By Sam Sutton. August 15, 2022. (Politico)
The crypto industry can prod Washington regulators for tailored rules and regulations all it wants. It won’t be on terra firma until there’s a digital asset law on the books.
That’s the lesson crypto and Web3 lobbyists should be taking from a Supreme Court ruling that stripped the Environmental Protection Agency’s ability to regulate greenhouse gas-spewing power plants under the 52-year-old Clean Air Act, says Tomicah Tillemann, a former State Department official who’s the chief policy officer at Haun Ventures.
The June 30 decision has been interpreted as a rebuke to federal agencies that have developed new rules for industry without getting an explicit green light from Congress. With the SEC seeking to regulate the crypto exchanges and Web3 startups through wide-reaching securities laws, Tillemann — whose firm is a major investor in digital asset businesses — is contending that the crypto lobby needs to direct its efforts toward securing the passage of digital asset legislation.