A number of congressional lawmakers who, despite their differences on many legislative matters, support implementing new rules to regulated cryptocurrency usage.
Carolyn Maloney, a Democratic senior member of the House Financial Services Committee (HFSC) said that people don’t realize there’s nothing backing these virtual currencies.
Tom MacArthur, an HFSC Republican stated that it is necessary to look carefully at all of the cryptocurrencies and make sure individuals don’t get taken advantage of.
Members of the most libertarian and anti-regulatory group in Congress, the House Freedom Caucus said that they were open to making an exception to address the perceived threats of cryptocurrencies.
I‘m a total free-marketer, so I don’t want to regulate. But if it’s a currency that could destabilize the whole economy, you’re going to have that conversation.
Member of the conservative House Freedom Caucus
These comments follow several high-profile congressional committee hearings in which the chairmen of the Securities Exchange Commission and Commodity Futures Trading Commission testified that they were “open” to new federal cryptocurrency regulations.
Last week, Rob Joyce, White House cybersecurity official stated that the government was still studying and understanding the matter and was unlikely to pursue a new regulatory framework within the near future.