Fun

US Lawmaker Outlines Priorities to Regulate Crypto and Make America the Place for Blockchain Innovation

News Feed - 2023-01-28 02:01:07

US Lawmaker Outlines Priorities to Regulate Crypto and Make America the Place for Blockchain Innovation


The chairman of a newly formed digital assets committee, U.S. Congressman French Hill, has outlined some priorities to regulate the crypto sector and ensure America is the place for fintech and blockchain innovation. “We want a regulatory framework that’s transparent for developers, investors, and potential consumers,” the lawmaker emphasized. US Lawmaker Shares Priorities on Crypto Regulation


U.S. Congressman French Hill (R-AR), who was recently appointed chairman of the newly formed subcommittee on “Digital Assets, Financial Technology and Inclusion,” discussed several crypto-related priorities for his subcommittee in an interview with CNBC Thursday.


Replying to a question about whether the U.S. should have a spot bitcoin exchange-traded fund (ETF), he explained that it is an area his subcommittee wants to explore. The congressman detailed: You’ll see us look at a privacy law, a federal privacy law … you will see us consider a stablecoin bill … you will see us explore what are the ramifications for the securities market, and work with the Agriculture Committee in the House and Senate on the commodity aspect of it.


The new digital assets committee will also discuss the oversight of cryptocurrency trading and crypto exchanges, Rep. Hill continued. “All that is on the table and that’s going to be a priority for this year.”


So far, the U.S. Securities and Exchange Commission (SEC) has approved some bitcoin futures ETFs but has yet to approve a spot bitcoin ETF. ‘We Want to Make Sure America Is the Place for Innovation in Fintech and Blockchain’


The lawmaker from Arkansas stressed, “Blockchain is an important innovation area,” emphasizing: We want that technology to be done here in the United States. We want a regulatory framework that’s transparent for developers, investors, and potential consumers as people try to prove a use case. And finally, we want to make sure the people have full transparency of that.


Noting that changes can be gradual rather than completely disruptive, Rep. Hill described: “We want to make sure that America is the place for innovation in fintech and blockchain, and distributed ledger technology is part of that fintech future.”


Urging Democrats and Republicans to work together, the lawmaker opined: “This is an area that’s important for our country. We need this regulatory framework, and we need to come together to have it or we are going to have continued chaos that we saw last year with the spring of bankruptcies across the industry. That’s not helpful to the developers, to the industry, to innovation, and certainly not to investors and consumers.” Tags in this story America blockchain, America crypto, America cryptocurrency, America innovation, Congress, Congress crypto regulation, Congress cryptocurrency regulation, Congress stablecoins, Congressman French Hill, Rep. French Hill


What do you think about the statements by Congressman French Hill? Let us know in the comments section below. Kevin Helms


A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. SEC Commissioner Calls for "Consistent Legal Framework" for All Asset Classes, Including Crypto REGULATION | 5 hours ago Arizona Senator Launches Bill to Make Bitcoin Legal Tender REGULATION | 1 day ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleSEC Commissioner Calls for ‘Consistent Legal Framework’ for All Asset Classes, Including Crypto Next articleMatrixport Joins Growing List of Crypto and Blockchain Companies Letting Employees Go Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItBitcoin ATM Operator Indicted in New York Allegedly Running Illegal Business Attracting Criminals


A bitcoin ATM operator has been indicted in New York for running an illegal business "marketed towards individuals engaged in criminal activity." The district attorney in charge described: "Robert Taylor allegedly went to great lengths to keep his bitcoin kiosk ... read more.Argentinian Securities Regulator Launches Innovation Hub to Discuss Regulated Crypto Investments Privacy-Centric Monero Plans for July Hard Fork, Plans Include Ring Signature, Bulletproof Upgrade Interest in Real Estate Investments in Spain Grew 400%, With Some Using Crypto and Stocks as Payment Method Economist Predicts the Fed"s Response to Inflation Will Push Crypto Higher

News Feed

Wallet in Telegram app temporarily blocked for UK users due to restructuring
Vince Quill2 hours agoWallet in Telegram app temporarily blocked for UK users due to restructuringTelegram users in the United States are also restricted from using the Wallet in Telegram app due to financial regulations
Topps Unveils New MLB Inception NFTs — Firm’s NFT Series Now Minted on the Avalanche Blockchain
Topps Unveils New MLB Inception NFTs — Firm"s NFT Series Now Minted on the Avalanche Blockchain The American firm that manufactures chewing gum, candy, and collectibles, The Topp
SEC Issues Alert Against Initial Exchange Offerings
SEC Issues Alert Against Initial Exchange Offerings The SEC has issued an alert to investors regarding initial exchange offerings. This warning is not an official statement on re
Treasury Secretary Yellen Asks US Regulators Overseeing Crypto Assets to ‘Act Quickly’ to Regulate Stablecoins
Treasury Secretary Yellen Asks US Regulators Overseeing Crypto Assets to "Act Quickly" to Regulate Stablecoins U.S. Treasury Secretary Janet Yellen has asked the
Swiss State Secretariat Helps Blockchain Incubator Firm Set Up Base in South Africa
Swiss State Secretariat Helps Blockchain Incubator Firm Set Up Base in South Africa Switzerland’s State Secretariat for Economic Affairs (SECO) is reported
XSwap Started Yield Farming, The Highest APY Reaches 70,000%
XSwap Started Yield Farming, The Highest APY Reaches 70,000%XSwap, a main products of Xfinance ecosystem, has launched Uniswap LP token liquidity mining. This is a fair version, 100
Chance of Bitcoin price drop to $52K rises as derivatives show traders losing hope
Marcel Pechman5 hours agoChance of Bitcoin price drop to $52K rises as derivatives show traders losing hopeWorsening US macroeconomic data and some slight changes in the Bitcoin options market could be signs that BTC’s
Web3 wellness ring lets users own their health data — and wear it too
Savannah Fortis11 hours agoWeb3 wellness ring lets users own their health data — and wear it tooA Web3 competitor to the popular Oura wellness ring is making personalized health insights and AI coaching possible throug
Bitcoin Hits $76,000 All-Time High As Market Reacts To Fed’s Interest Rate Cuts
Bitcoin (BTC), the leading cryptocurrency by market capitalization, surged to a new all-time high of $76,800 buoyed by the recent US presidential electionwhich saw Donald Trump secure another term in the White House and
Solana Price Bounces Off Critical Support Level — Is $2,000 Possible?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
William Suberg54 minutes agoBitcoin traders demand ‘slow grind’ up after BTC price drops over 4%BTC price support gives in to sellers at six-week highs, but Bitcoin remains in its classic trading range.445 Total view
Biggest Movers: LINK Hovers Near Long-Term Support as ZIL Loses 10% of Its Value
Biggest Movers: LINK Hovers Near Long-Term Support as ZIL Loses 10% of Its Value ZIL was down by as much as 10% to start the week, as prices continued to fall following recent high