5 takeaways from the DC blockchain summit 📝: andrewrchow
Senators Cynthia Lummis and Kirsten Gillibrand at the DC Blockchain Summit in Washington, D.C., in May 2022.taken a huge downturn over the last month
The summit, which was attended by over 800 people, proved that there are many crypto supporters on the Hill, and that formal processes are underway to grow and normalize the industry. Here are some of the main takeaways from the summit.Kirsten Gillibrand and Cynthia Lummis make an unlikely pair: the progressive New Yorker and the Wyoming conservative. But on Wednesday, they joined forces to talk about a crypto bill they are spearheading together, called the Responsible Financial Innovation Act.
Gillibrand pledged to release the bill next month, and says she hopes that it will come to a vote either at the end of this congress or next year. “I’m very optimistic,” she said. Lummis called the collaboration an “open and happy and positive process… this subject is not partisan.”The two other senators who showed up in person were Steve Daines and Cory Booker . When Booker took the stage, he first paused to recognize the toll of the shooting in Texas.
“The industry has grown too fast and suffers from a hype-based, ‘shoot, ready, aim’ approach to innovation and value creation,” he said. “The OCC will continue to take a careful and cautious approach to crypto in order to ensure that the national banking system is safe, sound, and fair.”An internal battle is brewing at the SEC.
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