U.S. Utah Representative John Curtis and Utah Senator Mike Lee discussed the future of digital asset policies at the Permissionless III event. Curtis noted that bipartisan cooperation on repealing SAB-121, which restricts crypto custody services, is fragile. Curtis emphasized that partisanship will create difficulties in Washington and emphasized the importance of finding points of connection with Democrats.

Senator Mike Lee stated that the Federal Reserve’s creation of a central bank digital currency (CBDC), excessive regulation, and conflicting regulations between states are the worst-case scenarios for crypto. Lee emphasized that cryptocurrencies are a new asset class and that excessive regulation should be avoided for innovation to flourish.

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