federal Crypto Regulation Urged by Maryland and New york Lawmakers
Two lawmakers are pushing for a federal approach to cryptocurrency regulation. Maryland Delegate Adrian Boafo and New York Assemblyman Clyde Vanel have written to key Democratic leaders. They want a unified national policy. The aim is to prevent a patchwork of state laws.
Boafo and Vanel sent a letter to top Democrats.They warned that inconsistent state rules could harm innovation. They wrote to Senators Elizabeth Warren and Amy Klobuchar. They also contacted Representatives Maxine Waters and Angie Craig. the letter stresses the need for a clear federal framework. They believe this will protect consumers and foster growth.
Currently, at least 35 states have their own crypto rules. This includes Washington D.C. and Puerto Rico. They fear this could confuse businesses and investors.They argue for a cohesive federal law. This would replace the current fragmented system.
New York leads with its BitLicense. Maryland has also made strides in crypto legislation. They see these as models for a national policy. They worry that without federal action, the U.S. risks falling behind. They want congress to act during the 119th session. They say a national policy is vital. It would reduce uncertainty and promote fair play.
Without federal guidance, the crypto market may suffer. They believe a federal law would help. It would also safeguard users and encourage innovation. They cited New York’s BitLicense as an example. They also mentioned Maryland’s recent efforts. They believe a federal law would bring clarity. It would also prevent a chaotic legal habitat.
They fear that a lack of uniform rules could limit financial freedom. It could also hinder economic opportunities. They want to shield consumers from fraud. They want to stabilize the market. They want to keep the U.S. as a global leader in digital finance.
They highlighted crypto’s growing popularity. They noted a Crypto In America reported the letter first.The lawmakers want to prevent a disjointed approach. They want to avoid stifling progress.
They pointed out that Black Americans are more likely to invest in crypto. The kansas City Federal reserve backs this view. They say a federal law would benefit everyone. It would protect investors and boost the economy. They want a bipartisan effort. They hope to support innovation while ensuring safety. They want to prevent fraud and market swings.
They cited a study. It shows Black Americans are more likely to own crypto than conventional stocks. They want to tap into this trend. They want to tap into this trend.They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend.They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend.They want to tap into this trend.They want to tap into this trend.They want to tap into this trend.They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. they want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend.They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. they want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend. They want to tap into this trend.
