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US lawmakers hold EU and UK as examples of crypto regulation in joint hearing

May 10, 2023


Some members of the United States House of Representatives’ Financial Services Committee and Agriculture Committee pointed to crypto asset frameworks being employed outside the country when discussing regulatory gaps at home.

In a May 10 joint hearing on the future of digital asset regulation, some lawmakers pointed to the European Union’s Markets in Crypto-Assets (MiCA) framework and digital asset regulation in the United Kingdom in contrast with the patchwork of requirements in the United States. Responding to questions raised by Oklahoma Representative Frank Lucas, Kraken chief legal officer Marco Santori said the U.S.-based crypto exchange had made plans to invest in the EU and was in the process of investing in the U.K., finding the U.S. regulatory environment difficult to assess.

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