The Minnesota Republican says current laws “are adequate to help weed out bad actors.”
Tom Emmer, the Minnesota Republican who has been a cryptocurrency advocate for years, says there is no need for Capitol Hill to rewrite existing laws trying to crack down on digital currencies, as coercive measures are still enough to “weed out the bad guys.” actors”.
In a Nov. 22 X post, Emmer said Binance’s $4.3 billion settlement with the US Department of Justice “shows that, when applied, current laws are adequate to help eliminate bad actors.” The politician went on to say that Congressional resources “should be spent working to generate more crypto activity and opportunities in the country to strengthen the national security of the United States.”
Democrats, meanwhile, appear to be taking a different approach. Sen. Elizabeth Warren, D-Mass., addressed of money” facilitated through cryptocurrencies.
Although politicians appear to be struggling to find common ground on the issue, Wall Street sees the deal as a positive outcome for the industry. According to JPMorgan analysts, the Binance deal stabilizes the crypto market and mitigates systemic risk.
As reported by crypto.news, the resolution is considered particularly advantageous for the operations of Binance and its BNB Smart Chain business. JPMorgan analysts emphasize that the deal brings much-needed clarity, reducing the uncertainty surrounding Binance, and is not only a relief for the exchange itself but also for the crypto market in general.
