By Mark Hays, Associate Director for Cryptocurrency & Financial Technology
The latest version of the Senate crypto legislation was released late on May 11, just two days before the bill gets debated and voted on in the Senate Banking Committee. Negotiations on this bill have lasted months, largely behind closed doors and the crypto industry had a front seat at the drafting table. Even many Senate Democratic offices, including the Ranking Member of the Banking Committee, saw only excerpts during the negotiations.Â
Now we know why: the bill is piled high with giveaways that will enrich the crypto industry and that puts the rest of us at risk, regardless of whether we choose to invest in crypto.Â
