Crypto Advocate Urges for Balanced Regulations
cameron Winklevoss, co-founder of Gemini, is calling for crypto regulations that shield the industry from federal overreach. In a recent statement on X, Winklevoss argued that regulatory actions have been misused to stifle crypto innovation.
He believes that federal agencies are being exploited for political motives against digital assets. Winklevoss insists that future crypto laws should make it difficult to weaponize these agencies against the crypto sector. “We need rules to protect builders and companies, not just investors,” he stated.
Winklevoss criticized Senator elizabeth Warren, alleging her influence on the SEC is undermining the crypto industry. He fears Warren could extend similar influence over the CFTC and other financial watchdogs.
He warned that regulators like the SEC and CFTC could be used by political figures to push an anti-crypto agenda. Winklevoss emphasized the need for a “zero trust model” when dealing with regulators.
Winklevoss also expressed distrust toward financial regulators, claiming anti-crypto policymakers have infiltrated these agencies. He specifically mentioned SEC Chair Gary Gensler, suggesting regulatory agencies could be influenced by political ideologies.
Despite these concerns, Gemini recently secured in-principle approval for an Investment Firm License in Malta, showing the company’s commitment to international regulatory standards. This aligns with the broader crypto industry’s concerns about potential “debanking” practices targeting crypto-related businesses.