US Democrats Push for Crypto Regulation and Clarity Amidst Leaked Memo and Legal Bind

A leaked memo has revealed that Democratic Party members of the US House Committee on Financial Services were instructed to support the party's position on crypto regulation during the hearings on May 10. The memo stated that the SEC should continue to lead the regulation of the US crypto market and that Republicans on the committee were undermining the SEC and not interested in protecting investors. The memo also claimed that the problem with crypto entities is their refusal to comply with existing laws, not ambiguity.