Bitcoin

According to some lobbyists, the tone of cryptocurrency regulation has changed in Washington DC

Speaking to Circle’s Jeremy Allaire on July 16, several key figures in the cryptocurrency and blockchain lobby in Washington, DC spoke about a significant increase in education and regulatory interest in the cryptocurrency space. .

Corona virus induces digitization

Perianne Boring, founder and president of the Digital Chamber of Commerce, noted this The pandemic had forced Congress to look for new technologies to make radical money.

“We have seen a big change in tone towards blockchain technology since the pandemic in Congress.”Boring said. “We saw almost 180 in this conversation. The pandemic has forced Congress to go digital. “

According to some lobbyists, the tone of cryptocurrency regulation has changed in Washington DC
According to some lobbyists, the tone of cryptocurrency regulation has changed in Washington DC

Blockchain Association executive director Kristin Smith also noted promising changes, particularly since Libra’s announcement last year triggered what Allaire called an “allergic reaction.” Smith said: “Policy makers now agree that upgrading our money is a good idea, and that’s progress.”

FS Vector’s John Collins talked about a change of heart about what cryptocurrencies meant over the years and found that the problems that were hypothetical six or seven years ago were brought to life. “This is an open program, you can build anything, but nobody spoke of Defi, nobody spoke of Cryptokitties,” said Collins.

What this means in the future

Smith, in particular, was not optimistic about the new legislation. “The congress came to a almost complete standstill because everything was chosen that was not directly related to the pandemic.” said. However, he referred to the new incumbent currency converter Brian Brooks and his recent initiatives as an example of how progress continues.

According to Boring, there is much more room for education. “There’s a massive technology gap and an even bigger gap when it comes to digital assets and blockchain technology.”

Indeed, when Smith spoke about the need to make cryptocurrencies something that ordinary people use more often, Boring advocated extending this to lawmakers. “Everyone remembers when they got their first bitcoin,” he said, “so let’s do it for Congress.”

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