U.S. Lawmakers and Blockchain Innovators Discuss Future of Crypto Policies and National Security

The Blockchain Association hosted its third annual Policy Summit in Washington, D.C., on December 16-17, 2024. The event brought together key U.S. lawmakers, industry stakeholders, and representatives from the decentralized infrastructure sector to discuss aligning blockchain innovation with regulatory clarity and national security priorities.

U.S. Policymakers Attend the Event

Policymakers, including House Majority Whip Tom Emmer, Congressman Mike Flood, and Congressman Wiley Nickel, attended the summit to address challenges and opportunities in regulating digital assets. Discussions revolved around stablecoin regulation, securities laws, and the Securities and Exchange Commission’s approach to digital asset oversight.

The response from the Members of Congress, the Administration, and the regulatory agencies has grown tremendously, said Dave Grimaldi, Executive Vice President, Head of Government Relations at Blockchain Association. That speaks to a complete 180 degree turn that this industry has gone through in the perception of crypto and blockchain technology.

Call for State and Federal Cooperation

Mike Flood highlighted the need for state and federal cooperation to avoid overregulation, expressing optimism about future collaborations between the SEC and the Commodity Futures Trading Commission. In a video address, President-elect Donald Trump commended the summit, reaffirming his administration’s commitment to supporting blockchain innovation while addressing national security concerns.

Blockchain’s Role in National Security and Calls for Regulatory Clarity

A major focus of the event was the role of decentralized physical infrastructure networks in enhancing national security. Representatives from blockchain projects like CESS, Filecoin, and Helium discussed how decentralized data solutions can address vulnerabilities in centralized systems, particularly in safeguarding sensitive information and user privacy.

Key takeaways from the summit include:

  • The need for regulatory clarity to support blockchain innovation and national security.
  • The importance of state and federal cooperation to avoid overregulation.
  • The potential of decentralized data solutions to address vulnerabilities in centralized systems.

Industry Representatives Urge Regulators to Adopt Practical Policies

Concerns were raised about the SEC’s expanded Dealer Rule and its potential to stifle innovation. Industry representatives urged regulators to adopt practical policies that support the growth of the crypto and blockchain industry.

There’s a lot of collaboration between the government and the private sector to get blockchain technology adopted quicker than we could even imagine, said Joseph Li, Co-Founder, CESS. Just recently we went on Capitol Hill to educate US representatives and senators about our technology.

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