WASHINGTON—A crypto milestone has been reached by the 118th Congress, which has now seen 50 bills and resolutions introduced related to regulating Crypto.
“These numbers may be eye-popping but by no means surprising. The amount of legislation currently introduced in Congress reflects the passing of the Infrastructure and Investment Jobs Act that became law in 2021, representing the first time a new law that directly impacted the crypto industry was passed,” reported Forbes. “With the surge in the crypto markets that continued after that bill became law last year up until the recent crash, much has also been reported in the media regarding a surge of crypto lobbying efforts as well as attempts to influence politicians with significant campaign fundraising as well.”
In addition, Forbes said the types of policy impacts that digital assets touches from foreign relations, monetary policy, consumer protection, and interpretations over how digital assets are considered, whether as securities or commodities for the industry has broadened attention among a larger pool of policymakers.
“(Combining) multiple policy impacts with emerging technologies such as decentralized finance and NFTs, makes the exploration of new legislation for the industry a fascinating and complex path for D.C. policymakers,” Forbes stated.
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