Crypto Market Updates for June 2022 Part 1

There is a lot of crypto news today, with IT gurus contacting legislators on behalf of the sector.

Blockchain technology and crypto-friendly regulations are now being slammed by these industry movers and shakers who previously supported digital money. But who are these "experts," and why are they so hostile to digital assets?

Legislative interest in cryptocurrency has grown dramatically over the last year. More than a few lawmakers have met to discuss the industry's environmental effect and on-chain criminal behavior, among other topics.

This year's legislative sessions lay the groundwork for a comprehensive infrastructure plan.

In the previous year, we have seen several prominent members of Congress who have had strong opinions on cryptocurrencies.

Senator Elizabeth Warren is just one of several lawmakers who have voiced their displeasure with the assets.

On the other hand, Senators Pat Toomey and Ron Wyden seem to be bulls in a china shop.

Oddly enough, neither side of the aisle is speaking out exclusively in favor of or against this particular business.

There has also been a rise in crypto lobbyists due to the growing buzz.

For example, the Blockchain Association has become one of the biggest crypto-focused lobbyists after Congress implemented its tax reporting measures last year.

Sam Bankman-Fried, the CEO of FTX, has directly donated to the campaigns of pro-crypto politicians.

During the 2024 race, he is expected to spend more than $1 billion on campaign money.

References (Example)

[1] <name>, '<title>' (online, <year>) <link>.
[2] BULB, 'Write to Earn. Read to Earn' (online, 2022) <https://www.bulbapp.io/>