Consensys issues open letter to future US president, urging clear crypto rules

Blockchain company Consensys has sent an open letter to the future US president, calling for clear and supportive regulations on cryptocurrencies and Web3. The letter states that regulatory rulings need to be transparent to keep the United States competitive globally while addressing consumer protection and illegal activities. It believes that uncertainty in U.S. regulation has hindered the development of blockchain technology. The company pointed out that despite the global adoption of decentralized platforms, there is a lack of a comprehensive framework. Consensys said this gap in regulatory guidance has led to inconsistent enforcement actions and hindered innovation for businesses and developers. Consensys filed a lawsuit against the U.S. Securities and Exchange Commission on September 19 this year, but it was dismissed by a federal judge in Texas, after which the company called for regulatory clarity. (Cointelegraph)