US Senators Blast Democrats for Crypto Stalling, Promise Change in Republican Senate

IconCryptoNewsTerminal Staff26 Jul, 2024

cryptonews.jpg

US Senators Blast Democrats for Crypto Stalling, Promise Change in Republican Senate

US Senators Cynthia Lummis and Tim Scott addressed the Bitcoin 2024 conference, criticizing Democrats for blocking progress on crypto legislation. "Democrats are preventing progress," Lummis stated. "They're intentionally trying to stop the US from leading in innovation, particularly on the Senate Banking Committee." Scott echoed Lummis' sentiments, emphasizing the need for a Republican-controlled Senate to facilitate change. "When we win in November, this will all change," Scott said. "Our goal is to protect consumers while fostering innovation." The senators expressed concern over SEC Chair Gary Gensler's "regulation by enforcement" approach, which they believe has stifled industry growth. They pledged to prioritize clear and sensible regulations that balance consumer protection with innovation.

Related News