Saturday, January 28, 2023

United States: Republican lawmakers push for crypto regulation

“At a time of great technological advancement and change in the financial sector, it is our job to work across corridors and foster responsible innovation”

after controlling Lok SabhaRepublicans are forming what they call the first of its kind congressional caucus focused on digital assets.

on the new subcommittee digital assetsFinancial technology and inclusion were announced Thursday by Congressman Patrick McHenry (R-NC), as other subcommittees were introduced to the Committee on Financial Services. camera,

McHenry said that he felt that “There’s a big difference in the way we structure the committeeThis is as it spends more resources on issues related to the digital asset sector, rather than the larger financial industry, Politico reported on Thursday.

FTX accelerates the need for regulation

Congressman will chair the subcommittee french hill, who was also named vice-chairman of the full committee. The new panel will provide “rules of thumb” for federal regulators of the digital asset ecosystem, as well as develop policies that reach out to underserved communities.

At a time of great technological advancement and change in the financial sector, it is our job to work across all corridors and foster responsible innovation while encouraging innovation. fintech Thrive safely and effectively in the United States of America, Hill wrote in a statement shared Thursday.

The creation of the panel follows through the legislative process various cryptocurrency-related laws, such as Lummis-Gillibrand Responsible Financial Innovation Actwas introduced in the Senate in June of last year, and more recently, the Trust Act stable coins,

Hill is no stranger to crypto policy initiatives. In 2021, Hill co-sponsored a bill that would require the Board of Governors of the Federal Reserve System to study the potential impact of a United States central bank digital currency (CBDC).

You may also be interested: “These are games of chance”, India’s central bank governor attacks cryptocurrencies

Nation World News Desk
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