JPMorgan urged Congress to pass clear digital asset legislation with robust safeguards, warning that without robust oversight, crypto innovation could create shadow-banking risks and undermine financial stability.
More than 60 leading crypto executives urged Senate leaders to pass the Digital Asset Market Clarity Act with its blockchain developer protections intact.
The Senate Banking Committee released the full 309-page text of the Digital Asset Market Clarity Act ahead of Thursday’s markup, setting up a high-stakes battle over stablecoin yield rules.
Senator Warren stressed that digital currencies are used as an avenue for criminal activities, and that must be addressed through stringent regulatory frameworks.
