Swing and a miss. The Blockchain Association and some in the space are unhappy with the White House's proposed crypto framework. Can it be salvaged?
it was using environmental concerns as a pretext for extending its control over digital assets:
“If you don’t like how someone is using energy, pay a higher price than them [...] No amount of hysteric screeching about climate change will stop the next block from being mined.” “Today’s reports and summaries from the Biden administration’s executive order on digital assets are a missed opportunity to cement U.S. crypto leadership,”Kristin Smith, executive director of the U.S.-based Blockchain Association.
"In the hearing yesterday [on regulating crypto], many seemed worried about other countries overtaking the US. Regulation by enforcement is not regulatory clarity. If we regulate by enforcement, it also gives other countries a clear runway to figure out how the tech works for their interests, which may be contrary to the US'."
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