The debate took less than four minutes.
In the Florida House last month, legislators swiftly gave final approval to a bill that makes it easier to buy and sell cryptocurrency, eliminating a threat from a law intended to curb money laundering. One of the few pauses in the action came when two House members stood up to thank crypto industry “stakeholders” for teaming with state officials to write a draft of the bill.
Florida’s warm embrace of the cryptocurrency agenda is just the tip of an aggressive industry-led push to position states as crypto-friendly beachheads. Across the nation, crypto executives and lobbyists are helping to draft bills to benefit the fast-growing industry, then pushing lawmakers to adopt these made-to-order laws, before moving rapidly to profit from the legislative victories.
Who thinks given Congress’s track record on regulating the tech/social media industry, I won’t hold out hope that there will be any consumer protections at the federal level, and states have already proven themselves to be inadequate at regulating the cryptocurrency industry on terms other than what is desired by the cryptocurrency industry…
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