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White House Blames Congress for Failure to Enact Crypto Regulations

• klyrs 4y ago
  Headline is boneheaded. The "white house" cannot enact laws. That's the role of Congress. We all know this, right? The tagline is more sensible: "Four senior Biden officials penned a note Friday urging lawmakers to hasten their efforts to create a regulatory framework for crypto." The executive wants the legislative to enact some laws. This is how it should be. There's been a rising trend of presidents issuing executive orders, which are then removed by the next president, causing chaos and uncertainty. That's no way to run a country, especially in the financial sector.
  • rcme 4y ago
    The SEC is responsible for regulating securities and is part of the executive branch of the government.
    • ss108 4y ago
      Their regulatory power is delegated by Congress and they can only implement regulations based on statutes. The same sophomoric crypto ppl who would adopt the headline's attitude would likely be among the first to complain that the SEC exceeded its authority with regulations if it were to take the matter into its own hands.
• LatteLazy 4y ago
  It is literally their job... And in the vacuum left by their refusal to take even the widely supported actions, wise people like the CFTC have mostly not acted. And people like Gensler play at regulating, giving a false sense that things are regulated or someone is doing something useful...