Representatives from US financial companies and crypto startups meet with Washington lawmakers to discuss regulation

Nearly 50 representatives from U.S. financial companies and cryptocurrency startups are set to meet with Washington lawmakers on Tuesday to talk through regulatory landscape, CNBC reported September 24.

Rep. Warren Davidson, R-Ohio, is hosting a roundtable, “Legislating Certainty for Cryptocurrencies,” and asking industry experts to weigh in on how to police the new asset class ahead of a House bill he plans to introduce this fall.

Davidson outlined a list of eight questions for the meeting, including: “What is the best way to protect consumers from fraud?” The meeting will also cover private funding disclosures and token issuance laws, a spokesperson for Davidson said.

Representatives from Fidelity, State Street, leading venture capital firms Union Square Ventures and Andreessen Horowitz, the Nasdaq, and the U.S. Chamber of Commerce are among those confirmed to attend. Cryptocurrency startups Ripple, Coinbase and Circle are also planning to be in the room.

Reps. Ted Budd, R-N.C., Tom Emmer, R-Minn., French Hill, R-Ark., and Darren Soto, D-Fla., are set to give opening remarks during the roundtable Tuesday.

U.S. financial watchdogs have been balancing consumer protection and innovation in the multibillion-dollar market. Still, crypto industry leaders have complained that laws need to be updated to accommodate the complex new digital asset class. Davidson’s bill would be the first of its kind in Congress.

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