Regulate Crypto? Even Libertarians Should Support This Bill – Bloomberg

The good news is that last week the House of Representatives passed a bill that would establish regulation for digital asset markets. It is not common for the libertarian elements of the US political system to support new laws, but in this case they do. Whatever objections one may have to the details of the bill, it would put the crypto sector on sound legal footing and enable its growth within the US. The bill also would place much of crypto regulation under the Commodities Futures Trading Commission, which is likely to be friendlier than the SEC.

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What are the broader lessons here? First, Congress has been very slow to pass meaningful legislation on crypto, and thus many crypto innovators have a low opinion of the US as a place to operate. Second, when Congress does finally get around to writing a bill and moving it forward, the results can actually be reasonable rather than crazy.

Third and finally, it is not too late. Crypto is still in its very early years, and it’s unclear which of its services will prove enduring. But the opportunity to find out has not been lost.

Source: Regulate Crypto? Even Libertarians Should Support This Bill – Bloomberg