U.S. Senator Ron Wyden: Cryptocurrency legislation will maintain momentum and support stablecoin and blockchain technology innovation

Odaily Odaily reported that U.S. Oregon Senator Ron Wyden said at the 2024 Consensus Conference that although cryptocurrency legislation will not advance quickly, the momentum will continue in Washington next year. Recently, the 21st Century Financial Innovation and Technology Act (FIT21) promoted by Congressman Patrick McHenry passed the House of Representatives and received partial support from the Democratic Party. It is currently under consideration by the Senate. Wyden believes that although it is unclear how far the bill will go, its establishment is crucial to combating fraud. As chairman of the Senate Finance Committee, Wyden is one of 11 Democrats who have worked with Republicans to try to overturn the U.S. SEC's cryptocurrency accounting policy (SAB 121). Wyden emphasized that unique barriers should not be set up for cryptocurrency custody, and expressed support for stablecoins and blockchain technology innovations, such as creating portable medical records. He also pointed out that Congress often has difficulties with new technologies, and cryptocurrency is one of the campaign issues in this year's congressional elections, attracting more and more young and creative people. (CoinDesk)