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Excerpt from www.politico.com
The cryptocurrency industry capped a notable month on Capitol Hill, as 71 House Democrats joined most Republicans to pass sweeping legislation aimed at establishing rules of the road for the fast-moving industry.
Backers of the legislation, which passed 279-136, included prominent senior Democrats like former Speaker Nancy Pelosi, Minority Whip Katherine Clark (D-Mass.), Democratic Caucus Vice Chair Ted Lieu (D-Calf.) and DCCC Chair Rep. Suzan DelBene (D-Wash.).
The White House opposed the measure, which critics say could put consumers and even the larger financial system at risk, but did not threaten to veto it
In a statement explaining her vote, Pelosi said that while the bill “must be improved by working with the Senate and the Administration,” the industry “needs clearer rules of the road and the federal government needs stronger enforcement authority.”
It’s a powerful show of force for the crypto industry among Capitol Hill backers from both parties in a time of fierce divisions.
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