{"id":17007,"date":"2023-01-28T05:48:51","date_gmt":"2023-01-28T05:48:51","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/us-lawmaker-outlines-priorities-to-regulate-crypto-and-make-america-the-place-for-blockchain-innovation-regulation-bitcoin-news\/"},"modified":"2023-01-28T05:48:51","modified_gmt":"2023-01-28T05:48:51","slug":"us-lawmaker-outlines-priorities-to-regulate-crypto-and-make-america-the-place-for-blockchain-innovation-regulation-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/us-lawmaker-outlines-priorities-to-regulate-crypto-and-make-america-the-place-for-blockchain-innovation-regulation-bitcoin-news\/","title":{"rendered":"US Lawmaker Outlines Priorities to Regulate Crypto and Make America the Place for Blockchain Innovation \u2013 Regulation Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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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. \u201cWe want a regulatory framework that\u2019s transparent for developers, investors, and potential consumers,\u201d the lawmaker emphasized.<\/strong><\/p>\n

US Lawmaker Shares Priorities on Crypto Regulation<\/h2>\n

U.S. Congressman French Hill (R-AR), who was recently appointed chairman of the newly formed<\/a> subcommittee on \u201cDigital Assets, Financial Technology and Inclusion,\u201d discussed several crypto-related priorities for his subcommittee in an interview with CNBC Thursday.<\/p>\n

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:<\/p>\n

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You\u2019ll see us look at a privacy law, a federal privacy law \u2026 you will see us consider a stablecoin bill \u2026 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.<\/p>\n<\/blockquote>\n

The new digital assets committee will also discuss the oversight of cryptocurrency trading and crypto exchanges, Rep. Hill continued. \u201cAll that is on the table and that\u2019s going to be a priority for this year.\u201d<\/p>\n

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.<\/p>\n

\u2018We Want to Make Sure America Is the Place for Innovation in Fintech and Blockchain\u2019<\/h2>\n

The lawmaker from Arkansas stressed, \u201cBlockchain is an important innovation area,\u201d emphasizing:<\/p>\n

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We want that technology to be done here in the United States. We want a regulatory framework that\u2019s 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.<\/p>\n<\/blockquote>\n

Noting that changes can be gradual rather than completely disruptive, Rep. Hill described: \u201cWe 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.\u201d<\/p>\n

Urging Democrats and Republicans to work together, the lawmaker opined: \u201cThis is an area that\u2019s 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\u2019s not helpful to the developers, to the industry, to innovation, and certainly not to investors and consumers.\u201d<\/p>\n

What do you think about the statements by Congressman French Hill? 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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