• Recent enforcement actions have caused many to believe that the SEC is determined to hinder the US crypto industry.
• Jeff Zelkowitz, Executive Vice President at APCO Worldwide, believes there is appetite and willingness among U.S. lawmakers to make progress in the cryptocurrency regulatory space.
• The lack of a unified framework has led to oversight by various state and federal financial regulators with existing legislation, creating an overlap between different regulators.

US Crypto Regulation on Track Despite Recent SEC Enforcement Actions

Appetite and Willingness Among Lawmakers To Make Progress

Recent enforcement actions against Kraken and Paxos have caused many to believe that the SEC is determined to hinder the US crypto industry. However, Jeff Zelkowitz, Executive Vice President at APCO Worldwide, believes there is appetite and willingness among U.S. lawmakers to make progress in this space.

Lack of Unified Framework Creates Regulatory Overlap

The lack of a unified framework has led to oversight by various state and federal financial regulators with existing legislation, creating an overlap between different regulators. This method cannot appropriately capture all the nuances of cryptocurrencies or tackle bad actors effectively which has been highlighted as a key criticism of US crypto regulation approach.

White House’s Executive Order & Senators Gillibrand & Moran’s Stablecoin Act

In order to rectify this issue, recent efforts made include White House’s Executive Order as well as Senators Gillibrand & Moran’s Stablecoin Act which aims to bring clarity and consistency in regards to digital asset regulations across all states in United States.

CoinMarketCap 2023 Crypto Playbook Overview

CoinMarketCap’s 2023 Crypto Playbook overviewed what may lie ahead for various sectors such as DeFi (decentralized finance) and user adoption according to leading figures in the space while also providing insight into US regulatory outlook from Jeff Zelkowitz himself.

Conclusion

U.S cryptocurrency regulation still has a long road ahead but it appears that congressional members are making concerted efforts towards achieving a balanced solution between reinforcing American leadership in global financial system while also tackling bad actors operating within this space effectively