🚨 Crypto's role in the US economy just got challenged by a sitting senator — and here's why it matters for markets 👇
At a Senate Banking Committee hearing on affordability, Louisiana Senator John Kennedy dismissed Digital Chamber CEO Cody Carbone's testimony that digital assets could help solve America's economic problems. Kennedy's blunt response: "I love cryptocurrency, but I don't think that's the problem with our economy."
The hearing, titled The Affordability Agenda, saw Carbone argue that digital assets could reduce transaction costs, put competitive pressure on legacy payment systems, and lower barriers to owning assets. But most lawmakers present didn't even ask about crypto — only Indiana Senator Jim Banks engaged on the topic, pressing Carbone on stablecoin-powered foreign remittances.
Here's the twist: while Kennedy brushed off crypto's relevance, the CLARITY Act — the Senate's major digital asset market structure bill — is expected to hit the floor for a vote before the August recess. The banking committee advanced it in May, but ethics concerns and gambling industry pushback over prediction market regulation could complicate passage.
$BTC $ETH $SOL
What do you think — should Congress treat crypto as an economic priority or focus elsewhere? 👇
#Bitcoin #Crypto #DeFi #Blockchain #BitcoinNews
At a Senate Banking Committee hearing on affordability, Louisiana Senator John Kennedy dismissed Digital Chamber CEO Cody Carbone's testimony that digital assets could help solve America's economic problems. Kennedy's blunt response: "I love cryptocurrency, but I don't think that's the problem with our economy."
The hearing, titled The Affordability Agenda, saw Carbone argue that digital assets could reduce transaction costs, put competitive pressure on legacy payment systems, and lower barriers to owning assets. But most lawmakers present didn't even ask about crypto — only Indiana Senator Jim Banks engaged on the topic, pressing Carbone on stablecoin-powered foreign remittances.
Here's the twist: while Kennedy brushed off crypto's relevance, the CLARITY Act — the Senate's major digital asset market structure bill — is expected to hit the floor for a vote before the August recess. The banking committee advanced it in May, but ethics concerns and gambling industry pushback over prediction market regulation could complicate passage.
$BTC $ETH $SOL
What do you think — should Congress treat crypto as an economic priority or focus elsewhere? 👇
#Bitcoin #Crypto #DeFi #Blockchain #BitcoinNews