{"id":16469,"date":"2023-01-15T04:13:54","date_gmt":"2023-01-15T04:13:54","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/us-lawmakers-create-congress-first-ever-digital-assets-subcommittee-regulation-bitcoin-news\/"},"modified":"2023-01-15T04:13:54","modified_gmt":"2023-01-15T04:13:54","slug":"us-lawmakers-create-congress-first-ever-digital-assets-subcommittee-regulation-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/us-lawmakers-create-congress-first-ever-digital-assets-subcommittee-regulation-bitcoin-news\/","title":{"rendered":"US Lawmakers Create ‘Congress’ First Ever’ Digital Assets Subcommittee \u2013 Regulation Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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U.S. Congress\u2019 \u201cfirst ever\u201d subcommittee on digital assets has been created as part of the House Financial Services Committee. \u201cWe want to create a regulatory legal framework for digital assets \u2026 that makes America a leader from an innovation point of view but also protects consumers and investors,\u201d explained Congressman French Hill, who will lead the digital asset subcommittee.<\/strong><\/p>\n

US Lawmakers Form \u2018Congress\u2019 First Ever Digital Assets Subcommittee\u2019<\/h2>\n

The U.S. House Committee on Financial Services has created a subcommittee on \u201cDigital Assets, Financial Technology and Inclusion.\u201d Congressman Patrick McHenry (R-NC), chairman of the House Financial Services Committee, commented:<\/p>\n

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I\u2019m proud to announce Congressman French Hill as the chairman of Congress\u2019 first ever Digital Assets Subcommittee and vice chair of the full Committee.<\/p>\n<\/blockquote>\n

The tasks of the new subcommittee include \u201cProviding clear rules of the road among federal regulators for the digital asset ecosystem, developing policies that promote financial technology to reach underserved communities, [and] identifying best practices and policies that continue to strengthen diversity and inclusion in the digital asset ecosystem,\u201d the House Financial Services Committee explained.<\/p>\n

McHenry believes that Congressman Hill (R-AR), a former community banker and U.S. Treasury official, has the necessary experience and expertise to tackle this undertaking. \u201cThere is no one I trust more with one of my top priorities,\u201d he emphasized.<\/p>\n

\u201cI look forward to working with him to provide clear rules of the road for this ecosystem that protect consumers, while allowing innovation to thrive here in the U.S.,\u201d McHenry added, noting:<\/p>\n

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Fintech \u2014 particularly digital assets \u2014 holds immense promise as a tool to build a more inclusive financial system.<\/p>\n<\/blockquote>\n

\u201cDigital assets are something that need oversight and need consumer protection and need the right framework,\u201d Hill detailed on CNBC in reply to a question about whether cryptocurrency should be legal in the U.S. or whether it is a Ponzi scheme.<\/p>\n

\u201cWe want innovation for fintech and the use of blockchain to be available in the United States,\u201d he continued, elaborating:<\/p>\n

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We want to have the U.S. to be a leader so we want to create a regulatory legal framework for digital assets, including digital payments, that makes America a leader from an innovation point of view but also protects consumers and investors.<\/p>\n<\/blockquote>\n

In a statement issued Thursday, Hill said: \u201cI am delighted that in the 118th Congress, I will serve in the pioneering role of the chairman of the Subcommittee on Digital Assets, Financial Technology and Inclusion of the House Financial Services Committee.\u201d<\/p>\n

What do you think about the U.S. Congress setting up a subcommittee dedicated to digital assets? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA 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.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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