As proponents flock to Washington to convince lawmakers of the benefits of cryptocurrencies, some technologists — including at Harvard — have taken sharp aim in the opposite direction.
Headed by industry heavyweights including Coinbase, Blockchain Association, and Ripple Labs, crypto lobbying efforts have more than quadrupled from $2.2 million in 2018 to $9 million in 2021, according to a report conducted by the consumer advocacy organization Public Citizen. In the wake of the lobbying spike, tech experts are sounding the alarm on what they call the industry’s deep-seated problems.
On June 1, 26 technologists penned a letter to lawmakers urging them to create more robust regulations for a crypto industry that, referencing its lack of structured regulation, many critics have termed the “Wild West.”
“We urge you to resist pressure from digital asset industry financiers, lobbyists, and boosters to create a regulatory safe haven for these risky, flawed, and unproven digital financial...
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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...