Over 50 crypto companies, including Coinbase and Circle, urge the U.S. government to establish clear regulatory rules.

The Crypto Market Integrity Alliance (CMIC), composed of over 50 crypto companies including Solidus Labs, Coinbase, and Circle, has sent an open letter to the White House, urging the Biden administration to establish clear rules for the digital asset industry. The alliance stated that the lack of clear regulations has led to consumer harm, stifled innovation, and caused compliant U.S. companies to lose market share. They emphasized that regions such as the EU, Japan, and the UK have already begun to establish regulatory frameworks, urging the U.S. government to collaborate with Congress this year to enact foundational regulations. (TheBlock)