State legislators call for democrats to support crypto regulation

Mariland Delegate Adrian Boafo and New York Commonment Clyde Vanel called on top of democratic legislation to establish a federal regulatory frame of cryptocurrency.

Legislators are warned in a letter that inconsistent state laws could interfere with financial innovations. They addressed the Senators Elizabeth Warren and Amy Klobuchar, as well as representatives of Makina Waters and Angie Craig, emphasizing the necessity of comprehensive legislation during 119. Congress. Congress.

Legislators have announced the National Head Office of New York with their Bitlicense program and digital working groups of currencies, together with the recent legislative efforts of Mariland.

They pointed out that at least 35 countries, Washington DC and Puerto Rico, and Puerto Rico, introduced the laws relating to the crypto, creating a fragmented regulatory landscape.

Limiting financial freedom for Americans

“Without federal action, this fragmented approach will only grow, creating uncertainty for businesses and limiting financial opportunities for millions of Americans,” they wrote.

Boafo and Vanell emphasized that federal inactivity leaves consumers vulnerable to the instability of fraud and market.

They also noticed that CRIPTO adoption increases, especially among historically underlyed communities, invoking Kansas city of federal reserves that black investors are more likely to have cryptocurration than traditional stocks.

The letter called to protect the biparted framework to consumers, supports responsible innovations and maintain the US as a leader in digital finances.

The letter was first export from Cripto in America.