Amid the ongoing campaigns for the 2024 elections in the United States, lawmakers are still working on legislation to establish regulatory clarity for the digital asset space, particularly stablecoins. At the North American Blockchain Summit, Consensys senior counsel Bill Hughes expressed his excitement about the policy discussions surrounding cryptocurrencies. He emphasized the importance of resolving issues related to state-level regulators before legislating on stablecoins. Hughes also discussed two crypto bills: Senator Elizabeth Warren’s bill, which aims to crack down on illicit use of digital assets but has some problems with addressing Anti-Money Laundering, and the Clarity for Payment Stablecoins Act introduced by House Financial Services Committee chair Patrick McHenry, which is considered sensible. Hughes noted that crypto has become a political topic in Washington, with some lawmakers being hostile towards it while others see it as an exciting space that needs room to grow while managing risks through federal policy. Hughes also mentioned the possibility of the U.S. Securities and Exchange Commission approving a Bitcoin exchange-traded fund (ETF) due to high demand, but he acknowledged that the regulator may continue to delay a decision. The 2024 presidential candidates, including Republican Vivek Ramaswamy and Independent Robert F. Kennedy, Jr., expressed their support for crypto-related policies at the summit, highlighting that the topic has not been a central focus in Republican Party debates. According to Hughes, crypto is considered an offbeat political issue, more likely to be discussed in relation to broader topics such as financial freedom and the size of government.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | Robert F. Kennedy Jr., Bill Hughes, Patrick McHenry, Elizabeth Warren, Vivek Ramaswamy |
| Companies | Consensys, North American Blockchain Summit, U.S. Securities and Exchange Commission, House Financial Services Committee, Cointelegraph |
| Currencies | Bitcoin |
| Securities | None |
