Blockchain Association CEO says Crypto vs regulators fight will continue for up to 2 years
Kristin Smith explained that crypto supporters are continuously fighting against the crypto critic regulatory bodies in the United States (US).
The Blockchain Association is an organization consisting of companies in the digital asset and blockchain industry. This association helps the crypto industry to fight against bad crypto laws & policies in the US. Ripple (XRP), Circle (USDC), Polychain Capital, & Cumberland DRW LLC are top supporters of this association.
On 28 April 2023, Blockchain Association CEO Kristin Smith spoke about the current uncertain regulatory environment in the US, during a panel at Consensus 2023.
Kristin said that the Crypto sector is at war against American regulators and especially against the United States Securities and Exchange Commission (SEC). Senator Elizabeth Warren (D-Mass.).
According to Blockchain Association CEO, Warren has an anti-crypto army & also she is openly showing her crypto-negative stance via advertisements on Twitter.
Warren proposed the controversial Digital Asset Anti-Money Laundering Act (DAAMLA) in Dec 2022 but failed to go through approval or high-level discussion.
Kristin tries to give confidence to the crypto community and confirms that the pro-Crypto army is continuously working to support the crypto sector against the anti-crypto army in Washington every day.
In this way, Blockchain Association CEO explained that the fight is going on between the Crypto market & Government agencies and she expects that fight will last nearly 2 years.
“So we’re fighting. I don’t think this is a war that lasts forever, but we’re going to probably be at war for the next 18 to 20 months,” Kristin said.
US & crypto regulation
In Q1 2023, the US SEC & other government agencies showed very strict action against top crypto companies. In response, all the crypto leaders started to criticize the regulatory bodies badly.
Recently US Congressman McHenry confirmed that several joint hearings will take place in the next month to address unclear regulatory policies in the US jurisdiction.
Read also: MasterCard’s Web3 tool aims to prohibit bad actors’ activity in the crypto space
