US lawmakers discuss potential obstacles to crypto regulation and call for bipartisan cooperation

Odaily Planet Daily News At a special hearing on digital assets held by the U.S. House Financial Services Committee on Tuesday, lawmakers pointed out the obstacles that may be encountered in trying to regulate cryptocurrencies, while also calling for bipartisan cooperation. Rep. Tom Emmer said at the hearing: "Crypto technology transfers economic power from central institutions back to the people. The wrong leadership, our past government, is afraid of this shift. They did everything they could to stifle it." At the same time, some Democrats expressed dissatisfaction with Trump's launch of Meme Coin on the eve of the presidential inauguration last month. Rep. Sean Casten called it unstable and of no value, "It may not be worth as much as a Bible, a pair of sneakers, a steak or a bottle of water." Some Democrats also expressed concern about the closure of the Consumer Financial Protection Bureau (CFPB), which now seems to be in danger. Last weekend, Russell Vought, the acting head of the agency, reportedly instructed employees to "stop all supervision and inspection activities" and suspend law enforcement actions.