There is growing bipartisan support in Washington for increasing federal oversight of crypto markets, but lawmakers and experts remain divided on how best to regulate the energy-intensive sector.
House lawmakers have for years been introducing bipartisan bills to clarify rules for cryptocurrencies, nonfungible tokens and other blockchain-based assets. That’s because the digital assets don’t easily fit into existing regulatory structures that govern securities, commodities and other financial products.
Earlier this month, Sens. Kirsten Gillibrand (D-N.Y.) and Cynthia Lummis (R-Wyo.) joined the legislative debate with their “Responsible Financial Innovation Act.” The bill, S. 4356, would define cryptocurrencies as a commodity and require yearly reports from the Federal Energy Regulatory Commission on crypto’s energy consumption.
Yet that legislation is unlikely to settle the matter, policymakers suggested yesterday.
“I would like Congress to act to close the regulatory gap and give...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...