Utah Republicans push back against government regulation of crypto
On Friday, Utah’s Republican senator Mike Lee outlined three outcomes that could imperil the nascent cryptocurrency industry: (1) the creation of a central bank digital currency, (2) patchwork regulation by states, and (3) heavy-handed federal regulation.
Speaking at the Permissionless III crypto conference in Salt Lake City, Lee said that the trio of possibilities presented grave risks to the fast-growing digital assets sector. Lee and his fellow Republican congressman John Curtis were particularly critical of federal and state regulation of digital assets, likening it to financial surveillance that could stifle the crypto industry.
“Instead of coming after you, we should be your protectors,” Curtis said about the government’s…
