PANews reported on October 24 that according to Cointelegraph, blockchain company Consensys sent an open letter to the future US president, requesting clear and supportive regulations for cryptocurrencies and Web3. The letter pointed out that regulatory rulings need to be transparent to keep the United States competitive globally while addressing issues of consumer protection and illegal activities.

Consensys believes that regulatory uncertainty in the United States is hindering the development of blockchain technology. The company pointed out that despite the global adoption of decentralized platforms, there is a lack of a comprehensive framework. Consensys said that this gap in regulatory guidance has led to inconsistent enforcement actions and hindered innovation among businesses and developers.