American Congress marks data to decide the future of cryptocurrencies; More turbulence on the front?

em uma short note Published at this terça-feira (6), the president of the Comitê de Serviços Financialiros dos USA held a meeting to discuss the future of cryptocurrencies.

untitled “The future of two digital assets: providing clarity for the digital asset ecosystem”the audience is scheduled for the afternoon of the next terça-feira (13).

“President Patrick McHenry announces a hearing on the future of the digital asset ecosystem and the efforts of Congress to provide clear rules.”

American Congress is attempting to modernize its laws

A week is being turbulent in the cryptocurrency market. In the end, the American CVM processed the two largest brokerages in the sector, Binance and Coinbase, causing stress on our prices.

No entanto, it is worth noting that the SEC deals only with securities. Ou seja, just some cryptocurrencies were mentioned in the processes.

Já o Comitê de Serviços Financeiros possesses more powers and, therefore, can detect regulatory gaps that agencies such as SEC and CFTC do not have control over.

“This discussion outline is the first step toward fulfilling the commitment of two Republicans to developing clear rules for the digital asset ecosystem.”

“Our goal is to find the right balance between consumer protection and incentive to responsible innovation”continued Patrick McHenry. “This is the product of a joint effort without precedents […] or that gives us a better chance of reaching that balance.”

No 162 page documentwhich will be used as a basis for the discussion, will address points such as the role of the modernization of regulatory agencies, as well as the correct categorization of each cryptocurrency.

Also disso, the text also addresses brokers and custodians, as it aims to understand the new aspects of the crypto sector, such as NFTs and DeFi (decentralized finance).

More regulations on the front?

As everything indicates, the text seeks to offer greater regulatory clarity on US cryptocurrencies, something required by its own industry that now lives without direct answers.

On the other hand, we can also expect greater representation on certain cryptocurrencies. Taking the SEC processes as an example, it is possible that more projects are framed as securities. Therefore, you may lose market.

In the last analysis, it should benefit truly decentralized cryptocurrencies, such as Bitcoin, which could result in the approval of a long-awaited ETF in view of BTC.

No entanto, others allege that either Bitcoin is barely or close to two regulators. One of the best examples is the founder of Cardano, a cryptocurrency cited by the SEC as a security this week.

“And they do not understand that they are close to you”commented Charles Hoskinson in this fourth fair (7), referring to the Bitcoin maximalists who are coming to pressure on Proof-of-Stake projects.


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