Senator Tim Scott stated the SEC was to blame for the investor’s loss since it failed to give the proper instructions, which resulted in the absence of investor protection at insolvent companies like FTX, Voyager, Celcius, and others.
To put tougher anti-money laundering rules on cryptocurrencies, Senator Elizabeth Warren, an outspoken critic of the cryptocurrency sector, has committed to teaming up with Senator Roger Marshall to introduce legislation.
Senator Tommy Tuberville has reintroduced a bill that will allow United States 401(K) retirement plans to include exposure to cryptocurrencies.
Senator Sherrod Brown, said that cryptocurrency companies spent millions of dollars on Super Bowl 2022 advertisements the previous year without disclosing the high transaction costs, the potential for loss, and the blatant theft that plagues the market. There was not a single advertisement during Super Bowl 2023 this year.
A venture capitalist and U.S. Senator JD Vance said that “overbearing” restrictions may have prevented the creation of the Internet decades ago. He claimed that “our regulatory strategy should fundamentally be to protect consumers while ensuring that we don’t ruin the dynamic upside of this.”
Lawmakers in Wyoming have adopted a measure prohibiting state courts from requesting that someone turn up the private keys to their bitcoin and digital assets. The public key must be able to provide information about the digital asset for the legislation to be applicable.