{"id":125415,"date":"2025-03-19T22:30:49","date_gmt":"2025-03-19T22:30:49","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=125415"},"modified":"2025-03-19T22:30:49","modified_gmt":"2025-03-19T22:30:49","slug":"crypto-regulation-must-go-through-congress-for-lasting-change-wiley-nickel","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=125415","title":{"rendered":"Crypto regulation must go through Congress for lasting change \u2014 Wiley Nickel"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsCrypto regulations must be enacted through an act of Congress to become permanent and meaningful pieces of legislation, according to former Congressman Wiley Nickel.<br \/>\nIn an exclusive video interview with Cointelegraph&#8217;s Turner Wright, Nickel urged bipartisan collaboration to push through comprehensive crypto regulations. The former Congressman added:<br \/>\n&#8220;I think it&#8217;s really important for anybody who cares about this issue to step back and realize that if you want lasting change in Washington, you must move legislation through Congress. Otherwise, if you&#8217;re talking about executive orders, it will just go back and forth.\u201d<br \/>\n\u201cYou don\u2019t want to have the mess that we saw just months ago with Gary Gensler\u2019s SEC \u2014 you need to get legislation through Congress,\u201d Nickel reiterated.<br \/>\nPresident Trump\u2019s Jan. 23 executive order establishing the Working Group on Digital Assets, which also prohibited the development of a central bank digital currency (CBDC), and the order establishing a Bitcoin strategic reserve alongside a separate crypto stockpile, were both examples of executive actions that can be reversed at a later date.<br \/>\nFormer Congressman Wiley Nickel is pictured sitting second from the left at the Blockworks Digital Asset Summit. Source: CointelegraphRelated: Congress on track for stablecoin, market structure bills by August: Blockchain Association<br \/>\nBoth chambers of Congress rush to push through meaningful legislation<br \/>\nRep. Tom Emmer, the majority whip of the United States House of Representatives, reintroduced legislation banning a CBDC in the US on March 6.<br \/>\nWyoming Senator Cynthia Lummis also reintroduced the Bitcoin Act in March, which builds upon an earlier bill of the same title but allows the US to purchase more than 1 million Bitcoin (BTC).<br \/>\nSenator Lummis\u2019 Bitcoin Act of 2025. Source: Senator Cynthia LummisRep. Byron Donalds recently announced that he would draft legislation to codify the Bitcoin strategic reserve into law \u2014 shielding President Trump\u2019s original executive order from being overturned by a future administration.<br \/>\nOn March 12, the House of Representatives repealed the IRS broker rule requiring decentralized finance platforms to report information to the Internal Revenue Service in a 292-131 vote.<br \/>\nSpeaking at this year\u2019s Blockworks Digital Asset Summit, Democrat Rep. Ro Khanna said that Congress should be able to pass comprehensive crypto regulation in 2025, including a stablecoin bill and a market structure bill.<br \/>\nMagazine: SEC\u2019s U-turn on crypto leaves key questions unanswered<a href=\"https:\/\/cointelegraph.com\/news\/crypto-legislation-congress-lasting-change-wiley-nickel?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsCrypto regulations must be enacted through an act of Congress to become permanent and meaningful pieces of legislation, according to former Congressman Wiley Nickel. In an exclusive video&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125415"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=125415"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125415\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125415"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125415"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125415"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}