ALL NEWS

Time is not on our side "in order to ensure clarity in the regulation of cryptocurrencies, says the US legislator ##" "We must act, choose the regulator and give the market the certainty and the fencing that it deserves," said the representative of representatives of Josh Gotheimer. ## #"We must act, choose the regulator and give the market the certainty and the fencing that it deserves," said the representative of the House of Representatives Josh Gotheimer.

Cryptocurrencies, Law, Congress, United States, Regulation

The representative of New Jersey Josh Gotheimer said that US lawmakers should adopt a law explaining the role of regulators in relation to cryptocurrencies, otherwise the companies risk bringing their business abroad. After a round table held on September 27 with the chairman of the commercial commissaries commodity futures Rostin Behnam and many industry leaders, Gotheimer said that some of the cryptocurrency bills proposed by members of the House of Representatives and Senate of the United States are “construction blocks” aimed at achieving clarity in regulation . Although Gotheimer stated that he "positively" refers to the law on the protection of consumers of digital goods, he suggested that this bill aimed at granting CFTC large powers regarding the cryptocurrency explosion is not the only possible legislative way. "I am very open to any solution if it provides some normative certainty that we need in order for us to stop losing business, startups and entrepreneurs who are interested in establishing a flag here and growing here," Gotheimer said. "Whether it is the bill to Steibenou or other bills - Lammis and others, [and the bill], on which they work in the Committee on Financial Services of the House of Representatives - this is less important than providing a clear leadership and protective railing." He added: "Time is not on our side. We must act, choose the regulator and give the market confidence and protective mechanisms that it deserves [...] the risk of nothing, in my opinion, is a great risk." Representative Josh Gotheimer and CFTC chairman Rostin Bekhn in the Ramapo College in New Jersey on September 27. Source: Facebook. Gotheimer, a member of the Committee on Financial Services of the House of Representatives, in February submitted the law on innovation and protecting stable coins - a bill aimed at ensuring that the Federal Corporation of the US Deposit Insurance supported stable coins by analogy with fiat deposits. Nevertheless, the question of whether cryptocurrencies and stablecoins fall mainly for the regulation of CFTC or commissions on securities and exchanges remains open to many legislators. Similar: representatives of the industry offer improvements in the Babenou-Buzeman bill on the regulation of cryptocurrencies Chairman of the Agricultural Committee Senate Debbie Stubenou and a member of the Committee John Buzman submitted a law on the protection of digital consumers in August. In June, senators Cynthia Lammis and Kirste Gillblade supported the law on responsible financial innovations, a bill, which includes clarifying the role of CFTC and SEC in relation to cryptocurrencies, as well as "regulation of steablecoins, banking, taxation of digital assets and interagency coordination." Many lawmakers and representatives of the crypto industry also criticized the SEC for applying the “regulation” approach to cryptocurrencies. “I think that there may be great harmony between all these regulatory organs,” said Gottheimer. "It is obvious that we have work in the Congress to provide some of these instructions and directions."

9/27/2022