Jinse Finance reported that the North American Securities Administrators Association (NASAA) sent a letter to two committees of the House of Representatives, telling Congress that they do not support the proposed regulatory rules for digital assets. NASAA, the entity representing all state securities regulators, has outlined its objections to the draft legislation. NASAA points to several reasons why they do not support the bill:


1. The comprehensive securities regulatory framework in the United States is applicable to all securities products;
2. NASAA strongly urges Congress to promote innovation by funding and requiring greater regulatory coordination;
3. NASAA strongly opposes laws that weaken investor protections and preempt state efforts to promote responsible capital formation.
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