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
[THE BLOCK] Sen. Durbin questions CFTC's ability to regulate #crypto following FIT21 passage
Sen. Durbin questions CFTC's ability to regulate crypto following FIT21 passage https://t.co/FiYJiQam4F
Gensler repeated his - crypto is a bunch of Wild West lawbreakers - nonsense. Despite @SECGov court losses, bipartisan rebukes in Congress and the votes of 50M+ crypto holders at stake, Gensler remains committed to killing crypto in the U.S. https://t.co/J7Whl0cl6E
In conversation with @CathieDWood, @coinbase CEO @brian_armstrong says he met with 12 or 13 different Senators over the last few days and that #crypto is the number one bipartisan issue in Congress right now and crypto is finally getting organized politically. https://t.co/aJ0do18u3P
I met with more than a dozen Dem and GOP Senators in DC over the last 48 hrs to discuss creating clear rules for the crypto industry and consumer protection for crypto users. There’s strong bi-partisan momentum to get this done in the Senate now that FIT21 has passed in the… https://t.co/KWVylw1kDL
In the @thehill @DennisKelleher raises concerns about the #crypto industry's influence in Congress. With #FIT21 on the table, it's time for tough questions about its potential impact on investors, consumers, and financial stability. https://t.co/volTTxglTq
The Gensler/Warren approach of "don't legitimize crypto by regulating it" is losing support among Democrats. The FIT21 vote was a vote for *more* crypto regulation. https://t.co/HIQ5WiYGcO https://t.co/dtsUOF3YMT
Crypto cheered FIT21 — here’s why the industry is now ready to fight over details in the bill https://t.co/G3TW9xWaqg