Cryptocurrency, companies to the U.S. Congress: “Hurry up and legislate, please”

The long-awaited meeting between more than 50 representatives of the cryptocurrency industry, Wall Street and venture capital companies and the Congress took place in Washington. The companies have asked for greater clarity on the regulation otherwise they will move abroad their businesses. The cryptocurrency industry has a plea for Congress: Hurry up and regulate, please.
Kate Rooney on CNBC explains that the main issue concerns the law applied by the Securities and Exchange Commission known as the “Howey Test” which comes from a 1946 U.S. Supreme Court decision. SEC Chairman Jay Clayton has made it clear that he does not intend to update this law for cryptocurrencies.
Since Bitcoin and other cryptocurrencies are not supported by governments, companies have fewer constraints on the markets where to start their projects. The fear is that at least half of the attendees in the meeting will decide to exploit foreign legislation.