When it comes to crypto issues, bank lobbyists’ usual friendliness with Republicans has sometimes been turned on its head. While crypto lobbyists have liked to say digital assets are nonpartisan, Republicans have generally stepped forward as the industry’s most reliable allies, but a lot of murkiness remains. And the fact that Democrats broke ranks to push the latest legislation forward isn’t going unnoticed. Democratic Reps. Jim Himes (D-Conn.), Josh Gottheimer (D-N.J.), Ritchie Torres (D-N.Y.), Steven Horsford (D-Nev.), Wiley Nickel (D-N.C.) and Brittany Pettersen (D-Colo.) took a stand against their own party on the wide market-structure bill, and that may be the best outcome pro-crypto forces could have hoped for. The lawmakers’ votes indicate they disagree with Securities and Exchange Commission Chair Gary Gensler that existing law is sufficient for policing crypto. They don’t think the status quo is working.
Don’t Pop the Champagne on U.S. Crypto Bills – Progress in Congress Has Been Costly
