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​​Federal Preemption of State Money-Transmitter Licensing Would Be Great Policy

The option of “one-stop shopping” at the highly competent CFTC, as proposed by Thompson, represents an act of statecraft. It is heartening to see a convergence between smart Republicans, like Thompson, and Democrats, like President Biden, who in his executive order on the responsible development of digital assets called for consumer protection and appropriate risk mitigation, stating the following: