Best Crypto to Buy Now 7 June – Optimism, ApeCoin, Lido DAO
The U.S. House Financial Services Committee will hold a hearing on June 13 on the topic of cryptocurrencies, potentially giving more clarity to the markets.
The committee oversees matters like the Federal Reserve Board, the US Treasury, and currency.
How might this affect the cryptocurrency market and the selection of the best cryptos to buy now?
The hearing will stream live on the committee's website. Though the agenda isn't public yet, the crypto community hopes it will address major industry issues.
The crypto industry has been grappling with several urgent concerns, including regulatory compliance, investor protection, market stability, and fostering innovation.
Interestingly, Republican lawmakers Patrick McHenry and Glenn Thompson proposed legislation to regulate crypto assets and exchanges.
It suggests incorporating crypto into traditional trading and splitting oversight between the SEC and CFTC and seeks to solve regulatory problems and guide the crypto industry.
Recent SEC lawsuits against Coinbase and Binance highlighted the need for such clarity as the lack of rules distinguishing securities and commodities related to cryptocurrencies remains confusing for traders and businesses in the space.
Senator Cynthia Lummis criticized the SEC's use of enforcement for guidance, saying it hurts investors and innovation. The SEC's failure to provide guidance caused uncertainty and hindered crypto, she said.
It's hoped that the hearing and legislation could significantly stabilize markets and regulate cryptocurrencies for the better, allowing the dynamic industry to continue advancing.
While the industry awaits further guidance, WSM, OP, ECOTERRA, APE, YPRED, LDO, and SWDTKN are some of the best cryptos to buy now based on solid
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