The major questions doctrine, a legal principle in U.S. administrative law, could potentially diminish the SEC’s authority in regulating the cryptocurrency industry. Kraken’s Chief Legal Officer, Marco Santori, believes this concept is relevant as lawmakers deliberate on cryptocurrency regulations and should be considered by the SEC and CFTC.
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US
A joint hearing on digital asset regulation between the House Financial Services Committee and Agriculture Committee revealed conflicts between lawmakers on handling cryptocurrencies. Witnesses advocated for legal amendments addressing blockchain technology, while some lawmakers deemed existing regulations sufficient. The stalemate complicates predicting major legislative changes or digital asset firms enjoying freedom from regulation.
US Lags Behind EU and UK in Crypto Regulation: Analyzing the Gap and Implications for Innovation
US House Representatives highlight regulatory gaps in the country’s crypto framework compared to advanced systems like the EU’s MiCA and UK’s digital asset regulation. Upcoming Congress hearings could shape the future of US digital asset regulation, fostering a clearer, comprehensive regulatory landscape.
Congressional Testimonies Clash: Balancing Crypto Regulation and Innovation
Top legal officers and a former regulator will testify in front of US congressional committees on cryptocurrency regulation, discussing improvements in regulatory interaction and proposing Congress directs the SEC to develop joint rules for crypto. The testimonies highlight differing opinions on finding a balance between proper oversight and fostering innovation in the constantly evolving digital asset market.