Crypto Execs Advise Congress On Industry Regulations

Share post:

Executives at some of America’s largest cryptocurrency exchanges have advised the U.S. government to be cautious about the kind of regulations it plans to introduce for digital assets.

They said that while they were open to drawing up clear rules, strict rules would either send crypto activity underground or even take it away from the United States.

This comes ahead of a scheduled meeting between the executives of America’s largest cryptocurrency exchanges and a panel appointed by Congress.

Alesia Haas, chief executive of Coinbase, said, “Without tailored legislative solutions that are openly debated with public participation, the United States risks unnecessarily onerous and chilling laws and regulations. This could effectively push crypto activity underground or to offshore exchanges that have little or no compliance programs.”

The need to protect the crypto market from exploitation by cybercriminals, among other things, was a top priority for the U.S. government.

For more information, read the original story in Reuters.


Related articles

Business optimism in Canada dips amid perceived economic pressures: Zoho Survey

Despite ongoing economic challenges, over 60% of Canadian businesses remain hopeful for the rest of 2024, according to...

Google’s search secrets are accidentally leaked

Documents that describe Google's search ranking processes were accidentally published online, sparking a frenzy among search engine optimization...

OpenAI head of AI safety defects to rival Anthropic

Jan Leike, formerly the superalignment leader at OpenAI, has joined rival AI company Anthropic. This move comes after...

Canadian schools sue social media giants over alleged harm to children

Five Ontario school boards along with two private schools have joined lawsuits that claim that social media platforms...

Become a member

New, Relevant Tech Stories. Our article selection is done by industry professionals. Our writers summarize them to give you the key takeaways