Consensys has issued an open letter to the future US president, advocating for clear and supportive regulations for cryptocurrencies and Web3. The letter, published on October 23, emphasizes the importance of transparent regulatory frameworks to enhance US competitiveness while addressing consumer protection and concerns regarding illicit activities. Citing the significant volatility in the cryptocurrency market, Consensys warns that regulatory uncertainty is hindering blockchain technology development and innovation. The firm points out the absence of a comprehensive regulatory framework in the US, which has led to inconsistent enforcement actions. This plea follows the dismissal of Consensys’ lawsuit against the SEC and comes as the 2024 presidential election approaches, making crypto policy a critical topic of discussion. Former President Trump has adopted a pro-crypto stance, promising to position the US as a global leader in cryptocurrency. However, Consensys cautions that without supportive regulatory oversight, the US risks falling behind other nations that have embraced blockchain technology.

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