Galaxy CEO supports advancing crypto legislation: It doesn't have to be perfect, "it can be fixed later"
Jinse Finance reported that Galaxy CEO Michael Novogratz stated that U.S. crypto market structure legislation does not need to be "perfect" and should be advanced as soon as possible, saying, "So what if it's not perfect? It can be fixed later," in order to allow the industry to continue developing. He pointed out that disagreements over the stablecoin reward mechanism are at the core of recent negotiation deadlocks, but he expects a compromise will eventually be reached, even if the outcome may not be the most favorable for the crypto industry. In contrast to his stance, the CEO of a certain exchange, Brian Armstrong, has publicly opposed the current draft bill, believing it would stifle multiple businesses including stablecoin rewards, and stated, "I'd rather have no bill than a bad bill." Meanwhile, Democratic staff from the U.S. Senate Agriculture Committee and Banking Committee plan to hold calls with representatives from the crypto industry to continue discussing the advancement of related legislation.
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