The United States is on the verge of taking an important step in implementing comprehensive regulation of the cryptocurrency market.
David Sacks, dubbed the White House’s “chief crypto officer,” said the country is “closer than ever” to passing legislation to regulate Bitcoin and the cryptocurrency market.
Following a meeting with Senate Banking Committee Chairman Senator Tim Scott and Agriculture Committee Chairman John Boozman, David Sacks announced that a formal committee review of the bill known as “Clarity” was planned for January. Sacks highlighted the support of Senate leaders, as well as House Representatives French Hill and Glenn Thompson, saying the passage of this “historic” cryptocurrency market structure legislation, called for by President Donald Trump, is closer than ever. He said the goal is to complete the process in January.
These statements follow a meeting on Wednesday in which crypto industry figures met with key members of Congress. As the US Senate prepares to take a short break from deliberations on the bill, industry representatives view this regulation as one of the crypto industry’s main policy goals.
Coinbase Vice President of US Public Policy Kara Calvert, who attended the meeting, said after the discussions: “There was a picture of bipartisan interest and momentum moving forward. Calvert summed up the general mood in the room by saying: “We are going to move to an evaluation phase and for that we need to find areas of compromise.” »
*This does not constitute investment advice.