TechFlow reports that the Crypto Market Integrity Coalition (CMIC), a group comprising over 50 crypto companies including Solidus Labs, Coinbase, and Circle, has sent an open letter to the White House urging the Biden administration to establish clear regulations for the digital asset industry.
The coalition stated that the lack of clear regulation has harmed consumers, stifled innovation, and caused compliant U.S. companies to lose market share.
They emphasized that regions such as the European Union, Japan, and the United Kingdom have already begun establishing regulatory frameworks, and urged the U.S. government to work with Congress this year to enact foundational legislation. Meanwhile, cryptocurrencies are gaining significant attention in the upcoming election season, with Republicans expressing support for the crypto industry and Vice President Harris's team beginning to engage with it. Additionally, advocacy group Stand with Crypto announced two new appointments to further advance industry development.
