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Robinhood's chief legal officer says 'it's a stretch' to believe crypto legislation is coming any time soon

Added 12-08-21 01:14:03pm EST - “The Congressional hearing on Wednesday is important for crypto in theory, but that's if Congress plans to legislate, Dan Gallagher said.” - Markets.businessinsider.com

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Posted By TheNewsCommenter: From Markets.businessinsider.com: “Robinhood's chief legal officer says 'it's a stretch' to believe crypto legislation is coming any time soon”. Below is an excerpt from the article.

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Robinhood's chief legal officer said new legislation aimed at the cryptocurrency market isn't on likely on the horizon.

In a Wednesday interview with CNBC, Robinhood's Dan Gallagher said given the dynamic in US Congress, "it's a stretch to believe that there will be legislation coming out on crypto any time soon."

Gallagher made the comments ahead of a Congressional crypto hearing in which six executives from firms including FTX and Coinbase were to testify in front of the House Financial Services Committee to help legislators understand "the challenges and benefits" of the sector. 

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