Ron Wyden, one of the most influential Democrats in the US Congress, wants to prevent a “witch hunt” for crypto.
According to the Financial Times report, Wyden warned Congress of the dangers of anti-crypto regulations.
Wyden compared cryptocurrencies to the early stage internet.
“Even though the discussions about strict regulations continue, I want to be on the side of innovation. When I think of crypto, instead of going through wire transfers and lots of banks, I think of someone who has a child 1000 miles away and wants to help them in an emergency. I am constantly looking for innovation. My heart beats for this”
Wyden’s speech came after discussions of crypto trading platforms.
Republican Tom Emmer is also among the most prominent crypto advocates in Congress. Emmer has repeatedly criticized the SEC for not approving Bitcoin ETFs.
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