CoinDesk Podcast Network
COINDESK DAILY: Could We Still See a Crypto Bill This Year?; FTX’s Accounting Firm to Pay SEC $1.95M in Settlements
Sep 18, 2024
In this engaging discussion, Rep. Patrick McHenry and Sen. Cynthia Lummis weigh in on the potential for cryptocurrency legislation to pass before year's end. McHenry emphasizes the urgency as election season approaches, while Lummis shares her unwavering support for advancing crypto bills. They also touch on the recent news of FTX's accounting firm reaching a $1.95 million settlement with the SEC, revealing the ongoing regulatory scrutiny in the crypto world. Tune in for insights from these key lawmakers!
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Quick takeaways
- Key lawmakers believe there remains a slight chance for a crypto bill to pass before the year's end despite electoral challenges.
- Prager Metis's $1.95 million SEC settlement highlights the critical need for compliance and accountability within auditing practices in the crypto sector.
Deep dives
Prospects for Crypto Legislation
With the U.S. elections approaching, the likelihood of crypto legislation being passed this year appears slim. However, key lawmakers, including Rep. Patrick McHenry and Sen. Cynthia Lummis, maintain that there is still a possibility for a crypto bill to be approved before the end of the legislative session. Sen. Lummis emphasized the urgency of the situation, citing the need for a regulatory framework similar to that in Europe. She believes that the lame duck period, following the elections and before new members take office, could present an opportunity for progress on this important legislation.
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