Why some crypto traders want the congress to slow down a bill on the structure of the market

Posshack rises against a bill on the structure of the DC outside market, despite the White House’s request to take care.

Some traders and investors meet with the regulators in the hope that they will be able to convince the American Securities and Exchange commission (SEC) to clarify its opinions on cryptographic regulations before the Congress can adopt a bill on the structure of the market, according to three familiar sources with the arguments between actors in the cryptographic industry.

The hope among these investors is that the SEC under the new president Paul Atkins can provide less restrictive directives that the congress would impose in the legislation establishing road rules for cryptographic trade. They also believe that obtaining government regulatory clarity is less urgent than in Biden administration, because in recent months, the SEC and the Ministry of Justice seem less hostile.

An 180 of the dry

Recently, the dry has published advice to say that stable And Samewhich he defines as tokens “inspired by memes, characters, current events or trends”, are not titles. He too Orientation issued On the disclosure requirements in cases where cryptographic assets are titles, although advice decree to clarify which tokens are titles in the first place. Atkins, who has a record of his moment when he was the dry commissioner for promoting light regulations, should be sworn in the coming days.

“Now that Gary Gensler has left, there is this thought that” maybe we should not move too fast “because in a perfect world, they would not be regulated,” said a source.

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A lost cause

However, two lobbyists and a member of the staff of the Senate banks committee said that the hopes of these investors for the SEC act independently of the congress are a lost cause, due to the eagerness of the Congress to act and that Atkins deference projected to the Congress when it comes to regulating the industry. The committees of the financial services of the Chamber and Agriculture would already be written a bill on the structure of the market, the committees of the Senate Banque and Agriculture preparing to follow their example. However, all of this is likely to come after the adoption of Stablecoin’s bills, which have not yet been voted on the ground.

The president of the Chamber of Financial Services Committee, French Hill, also said in a Recent Industry Summit that a bill on the structure of the market would be revealed very soon, while the president of the subcommittee of digital assets of the Bryan Steil Chamber organized an audience on the legislation on the structure of the last week. White House Crypto bonding, in the meantime, Fortune This president Trump was “categorical” to the adoption of both the legislation on stablescoin and the structure of the market by August.

Find out more: Congress is to save stablescoins

‘The Apex of Crypto Power‘

According to congress staff, these investors make a mistake not to think about the quantity of dry advice which could change in the coming years and becomes hostile again towards the crypto under another presidential administration. “What they do not understand is that the regulatory pendulum oscillates and the political pendulum swings in both directions,” they explained. “We are a little close to the apex of the power of the crypto because frankly, all the money spent for the elections and the fact that their favorite candidates were elected. But this moment of time will not last.”

Atkins promised to members of the congress during its confirmation before the Senate Banque committee to “work with my colleagues commissioners and congresses to provide a firm regulatory base for digital assets”. Although he has not specifically said that he expects Congress to assume a regulation before publishing dry clarification advice, his statements report a much more collaborative attitude than his predecessor Gary Gensler, who often argued that existing regulations were satisfactory to regulate the crypto and that he did not need additional directives in the form of a law on congress.