All of the FTX co-founders supporters seem to have evaporated in the wake of his firm's bankruptcy.
The proposal would exempt the firms from being considered crypto “brokers.”
A more aggressive approach by the SEC could be problematic for the crypto community.
The drumbeat in Washington for U.S. regulators to do more to oversee crypto has grown louder.
The chances of passage are considered slim ahead of November's midterm elections.
Political donations from the sector surged to more than $26 million during 2021.
Cynthia Lummis, a Wyoming Republican, and Kirsten Gillibrand, a New York Democrat, are proposing crypto regulations.
The SEC is beefing up its enforcement efforts in the digital assets space.
Technology could potentially enable trading in any asset class without exchanges, banks or other intermediaries.
Sports teams have been embracing the digital asset craze, including issuing “fan tokens.”