the crypto industry that provides this kind of corruption. We need regulation that limits corruption and the ability of elected officials to trade it, which also limits the ability to explode the crypto economy.”
https://www.youtube.com/watch?v=Gu3jr-dtke
Warren’s statement signified that he had planned to double down his efforts to rally at the democratic opposition to The Clarity Act, which is expected to be considered in the Senate beginning in September.
Republican leaders told the Senate Banking Committee in June that they were Plans to pass the bill By September 30th.
Related: White House Crypto Rules bring about SEC-CFTC clarity for us Crypto companies: attorney
First stablecoins, then crypto market structure, then CBDCs?
In July, many House Democrats cooperated with the Republicans to pass the Clarity Act, a bill that restricts a digital currency by the US Central Bank, and law to repair payment stablecoins, the Genius Act.
The Genius Act, which has been passed by the Senate, is signed by President Donald Trump’s law on the same week, while the other two bills are expected to be discussed after the recurrence of Congress in August.
The White House also weighs with recommendations for the crypto market structure. On July 30, a Digital Asset Task Force established under Trump Offered recommendations for regulation clarity Through a breakdown of the duties of the U.S. financial regulators, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), will have several tokens.
“(W) This is a clear and comprehensive classification system, market participants need to navigate a patchwork of interpretations and guidelines -a saying mine for a honest actor who tries to lead the industry,” the report said. “A clearer, agreed taxonomy is important to ensure both healthy development of the digital asset ecosystem and consumer protection and investors.”
Senate lawmakers are expected to return to work the day after Labor Day, on September 2.
Magazine: The Genius Act reopened the door for a meta stablecoin, but would it work?
