Crypto Insider Reveals Defeat of Anti-Crypto Agenda in US
A former Chair of the Commodity Futures Trading Commission (CFTC) suggests that Senator Elizabeth Warren’s anti-crypto stance is losing ground.
Shifting Legislative Climate
- In a recent interview with Forbes, former CFTC Chairman Christopher Giancarlo expressed optimism about the future of digital assets.
- Giancarlo believes the anti-crypto faction is dwindling as the US Congress overturns SAB 121 guidelines.
Reversal of SEC Guidance
- SAB 121, a directive from the SEC regarding digital asset accounting and protection, faced repeal with a Senate vote of 60-38.
- Notably, the White House could veto this move, potentially with the backing of traditional banks.
Moving Towards FIT21
- Giancarlo views FIT21 positively, as it grants the CFTC authority over digital asset commodities.
- Noting the CFTC’s success in regulating non-wholesale markets, he sees potential in overseeing the retail crypto marketplace.
Hot Take: Rise of Digital Assets and Regulatory Shifts
Recent developments point towards a growing acceptance of digital assets and a shift in regulatory frameworks, reshaping the crypto landscape.
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