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Michelle is the CEO of the Digital Asset Market Association, which works with financial companies and regulatory experts to develop a code of conduct for the digital asset market.
“2021 is the year of Washington’s awakening to the digital asset industry. This year began with the hasty FinCEN “no-custodial wallet”. The proposal, the industry can express its concerns and delays. At the same time, Senator Cynthia Lummis, who supports digital assets Joined the Senate.
As the Biden administration accelerates the development of digital assets, it seems that the whole of Washington is studying the industry in some form or form. Then there is the Infrastructure Act, which contains a hasty clause that defines brokers for tax reporting purposes. This flawed language has inspired proponents of digital assets from all walks of life in the United States and made it clear that policy makers and regulators need to proceed with caution and regard innovation as a key pillar of their decision-making.
At the beginning of December last year, the cryptocurrency CEO held a hearing before the House of Representatives Financial Services Committee, and the results of the year were very positive. Legislators are surprisingly enthusiastic about all participants and are genuinely interested in the innovative benefits that can be exploited in Web 3.0. The hearing will go a long way towards legalizing DC’s encryption, similar to the way bank CEOs show up before Congress every year.
Looking forward to 2022, legislators are beginning to realize the long-term benefits that this industry can provide to the United States. Coupled with the Biden administration for a year, it now provides a real window for bipartisan cooperation to promote industry development, and provide market integrity and consumers. Protection is provided with guardrails. I hope to see the development of a responsible public policy framework, this industry can flourish, and the United States can also benefit from it. “
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