While the SEC is pursuing legal action against Binance and Coinbase, Congress is increasingly adopting a more pro-crypto stance.
Highlights
- Members of Congress are questioning SEC Chairman Gensler regarding the definition of an investment contract.
- The term “investment contract” has been interpreted too broadly by many crypto proponents.
- While the SEC is pursuing legal action against Binance and Coinbase, Congress is increasingly adopting a more pro-crypto stance.
- Members of the crypto community are increasingly engaging with Washington, D.C., sources say.
- The growing divide between the administration and Congress concerning crypto reflects the growing influence of House Democrats and Republicans in favor of the community of the cryptocurrency community.
- The Senate is less receptive, but there’s a positive trend in lobbying efforts, according to a source.
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13 Crypto Exchanges Hold Over 14% of Industry's Wealth; Binance Dominates with 42% Share of $151B in Reserves – Exchanges Bitcoin News