US Congressman Says Congress Is Reluctant To Pass Crypto Legislation

US Congressman Jim Himes said that Congress is not ready to pass cryptocurrency legislation anytime soon, citing the lack of in-depth understanding of cryptocurrencies among lawmakers. Congress will not pass crypto laws soon, in an interview with Yahoo Finance on Friday, US Representative Jim Himes explained some of the ongoing debate on cryptocurrency laws in Congress. The Connecticut representative chairs the National Security, International Development and Monetary Policy subcommittee of the House Financial Services Committee. He worked for 12 years at Goldman Sachs, previously an investment bank. The crypto commentary came when the US Treasury Department issued an offer that obliged companies to report crypto transactions above $ 10,000 to the Internal Revenue Service (IRS). Himes said Congress is not ready to respond to crypto laws anytime soon. “Most of my colleagues don't have a deep understanding of cryptocurrencies, what they can do, and the dangers,” he explained, “Congress didn't spend much time on it.” Deputy said, “So, good or bad, no laws will be passed from the US Congress anytime soon. However, the number of my colleagues is increasing day by day. True, observers are concerned about other forms of government control of the digital currency in the near future, even if their assumptions about politicians come to light. “The final part of 2021 and the beginning of 2022 could be a turning point for cryptocurrencies around the world. The analyst at Deutsche Bank Marion LaBoure wrote in a recent research note that regulators have cryptocurrencies on their agenda. Related article | Powell Press Conference "Innovative Concepts, Interesting," What Does It Really Do, What Does It Problem? "

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