- There is a need for clarification from regulators.
- Politicians say actual voters care about cryptocurrency.
- Ryan Selkis explains how vital these hurricane insurance premiums are.
According to John E Deaton, founder of Crypto-Law.us, and managing partner of the Deaton Law Group, it is a fact that regulatory clarification about US regulation would only be attained in the first quarter of 2025, with the best case scenario being the summer of 2025.
We will not get regulatory clarity before the first quarter of 2025. Best case scenario is likely the summer of 2025. This is a fact – not an opinion. A well organized, adequately funded, and strategic campaign is a must. https://t.co/3ICt7ufU36— John E Deaton (@JohnEDeaton1) March 2, 2023
Notably, the phrase implies a need for clarification from regulators since there may be some ambiguity or uncertainty in the regulations that relate to this matter, according to experts in the field.
This statement also comes amid a suggestion by Messari Crypto CEO Ryan Selkis to maintain the status quo on cryptocurrency in the US until the next administration. Then, according to him, $100 million per year would be required for 2023 and 2024.
2/ $1mm each from 50 unicorns and top funds, $100k from 250 healthy US companies, $1000 from 25,000 individuals. We can make it work.These are our hurricane insurance premiums, and they are critical.— Ryan Selkis (@twobitidiot) March 2, 2023
Selkis claims it can be successful with $1 million from each of the 50 unicorns and top funds, $100 thousand from 250 robust American enterprises, and $1 thousand from 25,000 people. Finally, he labels these the community’s “hurricane insurance premiums” and emphasizes how vital they are.
Ryan asserts that at least $25 million annually in soft and hard money to influence vital congressional races and presidential candidates’ stances on cryptocurrency would be favorable. However, he believes this is a minimum starting point to exert influence and push for softer crypto positions.
However, the CCI, BA, and DeFi Education Fund budgets would double if trade association dues of $25 million were paid annually. Also, $25 million annually will help begin suing the government whenever and everywhere feasible for overreach.
On the same accord, the U.S. Securities and Exchange Commission (SEC) may ramp up its recent surge of cases targeting crypto firms by boosting the size of its digital assets enforcement squad, according to recent updates.
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