US Treasury Department to hold private roundtables with key crypto industry players

The US Department of the Treasury is set to hold a series of private roundtables with key players in the crypto industry to discuss critical topics that will shape the future of crypto in the US.

These talks, which are scheduled to begin this month, will focus on critical areas such as stablecoins, DeFi, banking relationships, and cybersecurity.

The stablecoins session, scheduled for May 15, will be particularly interesting as it will involve discussing how to prevent sanctions evasion, methods for secondary market monitoring, freezing capabilities, and compliance risks.

However, some members of Congress are already expressing concern over the Biden administration’s crypto policy.

Dems, who are the biggest crypto critics, are confused by the administration’s stance on crypto.

Rep. Maxine Waters, the ranking Democrat on the House Financial Services Committee, spoke out against the crypto policy, and some Dems from the committee left and joined Waters for a separate “shadow hearing” on “Trump’s crypto corruption.”

Other party members stayed in the room to take part in the meeting with Treasury officials on Thursday to discuss the Biden administration’s crypto strategy.

Unlike GOP leadership, which has fully supported Trump on crypto regulation, Dems have different ideas about how to regulate crypto.

Major US event of the week set to influence stock and crypto markets

Also, keep an eye on the April Consumer Price Index (CPI) figures, which will be released on Tuesday.

As the main event this week, investors will be closely examining the reported and core CPI to determine if they indicate a decline in inflation.

If the CPI number is lower than expected, it could reawaken hopes for interest rate cuts as early as September, especially considering recent signs of slowing growth and job market indicators. Conversely, if the figures exceed expectations, it could provide support for the Fed to keep rates higher for longer.

This information will likely have a direct impact on the yields on US Treasury bonds, the value of the dollar, and investors’ willingness to invest in stocks.

Additionally, lower inflation would create a more favorable broader setting for crypto markets, potentially leading to increased investment in the industry.

SEC’s roundtable on tokenization

Moreover, today, the US Securities and Exchange Commission (SEC) will hold a private roundtable on asset tokenization, a crucial area that needs to be addressed by regulators and key opinion leaders (KOLs).

This initiative is focused on traditional finance (TradFi) blockchain-based settlement systems and tokenized securities.

Despite the closed-door nature of the meeting, any leaks or subsequent comments could significantly influence investor reactions, particularly regarding the clarity of regulations for Real-World Assets (RWAs) and DeFi protocols.

Crypto users will be particularly interested in seeing if there are any signs of the SEC shifting its stance or preparing to introduce new regulations, which could alter the настроения towards both tokenization initiatives and major US crypto assets.