According to the former Congressman Niley Nickel, cryptocurrency regulations should be protected through the Congress to become a lasting and significant act of regulations.
In an exclusive interview with a video with Turner Wright, Cointelegraph Nickel called on double -sided cooperation in order to push comprehensive cryptocurrency regulations. Former congressmen added:
“I think that for anyone who cares for this problem, it is really important to go back and realize that if you want a lasting change in Washington, you need to transfer the recipes through the congress. Otherwise, if you talk about executive orders, it will simply go there back.”
“You don’t want to have a mess that we saw only a few months ago from Sec Gary Gensler – you must get recipes through the Congress,” Nickel repeated.
President Trump of January 23 The executive order of the Digital Asset Working Group, which also forbade the development of the Digital Central Bank (CBDC) currency, and an order establishing Bitcoin strategic reserve together with a separate cryptocurrency action, were examples of executive actions that may be released at a later date.
The former Congressman Wiley Nickel is in the photo second from the left on the top of Blockworks Digital Asset Summit. Source: Cointelegraph
Related: Congress on the right track to Stablecoin, Bills Structure Structure until August: Blockchain Association
Both congress chambers are in a hurry to push through significant legislation
Rep. Volume Emmer, most of the House of United States Representatives, re -introduced the provisions prohibiting the CBDC in the USA on March 6.
Senator Wyoming, Cynthia Lummis, also re -introduced the Bitcoin Act in March, which is based on an earlier account in the same title, but allows the US to buy over 1 million Bitcoins (BTC).
Act on the Bitcoins of Senator Lummis from 2025. Source: Senator Cynthia Lummis
Rep. Byron Donalds recently announced that he would develop provisions regarding the codification of Bitcoin strategic reserve under the law – the Protective Original Order of President Trump was repealed by the future administration.
On March 12, the House of Representatives repealed the principle of IRS broker, requiring decentralized financial platforms to report information to the internal revenue service in voting 292-131.
Speaking at this year’s Blockworks Digital Asset Summit, a representative of Democrat Ro Khanna said that Congress should be able to undergo comprehensive cryptocurrency regulations in 2025, including the Stablecoin Act and the Act on the market structure.
Warehouse: Referring Sec at cryptography leaves key questions unanswered
