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Insider-Trading Scourge Wooed to Be Crypto Ally in U.S. Senate

May 7, 2022, 5:00 PM

Facing a crackdown from regulators in Washington, the crypto industry is turning to New York Senator Kirsten Gillibrand for help.

At first blush, the Democratic lawmaker known on Wall Street for efforts to thwart insider trading in the stock market, isn’t an obvious choice to play crypto’s savior on Capitol Hill. But since she announced in March that she was working on legislation to overhaul rules for the market, her star has risen.

Industry executives sought to woo Gillibrand during a recent trip to San Francisco as she shuttled between a meeting with them at the St. Regis Hotel and ...