DCG Seeks Regulatory Clarity Amid Crypto Oversight Concerns
The Digital Currency Group (DCG) has sent a letter to Senate Majority Leader John Thune and Minority Leader Charles Schumer, urging them to pass the Digital Asset Market Clarity Act. The act aims to provide regulatory clarity for digital assets and safeguard consumer protections.
The letter highlights that without such clarity, companies may choose jurisdictions with more welcoming regulations, potentially leading to a brain drain of talent, capital, and innovation in the United States.
New York Attorney General Letitia James has testified before Congress, urging them to strengthen crypto oversight. She criticized the proposed CLARITY Act for preempting state investor-protection and anti-fraud laws, citing concerns about conflict-of-interest tied to the current administration's crypto ties.