Crypto Industry Needs ‘Light’ Regulatory Framework to Combat Risks: US Sen. Thom Tillis The US Republican Senator Thom Tillis has called for a new regulatory
framework for the crypto industry, which would “create the most hospitable environment for digital assets to thrive.”
During the Senate Banking Committee meeting on Tuesday, Tillis stressed
“light” regulation to help curb illicit crypto financing. His remarks came after Deputy Treasury Secretary
Adewale Adeyemo addressed the urgency of regulating cryptos due to
national security risks. “One thing I’d tell people in the crypto or digital assets space that say
‘Nothing to see here, everything is fine’ – they’re wrong,” Sen. Tillis noted. Senator Tillis added that the crypto regulation would
“vastly” differ if there is a change of administration after
November elections. Banking Committee chair Sherrod Brown released a
document supporting the Treasury’s enforcement goals before Adeyemo’s testimony. According to Brown’s statement, he called for the right “tools” to crack down on illicit finance with
digital assets.
