Of all the cryptocurrency bills studied in the United States Congress, that of the Republicans, the Digital Asset Market Structure (DAMS)East ten times better. This is the opinion of Ryan Selksi, CEO of Messari.
Republicans more open to cryptocurrencies
Republican elected officials have never shared the Democrats’ opinion on cryptocurrencies. The latter, for example, would be for them accomplices of Sam Bankman-Fried in the fall of FTX last November.
Thus, it is not uncommon to find crypto industry players praising Republicans’ efforts to cryptocurrency regulation. In a recent article, Cointelegraph quoted Ryan Selkis, who was full of praise for the new Republican crypto bill. Some of his comments were taken from his post on an event hosted by Coinbase on Twitter Space yesterday.
” How could tokens, in their early stage, temporarily comply with securities laws until they are sufficiently decentralized? he asked on occasion.
During this exchange, the CEO of Messari also cited the efforts of representatives Patrick McHenry and Glenn Thompson. They would be the author ofa solution for tokens to achieve a level of compliance through decentralization. At this point, there is no need to resort to securities laws.
This reminds us of the solution proposed by Marc Cuban to avoid any attack from the SEC.
Regarding the “Digital Asset Market Structure” (DAMS) bill, he specified “ that this is probably a 10x improvement over anything we’ve seen so far “.
As a reminder, the Digital Commodities Consumer Protection Act is among the other crypto bills introduced in Congress. This is supposed to strengthen the regulation of these assets following the collapse of FTX.
Other personalities seduced by the same approach
TuongVy Le, head of regulation and policy at Bain Capital Crypto, believes there is no shortage of strength in DAMS. For her, this bill allows token issuers to go down the path of compliance.
” The problem that many cryptocurrency issuers or token projects face is that when you launch a token, you don’t become decentralized right away, do you? ? »
In other words, the SEC must give more time to those companies that want to succeed in establishing decentralization. Rather than choose the path of violenceas it currently does with Binance and Coinbase,
Receive a digest of news in the world of cryptocurrencies by subscribing to our new service of daily and weekly so you don’t miss any of the essential Tremplin.io!
