Lawmakers Renew Calls for US to Lead on Crypto Innovation

“Cryptocurrency networks are much more than alternatives to the dollar or payment mechanisms.”

That was the message delivered to the heads of the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) Wednesday by three lawmakers and members of the Congressional Blockchain Caucus (CBC), a bipartisan group launched last year in a bid to support the technology and its interests on Capitol Hill.

Penned by Jared Polis (D.-CO), Tom Emmer (R.-MN) and David Schweikert (R.-CA), the letter does much to repeat the CBC’s past public statements, but notably comes weeks after both agency heads testified on cryptocurrencies, explaining to the U.S. Congress what they saw as their potential amid what was then a tremendous spike in their market valuations.

In this way, the letter encouraged SEC chair Jay Clayton and CFTC chair J. Christopher Giancarlo to follow through on efforts to collaborate with the U.S. Treasury Department and the Federal Reserve on legislative actions. The signatories went on to thank the regulators for their testimony, while also advising they maintain a “light touch” in their effort…

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