Crypto Firms Could Cause Regulatory Chaos with Future Legislation
CryptoNewsTerminal Staff10 Jun, 2024
Crypto Firms Could Cause Regulatory Chaos with Future Legislation
TD Cowen recently reported that, "While the crypto sector has made some progress in terms of securing regulatory clarity, future Congressional interest in the sector could lead to companies prioritizing legislation in their own interests and creating chaos for the industry," according to The Block. "A similar dynamic played out in the early days of marijuana legalization. Companies jockeying to influence stablecoin legislation could end up watering down the bill by seeking to eliminate stablecoins altogether or prevent certain players from benefiting too much, the report said, adding that the infighting could lead to Congress deciding that the industry isn't ready for a bill.
