US sector overseers oppose the draft law on the structure of the cryptoma market

US sector overseers oppose the draft law on the structure of the cryptoma market

Title: US sector guards reject the draft law on the crypto market structure draft from

The team before the Financial Service Committee of the House of Representatives has submitted a comprehensive report in which it criticizes the cryptom market and demands an advantageous regulation. But now US sector guards have come together to express their rejection to the proposed draft law on crypto market structure development.

In a detailed email to the Financial Service Committee of the House of Representatives, various organizations, including "Americans for Financial Reform" and the Center for Responsible Lending, explained that interest groups in the cryptoscut had actively acted against the proposed bill. This is also referred to as "Digital Asset Market Structure Discussion Draft". The guards claimed that the cryptoscept had failed to show useful usage scenarios beyond risky expenditure.

The US sector guards were particularly concerned about the determination of the draft law, which would oblige the SEC to evaluate new rules on the basis of "innovation" instead of regulations on all securities markets as before. They accused the cryptom market to search for an advantageous regulation under the pretext of the crypto progress.

The impetus for this detailed report was the development of a clear regulatory structure and suggestions for the cryptos sector in the USA. In July 2023, the CEO Patrick Mchenry plans to present a government structure. Recently, the SEC announced that they have taken measures against two well-known crypto exchanges, coinbase and Binance, both of which are known for their considerable trading volumes. Surprisingly, this had little effect on the Bitcoin course.

The sector guards emphasized that the congress had to support the recurring administrative activities of the SEC to protect consumers. In contrast, various legal systems in Europe and Asia actively strive to attract crypto companies that migrate from the USA.

It remains to be seen how the Financial Service Committee of the House of Representatives will react to the concerns of the US sector guards and whether this will have an impact on regulating the cryptos sector. It is clear that the focus is still on the cryptoma market and requires an advantageous regulation to exploit its full potential.