Center for American Progress

Congress may be getting it wrong: Crypto should be regulated just like other financial assets
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Congress may be getting it wrong: Crypto should be regulated just like other financial assets

Todd Phillips and Alex Thornton question Congress' current approach to crypto regulation and urge a new path forward.

Cryptocurrency has gone from niche interest to Super Bowl ad, and Congress is now looking at ways to appropriately regulate these new assets.

Congressional committees have held hearings to understand stablecoins, the environmental impacts of crypto mining, and the role of government in policing markets. Several lawmakers have introduced legislation to bring crypto assets into the regulatory fold, with sponsors arguing that their bills offer “responsible federal oversight of trading platforms and critical consumer protections.”

The above excerpt was originally published in MarketWatch. Click here to view the full article.

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Authors

Todd Phillips

Director, Financial Regulation and Corporate Governance

Alexandra Thornton

Senior Director, Tax Policy

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