Republican Senator Thom Tillis emphasized the need for a 'light' regulatory framework in the crypto industry to tackle risks like collapses similar to FTX and illicit financing. He aims to create a favorable environment for digital assets to develop.
Deputy Treasury Secretary Wally Adeyemo requested Congress for enhanced authorities to address crypto-linked crimes, highlighting the Treasury's efforts against illicit finance, terrorism, and sanctions evasion.
Sen. Thom Tillis stressed the necessity of a regulatory regimen for the crypto industry to manage risks effectively and foster a conducive environment for digital assets to flourish, warning against missing the opportunity to become a favorable jurisdiction.
Senator Tillis mentioned the potential differences in crypto regulation viewpoints with a change in administration post-election, expressing willingness to collaborate with the Treasury to implement agreed-upon regulations during the current Congress period.
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