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Panelists at Senate Banking Hearing on Crypto Market Structure Call for Regulation ASAP
- The U.S. Senate Banking’s Subcommittee on Digital Assets hosted a hearing on digital asset market structure.
- Panelists urged Congress to pass digital asset legislation promptly.
- Bitcoin was not discussed, but it would fall under the crypto regulation.
- Senators issued principles for digital asset market structure.
- Experts and senators, including Sarah Hammer and Greg Xethalis, participated in the hearing.
- The importance of combating illicit activity and protecting crypto investors was discussed.
- Concerns were raised about the consequences of delaying comprehensive market structure legislation.
- Consumer protection elements like bankruptcy protection were highlighted.
- The need for timely crypto regulation in the U.S. to prevent other jurisdictions from imposing stricter rules was emphasized.
- Economic implications of delayed regulation on crypto development were discussed.
- A call for bipartisan discussions and collaboration on crypto legislation was made.
- Senator Lummis urged engaging in bipartisan talks and not letting personal affiliations hinder legislative progress.
- The article was originally published on Bitcoin Magazine by Frank Corva.
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