What are all the best cryptocurrency meetups near me?
Why are digital currencies creating a buzz in Washington? In a whirlwind of meetings and lobbying events, crypto companies are seeking to sway the stance on Capitol Hill. Spearheading this movement are Coinbase and Stand With Crypto, both with a dream of shaping industry-friendly policies.
However, it’s not all roses. As the industry pushes for clearer regulations, Capitol Hill is preoccupied. With priorities like the imminent threat of a government shutdown, the Farm Bill, and the National Defense Authorization Act, will crypto get its moment in the spotlight? Does it answer the question asking, “What are all the best cryptocurrency meetups near me?” Let’s find out!
Growing Pains
This year, the House Financial Services Committee gave a nod to two crucial bills that seek to provide clarity over existing financial rules for the crypto sector. Lobbyists are hopeful, yet the road ahead might not be as smooth.
Crypto has witnessed a boom in recent years, but with this growth, companies face increased scrutiny. Think about this: in the first half of 2023 alone, the industry splurged almost thirteen million dollars on federal lobbying. And leading the charge? Coinbase, with a whopping one-point-four million dollars.
High-profile execs are not sitting back. Coinbase CEO Brian Armstrong is in the thick of things, engaging with both the blue and red sides of Congress. He’s not alone; joining him are top shots from OpenSea, the leading non-fungible token marketplace. Their mission? To ensure the future of crypto isn’t “erased by the government,” according to Kara Calvert, the head of U.S. policy at Coinbase.
And OpenSea? They’re thrilled policymakers are diving into the world of NFTs, hoping for a joint effort in creating conducive regulations.
Can Crypto Woo Washington?
But the question remains: Will all this effort make a difference? Mark Hays from Americans for Financial Reform and Demand Progress suggests that it’s unclear if this sudden push for a grassroots campaign will leave a mark.
And what’s on the docket for these bills? The House is set to consider them, but their fate in the Senate remains shaky. Instead of focusing on the industry’s growth, there’s bipartisan interest in curbing crypto’s use for illicit activities.
Senate Banking Committee Chair Sherrod Brown isn’t too keen on letting the crypto industry draft their playbook, emphasizing the need for a framework that guarantees the safety of American assets. But with Brown up for re-election, Coinbase is upping its game in Ohio, hosting events to emphasize the industry’s significance in the state’s economy.
Crypto’s Future: Clear or Clouded?
It might be a tricky path ahead for crypto legislation. Ian Katz from Capital Alpha Partners states that without crucial support, industry-backed legislation might be a distant dream.
Meanwhile, internal conflicts brew within the Republican Party as a government shutdown looms. With an unfinished fiscal agenda, divisions are more evident than ever. House of Representatives Speaker Kevin McCarthy is on a mission to pass vital bills, hoping to rally support for a temporary funding solution.
However, some Republicans demand even more significant spending cuts, revealing a divide that could impact the federal budget severely. As Transportation Secretary Pete Buttigieg raises concerns over potential setbacks, especially in sectors like air traffic control, the future remains uncertain.
With crypto making waves and Washington grappling with its fiscal future, the interplay between technology and policy has never been more intriguing. As Capitol Hill teeters on the brink of major decisions, one wonders: What will the future of finance look like in America?
