Unchained Did FTX Ruin Crypto’s Image on Capitol Hill? Two DC Insiders Discuss - Ep. 450
Jan 31, 2023
Sheila Warren, CEO of the Crypto Council for Innovation, and Miller Whitehouse-Levine, Policy Director of the DeFi Education Fund, dissect the fallout of FTX on crypto regulation. They predict a busy year for Congress focused on stablecoin oversight and the implications of recent legal battles, like Ripple’s with the SEC. The shift in lawmakers' attitudes towards crypto post-FTX is explored, as is the urgent need for better policymaker education to prevent future crises in the space.
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Difficult Legislative Environment
- FTX’s collapse and the new Congress significantly changed the legislative landscape.
- Passing any legislation, including crypto-related bills, will be challenging.
Crypto Congress
- Congress will be highly active in crypto, but passing legislation will be tough.
- FTX's collapse increased the need for baseline crypto knowledge among elected officials.
FTX Donations and Congressional Influence
- 196 members of Congress, one in three, received donations from FTX executives.
- Laura Shin questions if this influenced their stance on crypto regulation.