The CEO of Custodia Bank, an American financial institution that specializes in cryptocurrencies, says that taking crypto legislation in the US has been a fight between traditional banks and the digital assets industry.
This week, the House of Representatives adopted the Clarity Act, the Genius Act and the Anti-CBDC Surveillance State Act.
But only the brilliant law, which establishes the federal rules for Stablecoins, has so far cleared both rooms of the congress.
In an interview on CNBC, Caitlin Caitlin Long from CNBC says that getting the approved crypto accounts “an ugly sausage process” is that traditional financing against the digital assets industry clashes.
“You have a number of pretty powerful interests here. The banks are against the crypto industry, and so far the crypto industry has been won.”
Long says that she is optimistic that the crypto industry has the upper hand because of the financial challenges that the US is confronted with.
“What problem is the government trying to solve? The US have enormous tax deficits and must have the question of buyers of American treasury, and the cryptomarket would never have been given permission, [though] Some of us tried. People who went around the supervisors and created whole new markets of buyers for American treasury, that is what the congress and the Trump government try to make it possible. “
https://www.youtube.com/watch?v=oltbvpuvctu
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