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Crypto regulation must go through Congress for lasting change — Wiley Nickel

Crypto regulations must be enacted through an act of Congress to become permanent and meaningful pieces of legislation, according to former Congressman Wiley Nickel.

In an exclusive video interview with Cointelegraph’s Turner Wright, Nickel urged bipartisan collaboration to push through comprehensive crypto regulations. The former Congressman added:

“I think it’s really important for anybody who cares about this issue to step back and realize that if you want lasting change in Washington, you must move legislation through Congress. Otherwise, if you’re talking about executive orders, it will just go back and forth.”

“You don’t want to have the mess that we saw just months ago with Gary Gensler’s SEC — you need to get legislation through Congress,” Nickel reiterated.

President Trump’s Jan. 23 executive order establishing the Working Group on Digital Assets, which also prohibited the development of a central bank digital currency (CBDC), and the order establishing a Bitcoin strategic reserve alongside a separate crypto stockpile, were both examples of executive actions that can be reversed at a later date.

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Former Congressman Wiley Nickel is pictured sitting second from the left at the Blockworks Digital Asset Summit. Source: Cointelegraph

Related: Congress on track for stablecoin, market structure bills by August: Blockchain Association

Both chambers of Congress rush to push through meaningful legislation

Rep. Tom Emmer, the majority whip of the United States House of Representatives, reintroduced legislation banning a CBDC in the US on March 6.

Wyoming Senator Cynthia Lummis also reintroduced the Bitcoin Act in March, which builds upon an earlier bill of the same title but allows the US to purchase more than 1 million Bitcoin (BTC).

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Senator Lummis’ Bitcoin Act of 2025. Source: Senator Cynthia Lummis

Rep. Byron Donalds recently announced that he would draft legislation to codify the Bitcoin strategic reserve into law — shielding President Trump’s original executive order from being overturned by a future administration.

On March 12, the House of Representatives repealed the IRS broker rule requiring decentralized finance platforms to report information to the Internal Revenue Service in a 292-131 vote.

Speaking at this year’s Blockworks Digital Asset Summit, Democrat Rep. Ro Khanna said that Congress should be able to pass comprehensive crypto regulation in 2025, including a stablecoin bill and a market structure bill.

Magazine: SEC’s U-turn on crypto leaves key questions unanswered

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Japan’s finance minister endorses crypto as portfolio diversifier

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Japan’s finance minister endorses crypto as portfolio diversifier

Japan’s finance minister endorses crypto as portfolio diversifier

Japan’s Finance Minister Katsunobu Kato said crypto deserves a spot in portfolios, while pledging to build a sound trading environment for the sector.

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Grayscale seeks SEC approval for Spot Avalanche ETF under AVAX ticker

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Grayscale seeks SEC approval for Spot Avalanche ETF under AVAX ticker

Grayscale seeks SEC approval for Spot Avalanche ETF under AVAX ticker

The Avalanche ETF filing marks another step in Grayscale’s expanding suite of crypto investment products, following XRP and DOGE filings earlier this year.

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Starmer facing mounting pressure over immigration as MP says far right ’emboldened’

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Starmer facing mounting pressure over immigration as MP says far right 'emboldened'

Sir Keir Starmer faces mounting pressure over the small boats crisis after protests outside asylum hotels continued over the bank holiday weekend.

A poll suggested that voters believe the prime minister is failing to grip the problem, despite his government setting out measures to speed up removals.

It comes as Green Party co-leader Carla Denyer warned that “the far right feels emboldened and validated” by other political parties.

So far this year a record 28,076 people have made the perilous journey across the English Channel in small boats, 46% more than in the same period in 2024.

Like many other European countries, immigration has increasingly become a flashpoint in recent years as the UK deals with an influx of people fleeing war-torn and poorer countries seeking a better life.

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Asylum hotel protests swell in Norwich

Official figures released earlier this month showed a total of 111,084 people applied for asylum in the UK in the year to June 2025, the highest number for any 12-month period since current records began in 2001.

There were 32,059 asylum seekers in UK hotels by the end of the same month.

Protests and counterprotests at sites housing asylum seekers continued over the weekend and the government is braced for further legal fights over the use of hotels.

Police separate protesters in Liverpool
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Police separate protesters in Liverpool

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Fast-track asylum appeals process to be introduced

A YouGov poll for The Times found that 71% per cent of voters believe Sir Keir is handling the asylum hotel issue badly, including 56% of Labour supporters.

The survey of 2,153 people carried out on August 20-21 found 37% of voters viewed immigration and asylum as the most important issue facing the country, ahead of 25% who said the economy and 7% who said the health service.

Ms Denyer, who is MP for Bristol Central, condemned threats of violence in the charged atmosphere around immigration.

“The far right feels emboldened and validated by other political parties dancing to their tune.

“The abuse I’ve been sent has got noticeably worse in the last few months, escalating in some cases to violent threats, which are reported to the police.

“It doesn’t matter how much you disagree with someone, threats of violence are never, ever OK. And they won’t silence me.”

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Asylum hotels: Is the government caught in a trap?

Is it time for gunboats to help stop the people smugglers?


Jon Craig - Chief political correspondent

Jon Craig

Chief political correspondent

@joncraig

Curbing the power of judges in asylum cases to tackle the migrant hotel crisis is a typical Keir Starmer response to a problem.

The former director of public prosecutions would appear to see overhauling court procedures and the legal process as the answer to any tricky situation.

Yes, the proposed fast-track asylum appeals process is fine as far as it goes. But for a government confronted with a massive migrant crisis, opponents claim it’s mere tinkering.

And welcome and worthy as it is, it isn’t going to “smash the gangs”, stop the boats or act as a powerful deterrent to the people smugglers plying their trade in the Channel.

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