US Senator Ron Wyden discusses technology policy, blockchain, and crypto regulation at CoinDesk's Consensus 2024 conference

Senator Ron Wyden, a prominent advocate for personal privacy online and the internet, spoke at CoinDesk's Consensus 2024 conference about the challenges the Senate faces in understanding new technology. He opposed the idea of taxing software developers and supported the repeal of the SEC Staff Accounting Bulletin 121. Some participants in a recent discussion expressed concern about the lack of regulation for cryptocurrency custodial arrangements, but others suggested establishing a regulatory framework instead of creating a separate barrier. Senator Wyden emphasized the importance of transparency in public policy and protecting privacy rights. Additionally, a politician discussed the need for listening and learning in creating good policy, particularly in regards to issues such as stable coins and software developers fighting fraud, and emphasized the need to focus on economic issues and make better use of resources. In other news, Binance has been fined $2.2 million by India's Financial Intelligence Unit for allegedly offering crypto services without fully complying with anti-money laundering charges.