The latest on crypto in Congress and our Tornado Cash lawsuit
The latest on crypto in Congress and our Tornado Cash lawsuit
Recently, Coin Center has been meeting with agency officials, new Members of Congress, and new Committee leadership to advance our priorities and policies that protect the use of open, cryptocurrency networks.
This month, the House Financial Services and Agriculture Committees are planning to mark up and send to the House Floor legislation regulating stablecoins and the issuance and trading of cryptocurrencies. This also follows a recent hearing on both topics (and another hearing where Federal Reserve Chair Powell concluded that cryptocurrencies like Bitcoin have "staying power").
Coin Center has been providing advice and input to Congress for the past couple months regarding these bills, and we will continue reviewing updated drafts to ensure that software developer's free speech rights are protected, and open, permissionless networks do not face unnecessary regulation.
Over in the Senate, Senators Lummis and Gillibrand are also working to reintroduce their comprehensive Responsible Financial Innovation Act, and they have been kind enough to solicit our thoughts. Support for cryptocurrency measures in the Senate will be key to any bill becoming law in the near future, and we look forward to continuing to work with Senators Gillibrand and Lummis as this bill advances.
On the litigation front, the government filed its cross-motion for summary judgment and response to our motion for summary judgment in our Tornado Cash case. You can see all court filings here. We will be filing a reply in the next couple of weeks and then it will be up to the judge to make a decision.
Coin Center in the News
The Atlantic - Is Crypto Dead?
“Some of these projects are potentially revolutionary,” [Jerry] Brito told me. “But I think a large portion of the ecosystem was completely cynical. That’s not helpful.”
Wall Street Journal - Courts Put Privacy Over Transparency in FTX, Other Crypto Bankruptcies
“A list of exchange users amounts to a list of people who might make for good robbery targets,” said Neeraj Agrawal
CoinDesk - U.S. SEC Out-of-Bounds in Dragging DeFi Into Proposed Exchange Rule, Industry Says
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