Head of US Policy at FTX Predicts "Openness" from US Congress in 2022

The three principles outlined by Wetjen focus on taking advantage of bipartisan tendencies of lawmakers in Washington.

By
Kyle Heise
on
January 5, 2022
Category:
Blockchain News

Three Crypto Principles for 2022

The US Head of Policy and Regulatory Strategy at FTX, Mark Wetjen, has outlined three principle catalysts he foresees as helping open US Congressional policy to cryptocurrencies in 2022.

Wetjen, former Commissioner of the Commodity Futures Trading Commission under President Obama from 2011-2015, took to Twitter on January 3 to explain an “inevitable” openness coming in 2022. The Twitter thread begins with how Wetjen feels a warming atmosphere in Washington DC. He continues to explain how crypto is home to several underlying principles that can help open the doors to more understanding to form better policy. 

Wetjen’s Three Principles for 2022:

  • A “hands on” approach to mitigate fraud and scams in the industry while keeping a balance with oversight
  • Promote crypto and economic security through easy and appropriate access to goods and services that improve peoples’ overall well-being
  • Tap into the long government tradition of boosting creativity and entrepreneurship through NFTs and the industry at large
Source: Mark Wetjen speaking in 2019

The principles outlined by the former Senate aide to Harry Reid are beginning to sound like phrases that lawmakers can take home to constituents and sell. These are concepts that can begin to formulate and materialize into legislation. What is best about Wetjen’s principles is that all three are bipartisan in nature and should not see considerable pushback. 

“These are just a few of the reasons why the dialogue in D.C is changing.  The best of crypto represents the best of what America is about: economic security, the freedom to choose how to achieve it, and creative expression -- all bipartisan ideals,” Wetjen concludes in his thread.

Ultimately, like with any new technology, the first steps lay with education. Wetjen rightly predicts that 2022 will be a massive year for crypto adoption. Considerable weight and attention will need to be spotlighted on lawmakers, but also their aides and interns––who are often aged––to help bridge the knowledge and generational gap. 

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Kyle Heise

Born and raised in the East Bay of California. He has studied and worked on three continents and lived in eight countries. Kyle resides in San Francisco. He holds bags mostly in ETH, CRO, CAKE, and BSC meme projects.

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