'Time is not on our side' to provide regulatory clarity on crypto, says US lawmaker

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New Jersey Representative Josh Gottheimer said that United States lawmakers needed to pass legislation clarifying regulators’ role over crypto or risk companies taking their business abroad.

Following a roundtable discussion on Sept. 27 with Commodity Futures Trading Commission chair Rostin Behnam and many industry leaders, Gottheimer said some of the crypto bills proposed by members of the U.S. House of Representatives and Senate were “building blocks” aimed at achieving regulatory clarity. Though saying he was “bullish” on the Digital Commodities Consumer Protection Act, Gottheimer suggested that the bill — aimed to give the CFTC greater authority over the crypto spot market — was not the only possible legislative path.

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