The need for new laws governing crypto is gaining support, amid confusion and uncertainty.
With Republican-led proposals on one side and President Joe Biden’s working group and executive orders on the other, the importance of clear US crypto regulation is clearly being felt on both sides of the US political scene, albeit from different perspectives.
Gabriella Kusz, chief executive of the US-based Global Digital Asset and Cryptocurrency Association, sees a higher impetus among Democratic politicians “to support the industry from a perspective of offering greater financial inclusion, access to finance and opportunity for traditionally underbanked or unbanked populations.”
On the other hand, Kusz believes that Republican politicians have a “greater degree of alignment and understanding of the power of cryptocurrency to stimulate needed domestic industry innovation, job creation and economic growth.”