Crypto Market Updates for June 2022 Part 2

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1 Jun 2022
9

It's hardly unexpected that powerful people are interested in crypto.

However, perhaps the most important crypto news today is technology professionals criticizing the sector on the other side of the argument.

They are urging politicians to adopt legislation that makes sense and warn them not to fall under the sway of this increasingly rich sector.

Twenty-six techies from the most prestigious schools and digital businesses globally have signed a letter requesting Congress to create reasonable rules regarding fintech. They have sent it in the form of a letter.

Notable signatories to the letter include Bruce Schneier of Harvard University, Miguel de Icaza, a former employee of Microsoft, and Molly White, who is known for her skepticism towards cryptocurrency.

The letter's contents, despite their brevity, are profoundly thought-provoking.

The experts caution congress members to maintain a healthy level of skepticism during the discussion about crypto rules.

They contend that those with economic interests in digital currencies, such as lobbyists and others, exaggerate how crypto assets are secure.

They also feel that the widespread use of blockchain technology inside the financial sector would significantly negatively impact people's privacy rights.

The letter is addressed to 12 specific politicians, most of whom are members of Congressional committees concerned with banking and finance.

This group includes the Speaker of the House, Nancy Pelosi, and the minority and ruling leaders of both the House and Senate.

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