The lack of consensus among Democrats means it's unlikely Congress will act anytime soon to pass major legislation on the direction of regulation of the new market.

The clash can be explained in part by cryptocurrency’s growing influence in Washington and in members’ districts. The industry is amassing an army of lobbyists and recruiting former Democratic lawmakers and regulators to advance its cause. It comes as crypto startups have set up shop across the country, with state and local leaders seeking to become the home for the businesses and the jobs.

  • @toneverends
    2•2 years ago

    FFS, neither headline nor summary text nor community context give any clue whether “crypto” refers to encryption or blockchains.