The pressure arm of Coinbase, along with a group of encryption companies, urged legislators in the House of Representatives to pass a major bill when they meet next week that would put how the encryption industry is regulated.
in letter It was sent on Monday, stood with Crypto and 65 of the coding and companies defense groups.
“We know that there were efforts to politicize encryption legislation, but with greatly reshaping the global economy, the American risks are behind the knees unless we adopt crystallization policies that adopt Blockchain technology completely.”
The clarity law determines the roles of the Justice Contracts Trading Committee, the Securities and Exchange Committee in the encryption police. Most of the judicial jurisdiction is given to CFTC, however SEC will organize Products such as securities related to encryption.
American groups say the “sliding” encryption leadership
The group’s speech, signed by the unique, unprecedented symbol, claimed that there are already “signs of US encryption leadership.”
The groups said that “the lack of unified rules impedes the adoption and institutional innovation, and pushes talents and companies to more states that are friendly to encryption abroad,” the groups said.
He added: “We cannot let down and uncertainty expose our ability to secure the future of America’s economic future.” “Above all, the American encryption industry needs the market structure – ensuring clear rules of the road and providing the organizational clarity that developers, users and preachers need to continue innovation.”
A house to consider the law of clarity during the “encryption week”
Republican Parliament leaders said on Thursday that they will consider the law of clarity And other encryption bills In the week that starts on July 14, in what they called “Cryotation Week”.
Parliament Speaker Mike Johnson said the Chamber will also review the law of monitoring the digital currency of CBDC Central Bank and the regulatory genius law in Stablecoin.
The law of genius is likely to be at the forefront of the agenda, as it was already passed in the Senate, and US President Donald Trump said last month that he wanted the bill. It passed as soon as possibleBefore Congress went at a month for a month in August.
The clarity law can be the next Trump office, as is now before the full parliament after the Financial Services Committee in the House of Representatives and the Agriculture Committee Filled on June 10.
The Senate should still pass, and Tim Scott, head of the Senate Banking Committee last month that he said it He wants to pass The body of the encryption market “before the end of September”.
Democrats can disrupt the clarity law
Democrats were in the Senate The efforts of frustrated Republicans To quickly pass the genius law to the House of Representatives, noting fears of Trump’s increasing relations, and Democrats in the House of Representatives have already indicated similar concerns with the Clarity Law.
Maxinewater, a great democracy in the Financial Services Committee in the House of Representatives, He said in a hearing In early June, the law of clarity was a “hasty and complex bill” that would exempt “some of the most dangerous activities” in encryption.
She added: “Legitimacy to Trump’s encryption is far from the only terrible thing in this profitable and reckless legislation,” noting the pure value of the Trump family from their encrypted projects.
Trump has Add At least 620 million dollars on his net wealth due to his encryption projects and family, which now include the encryption trading platform, stablecoin, the encryption mining company, NFTS, and multiple symbols.
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