Crypto Exchanges Pushed US Lawmakers to Bar Provision on Risky Tokens: Report
Cointelegraph
Major cryptocurrency exchanges reportedly lobbied US lawmakers to remove legislative language that could have restricted the listing of certain smaller tokens.Summary
A recent report indicates that Coinbase, Kraken, and Gemini successfully lobbied US lawmakers to strip a provision from a market structure bill that would have required exchanges to only list digital assets not susceptible to manipulation. These companies argued the language would have hindered their ability to list smaller tokens. This development highlights the growing influence of the crypto industry on legislative processes, particularly as the CLARITY Act moves through the Senate. While Coinbase officials characterized the report as old news, industry leaders and lawmakers continue to push for the bill's advancement, with some speculating it could pass before the August recess.
(Source：Cointelegraph)