US Congressman French Hill aims to promote digital assets and blockchain technology in the US by creating a favorable regulatory framework.
Speaking on CNBC’s Squawk Box on January 26, the chairman of the newly formed Congressional Subcommittee on Digital Assets said he plans to advocate for a fairer regulatory regime to ensure that “America is primed for innovation in fintech and blockchain.” there is space.”
“We want to ensure that America is the place for innovation in fintech and blockchain and that distributed ledger technology is part of that fintech future,” he said in a subsequent tweet.
During his interview with CNBC, the Congressman said that bitcoin is not yet usable as a real-time payment method. However, he claimed that “we want to make sure America has room for innovation in fintech, and blockchain is part of that future.”
Hill also raised the possibility of approving a spot bitcoin ETF, saying that the new subcommittee is exploring this option. The statement comes as the Securities and Exchange Commission has been very wary of spot bitcoin ETFs, as the central bank has yet to give the green light for such a product.
When asked if he believes it is possible to make progress as long as current SEC Chairman Gary Gensler, who is known for his anti-crypto stance, does not, the congressman said that he will continue to do his bit in this area. use expertise. he said:
“So we will invite them to present to Congress what they know, what they recommend in this area, and what they are doing this past year when we had so many challenges for our investors and consumers. “
The Financial Services Subcommittee on Digital Assets, Financial Technology, and Inclusion Subcommittee was Make earlier this month with the aim of “identifying best practices and policies that continue to strengthen diversity and inclusion in the digital asset ecosystem.”
The US House Committee on Financial Services said that under Hill’s leadership, the subcommittee’s mandate will also include providing clear rules for the digital asset ecosystem and developing policies that “promote fintech to reach underserved communities.” “.
It is worth noting that crypto has some good friends within the US government. Most recently, State Senator Wendy Rogers Proposed A new bill to make bitcoin legal tender in the state of Arizona and allow state agencies to accept payments in the coin.
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