Arthur Hayes, a prominent figure in the cryptocurrency space, is cautioning that the focus on crypto-friendly policies may wane once the 2024 election concludes.
In his latest commentary, Hayes argues that for pro-crypto voters to secure regulatory clarity, they must advocate for it before the election with the current administration in place.
Hayes emphasizes that crypto assets should be protected under free speech laws. He asserts that blockchain-based currencies and tokens are forms of protected speech and any regulations that limit the holding or transfer of these assets would be unjustified.
He also warns that if clarity on crypto regulation is not achieved before the election, the industry’s advocates may find themselves without influence post-election.
Hayes points out that politicians, including potential candidates like Biden and Trump, may not prioritize crypto policy once their re-election bids are no longer imminent.
Moreover, he suggests that international conflicts could overshadow domestic crypto concerns, further diminishing the focus on cryptocurrency regulation.
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Tennessee Congressman John Rose has introduced a significant piece of legislation called the “BRIDGE Digital Assets Act,” aimed at reshaping the U.S. regulatory framework for cryptocurrencies.
The recent ruling by England’s High Court of Justice has declared Tether’s USDT stablecoin as a form of property, a decision that could significantly influence its future trajectory.
Cryptocurrency exchange CEX.IO has officially recommenced its services in the UK, following a compliance overhaul to meet the Financial Conduct Authority’s (FCA) new regulations.