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Crypto Industry Needs ‘Light’ Regulatory Framework to Combat Risks: US Sen. Thom Tillis

🇺🇸 The US Republican Senator Thom Tillis has called for a new regulatory framework for the crypto industry, which would “create the most hospitable environment for digital assets to thrive.”

🟢 During the Senate Banking Committee meeting on Tuesday, Tillis stressed “light” regulation to help curb illicit crypto financing. His remarks came after Deputy Treasury Secretary Adewale Adeyemo addressed the urgency of regulating cryptos due to national security risks.

🟢 “One thing I’d tell people in the crypto or digital assets space that say ‘Nothing to see here, everything is fine’ – they’re wrong,” Sen. Tillis noted. Senator Tillis added that the crypto regulation would “vastly” differ if there is a change of administration after November elections.

💲 Banking Committee chair Sherrod Brown released a document supporting the Treasury’s enforcement goals before Adeyemo’s testimony. According to Brown’s statement, he called for the right “tools” to crack down on illicit finance with digital assets.

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Create: 2024-04-10
Last Update: 2024-05-30 20:17:48

Crypto Industry Needs ‘Light’ Regulatory Framework to Combat Risks: US Sen. Thom Tillis

🇺🇸 The US Republican Senator Thom Tillis has called for a new regulatory framework for the crypto industry, which would “create the most hospitable environment for digital assets to thrive.”

🟢 During the Senate Banking Committee meeting on Tuesday, Tillis stressed “light” regulation to help curb illicit crypto financing. His remarks came after Deputy Treasury Secretary Adewale Adeyemo addressed the urgency of regulating cryptos due to national security risks.

🟢 “One thing I’d tell people in the crypto or digital assets space that say ‘Nothing to see here, everything is fine’ – they’re wrong,” Sen. Tillis noted. Senator Tillis added that the crypto regulation would “vastly” differ if there is a change of administration after November elections.

💲 Banking Committee chair Sherrod Brown released a document supporting the Treasury’s enforcement goals before Adeyemo’s testimony. According to Brown’s statement, he called for the right “tools” to crack down on illicit finance with digital assets.

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Date: 2024-05-30| GimmeTheCoin

The lead from Wall Street offers little clarity as the major averages opened lower on Friday and then bounced back and forth across the unchanged line, finally finishing mixed and little changed.The Dow added 33.18 points or 0.10 percent to finish at 34,798.00, while the NASDAQ eased 4.54 points or 0.03 percent to close at 15,047.70 and the S&P 500 rose 6.50 points or 0.15 percent to end at 4,455.48. For the week, the Dow rose 0.6 percent, the NASDAQ added 0.1 percent and the S&P gained 0.5 percent.The lackluster performance on Wall Street came on uncertainty about the outlook for the markets following recent volatility.

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