US lawmakers discuss potential obstacles to crypto regulation and call for bipartisan cooperation

Odaily News At a special hearing on digital assets before the U.S. House Financial Services Committee on Tuesday, lawmakers pointed out potential obstacles in trying to regulate cryptocurrencies while also calling for bipartisan cooperation.
“Crypto shifts economic power from centralized institutions back to the people,” said Rep. Tom Emmer (R-Vt.) at the hearing. “The wrong leadership, our past administration, was afraid of that shift. They did everything they could to stifle it.”
Meanwhile, some Democrats expressed dissatisfaction with Trump's launch of Meme Coin on the eve of the presidential inauguration last month. Rep. Sean Casten called it unstable and had no value, "It may not be worth as much as a Bible, a pair of sneakers, a steak or a bottle of water."
Some Democrats have also expressed concern about the closure of the Consumer Financial Protection Bureau (CFPB), which now appears to be in jeopardy. Last weekend, the agency's acting head, Russell Vought, reportedly instructed staff to "cease all supervisory and examination activities" and suspend enforcement actions.