Crypto market unsure as Maxine Waters nominates Kristin Johnson for key Treasury position
Crypto market unsure as Maxine Waters nominates Kristin Johnson for key Treasury position Crypto market unsure as Maxine Waters nominates Kristin Johnson for key Treasury position
CFTC Kristin Johnson has persistently urged players within the crypto sector to comprise regulatory compliance.
Cloak art/illustration via CryptoSlate. Image entails blended stutter material that will consist of AI-generated stutter material.
Rep. Maxine Waters, a ranking member within the US Dwelling Committee on Financial Products and services, has proposed the nomination of Ms. Kristin Johnson, a present Commissioner of the US Commodity Futures Trading Commission (CFTC), for the position of Assistant Secretary for Financial Institutions on the US Division of Treasury.
In a Could well perchance merely 2 letter addressed to President Joe Biden, Rep. Waters cited Johnson’s intensive expertise in financial regulations and her dedication to upholding the integrity of financial markets for the duration of her tenure as a CFTC Commissioner.
In step with Waters:
“In her position as a CFTC Commissioner, Commissioner Johnson has prioritized asserting the integrity of our financial markets. She has pushed the Commission to undertake rigorous capital, collateral, and margin requirements
Moreover, Waters highlighted Johnson’s advocacy for investor protection and her efforts to attend folks that undermine client protection licensed pointers accountable. The lawmaker renowned that Johnson’s management in regulating Artificial Intelligence (AI) for the duration of the CFTC extra demonstrates her dedication to staying abreast of rising financial technologies.
She added:
“Commissioner Johnson equipped the Committee with crucial insights on a mammoth choice of matters, esteem accumulate entry to to credit, credit underwriting, beautiful lending, AI, digital resources, records privacy, cybersecurity, and financial stability, as well to appropriate regulations of banks and fintechs.”
Bag for crypto?
Waters’ nomination of Johnson has drawn quite a lot of reactions from the crypto community.
Some, esteem Consensys Attorney Bill Hughes, see Johnson’s doubtless appointment as a extensive boon for the crypto industry, citing her start-mindedness and productiveness on blockchain matters.
Over the final year, Johnson has made quite a lot of interventions for the duration of the crypto industry and has persistently advocated for a regulations-first system for the rising industry.
Nonetheless, others for the duration of the community rating expressed reservations, suggesting that Johnson’s nomination would possibly perchance now not necessarily translate into inform advantages for the crypto industry, citing the instance of SEC’s chair Gary Gensler.
Before assuming position of job in 2021, Gensler’s nomination became once met with optimism from many within the neighborhood as they anticipated a regulatory atmosphere favorable to the rising industry.
Nonetheless, the Gensler-led SEC has brought quite a lot of enforcement actions in opposition to leading crypto corporations esteem Coinbase and Binance and has persistently maintained that the industry operates outdoors of compliance.
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's doubtless. He imparts insights on a lot of matters esteem DeFi, hacks, mining and tradition, underlining transformative strength.
Liam 'Akiba' Wright
Moreover known as "Akiba," Liam is a reporter, editor and podcast producer at CryptoSlate. He believes that decentralized technology has the aptitude to construct current clear alternate.
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Consensys
Consensys is a endeavor manufacturing studio and custom instrument pattern consultancy building decentralized gains (DApps), endeavor alternatives and developer instruments for blockchain ecosystems, focused totally on Ethereum..
Maxine Waters is an American politician who has served as the US Manual for California’s 43rd congressional district since 1991.
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