In a Newsweek survey conducted earlier on Monday from various states in the country, more than 42% of Texans will want the state to enact crypto-friendly regulations. According to the poll, the Texans advocating for the regulation of the crypto industry discussed the possibility of legalizing crypto. This poll comes when U.S. officials are debating the risks of the crypto space, its benefits, and how to control the volatile industry.
The survey revealed that 42% of Texans clamored for the enactment of flexible cryptocurrency laws to cope with the expanding eco-space. Other states included in the poll are Pennsylvania, California, North Carolina, Virginia, and Georgia. Some states are yet to discuss crypto regulations, although it has been reported that a few are taking some steps in that direction.
For instance, Wyoming has enacted several laws to regulate the industry and is probably the leading state for crypto regulations. In 2018 and the following year, the state passed laws intending to lay a framework for crypto operations. It’s expected that the state will introduce new legislation this year, especially with the comments of one of its senators Cynthia Lummis.
Texans want similar legislation in their state. The state isn’t backing out from using crypto, as the citizens see it as the economy’s future in terms of job creation and financial freedom. However, regulations must be put in place to protect investors. That reflected in the Newsweek survey conducted by Redfield and Wilton Strategies.
The United States Still Discusses Crypto Regulations
The poll arrives at a time the U.S. is still holding talks regarding the best way to come about crypto regulations. Officials from the U.S. Treasury, alongside others from financial institutions and the SEC have been debating the benefits and risks of cryptocurrency in various meetings held, starting from August. The latest report from the meetings is that the U.S. will release the initial framework soon.
The SEC is at the center of the discussions, with the Chair continually emphasizing the need to implement regulations for the industry and protect investors. As far as the United States is concerned, stablecoins pose some threats to the economy, and the Treasury will act on ensuring that the country isn’t affected.
In the various meetings held, the U.S. Dollar CBDC was reportedly discussed, although there’s no formal conclusion on the subject yet. Some officials stated that launching the digitized currency of the Dollar would counter stablecoins, minimizing whatever threat it poses. Still, on the poll, several respondents showed no support for the country launching its digital Dollar. With China already having its CBDC, the U.S. will likely follow suit.