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The passage of the FIT21 bill has sparked a debate within the Democratic party regarding crypto regulation. While some Democrats support more regulation, others express concerns about the industry's influence in Congress. Various Senators, including Brian Armstrong, are working on creating clear rules for the crypto industry, emphasizing bipartisan momentum. However, SEC Chair Gensler's stance against crypto regulation is criticized, with concerns raised about the CFTC's ability to regulate crypto post-FIT21.
While some Dems are softening on crypto, important to highlight there’s still plenty who are not — and Gary Gensler still leads the SEC. Watch this exchange, where Sen. Dick Durbin (D-IL), together with Gensler, collectively dunk on the CFTC + crypto. https://t.co/5ZAS4oCfNI
While some Dems are softening on crypto, important to highlight there’s still plenty who are not — and Gary Gensler still leads the SEC. Watch this exchange, where Sen. Dick Durbin (retiring at end of this year), together with Gensler, collectively dunk on the CFTC + crypto. https://t.co/eMorslnvLx
.@GaryGensler’s failure to provide clear rules of the road for crypto is pushing the industry overseas. Crypto innovation creates jobs, drives technological progress, and spurs economic growth—it should be happening here in America. https://t.co/Kq9IspnKiJ