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US Representative Speaks Out Against "Regulation by Enforcement" in Historic Digital Assets Hearing

During a joint Subcommittee hearing on digital assets, US Representative Bryan Steil criticized the current "regulation by enforcement" approach and stated that there are no clear rules for the crypto market. He also mentioned that SEC Chairman Gary Gensler failed to provide a path forward for crypto regulation.

The hearing featured executives from Kraken exchange and the New York Stock Exchange who emphasized the need for clear crypto laws in the United States. They also highlighted the difficulties faced by their companies in terms of determining resources without a comprehensive Federal plan on the crypto market.

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