US Congressman French Hill has recently been appointed chair of the new Subcommittee on Digital Assets, Fintech, and Inclusion, and has outlined some of his priorities for regulating cryptocurrency and making sure America is the place for fintech innovation. “We want a regulatory framework that is transparent for developers, investors, and potential consumers,” the legislator said.
US Lawmaker Shares His Priorities On Crypto Policies
US Congressman French Hill (R-AR), recently appointed as chair of the freshly created Subcommittee “Digital Assets, Fintech, and Inclusion,” discussed a number of cryptocurrency-related initiatives for his subcommittee in an interview with CNBC on Thursday.
Asked about whether the US should have an ETF (exchange-traded fund for spot bitcoin), he said that this is an area that his subcommittee would like to explore. The congressman elaborated:
You may see us take a look into a federal privacy bill and a privacy act… You may also see us examine a stablecoin bill… It is possible that we will explore the implications for the stock market, and then work with you to address them. Agriculture Committee On the House The Senate. It is the business side.
The new digital asset commission may also have oversight of cryptocurrency buying and selling. Representative Hill continued. “All of that is on the table and it will be a priority for this year.”
The US has been more successful than any other country in this regard. The Securities And Exchange Commission has only approved a few bitcoin futures ETFs, but it is yet to give its approval for a spot Bitcoin ETF.
“We want to make sure that the United States is the place for innovation in Fintech and Blockchain”
The Arkansas Legislator emphasised: “Blockchain is an important area of innovation,” stressing:
We want to ensure that this technology is provided right here in the United States. We need to have a regulatory framework that is understandable by developers, investors and potential users. And Last but not least, people must have complete transparency about their data.
Noting Modifications will not be disruptive but gradual. Rep. Hill described: “We want to guarantee that America is the place for fintech and blockchain innovation, and distributed ledger technology is part of that fintech future.” “.
What do you think of Congressman French Hill’s comments? Please let us know in the comments section.
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