Bipartisan Senators Propose Regulatory Overhaul of Crypto Markets
On June 7, 2022, Senators Kirsten Gillibrand (D-NY) and Cynthia Lummis (R-WY) unveiled their long-awaited bipartisan framework to overhaul the regulation of cryptocurrencies and digital assets. The “Responsible Financial Innovation Act,” seeks to provide certainty and clarity to the digital asset and blockchain industries, along with the agencies governing these industries. The proposed legislation, which has been in development since March 2022, would define most digital assets, including bitcoin and ether, as commodities, enact rules governing stablecoins, and provide the CFTC with exclusive jurisdiction over digital asset spot markets. Authored by Gaurav K. Talwar, Attorney at Law, McGonigle - Originally published in blockchainlawcenter.com Read Full Article Here
Who’s Who In Crypto: Gabriella Kusz, Chief Executive Officer at Global Digital Asset and Cryptocurrency Association
What does crypto mean to you and what drew you to it? Crypto means transformation and evolution of the financial sector. As a professional who has spent a significant portion of her career ushering in financial sector transformation my ah-ha moment happened when I began to see the broader impacts of the industry as a first wave of the Fourth Industrial Revolution. In my previous roles, I have supported countries in transitioning towards free-market economies or in diversifying their economies away from petrochemical industry reliance or in advancing transparency and accountability post-Arab Spring. Crypto is the tip of the iceberg and ensuring inclusive, participatory and representative engagement in our global financial future will require supporting broad financial sector transformation. What drew me to crypto was the opportunity to lend my global lessons learned, experience in capacity building and enhancing shared prosperity in an emerging and more impactful way. Read Full Article Here
Global Digital Asset and Cryptocurrency Association Appoints Gabriella Kusz to CEO Position – MarketWatch
The Global Digital Asset and Cryptocurrency Association, a self-regulatory association for the digital asset & cryptocurrency industry, is pleased to announce that Co-founder and Board Member, Gabriella Kusz has unanimously been appointed to the CEO position. With nearly 20 years of financial services public policy experience and sustainable programming innovation successfully put into effect at government agencies and SROs globally, Gabriella will lead the association’s strategic plan to develop industry standards and best practices, implement education and certification programs to build human capacity, and advocate for a public policy and regulatory environment that facilitates innovation and protects consumers, stakeholders, and the broader public interest worldwide. Read Full Article Here
Self-regulatory organizations growing alongside new US crypto regulation – COINTELEGRAPH
SROs can eventually provide the “connective tissue” between the crypto industry and U.S. government as regulatory infrastructure forms. Federal regulation is necessary but not sufficient, Kusz said. Rather, a holistic approach to a regulatory framework is needed. “Regulatory bodies need to move away from an adversarial role toward community management to help shape an ecosystem that works,” she said. “I am not fearful” about regulation, she continued, “but optimistic. […] It will take multiple organizations to steward the industry and bring forward innovation. It’s not competitive.” Read Full Article Here
Balancing act: A report into the future of US crypto regulation – Currency.com
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.” Read Full Article Here
