New Jersey Representative Josh Gottheimer said that United States lawmakers needed to pass legislation clarifying regulators’ role over crypto or risk companies taking their business abroad.
Following a roundtable discussion on Sept. 27 with Commodity Futures Trading Commission chair Rostin Behnam and many industry leaders, Gottheimer
Senate Agriculture Committee chair Debbie Stabenow and ranking member John Boozman introduced the Digital Commodities Consumer Protection Act in August. In June, Senators Cynthia Lummis and Kirsten Gillibrand backed the Responsible Financial Innovation Act, a bill which included clarification for the CFTC’s and SEC’s roles over crypto as well as “stablecoin regulation, banking, tax treatment of digital assets, and interagency coordination.” Many lawmakers and those in the crypto industry have also criticized the SEC for taking a ‘regulation by enforcement’ approach to crypto.
“I think there could be great harmony between all of these regulatory bodies,” said Gottheimer. “Clearly we have work to do in the Congress to provide some of that guidance and direction.”
