Why does Congress need to act on digital assets – actors. French Hill and Burian Steel

Last November, the American people spoke clearly. They support President Trump and the agenda that he carried: “The Golden Age” in America. One of the main elements in President Trump’s agenda is to benefit from the leadership of the United States in advanced technology and economic strength for the benefit of all Americans.

There is no renewed focus on using our strengths for the future more necessary than it was to develop digital assets and Blockchain, as Washington was sleeping on the wheel for a very long time.

According to surveys, 55 % of American investors own BitcoinAnd more than 40 million private Type of encrypted currency. Even our largest financial institutions now adopt digital assets and transformational power of Blockchain technology. There is no doubt that these innovations will make financial products more affordable and accessible. From stablecoins to asset icon, to decentralized financing applications, these developments have the ability to reduce costs and expand opportunities for both investors and consumers.

Despite its transformational capabilities and its widespread adoption, the Biden Harris administration refused to recognize the promise of this technology. The officials were just indifferent – It was publicly hostile. Regardless of the safety or innovation, the products associated with “Crypto” or “digital assets” and vowing in the antiseptic were blocked. The organizers refused to provide meaningful guidelines on how to implement this technology in a compatible way. Worse, they have implemented new policies to make adoption more difficult.

Today is a new day. There is a wide agreement that we need an appropriate organization for purposes that open opportunities while providing consumer security protection and national security. The world depends on us to ensure that global payment systems are not used for necklace, including terrorist financing and drug trafficking. Because the Biden Harris administration has mixed responsibility over the past four years, the United States, and others, including our opponents, have developed products and systems that threaten the priority of the dollar.

Although the Biden Harris administration was reluctant, during the last council of the House of Representatives, the Republicans led the charge and approved historical legislation to create the aspirational appearance Organizational framework for digital assets. The two -party draft law provides this appropriate protection for consumers and proactively addresses national security issues and money laundering while securing the United States as a pioneer in digital assets and Blockchain innovation.

Congress will now capture the place where we stopped and work in a bilateral manner with the Trump administration and financial organizers to ensure the elimination of the open hostility of the executive branch in the past four years.

Congress has a unique opportunity for legislation to play with American strengths. We will mainly provide innovation in digital assets and Blockchain space, while at the same time strengthening the state of the US dollar as a backup currency and preferred payment method for legal transactions all over the world.

As the leaders of the digital assets in the financial services committee for the home, our immediate priorities include setting a federal framework with clear rules on stablecoins, which provides clarity for initial sale and distribution of symbols, creating paths to record the central platforms for symbol trading, implementing strong protection against money laundering and terrorist financing, and guaranteeing competition Fine.

We have already started this work by issuing a draft of our recent discussion to create a framework for the Issuing Payment and Payment of the Payment in the dollar Stablecoins in the United States.

There are those who participate in the opinion of the Biden-Harris administration that the ecosystem of digital assets is, in the words of former SEC president Gary Gensler, “Full joy, fraudsters, and fraud artists.” But this feeling only emphasizes the urgent need for these efforts. Effective legislation and pre -emptive organizational participation will ensure that good actors that have innovative products can flourish in the United States and consumers are properly protected from clouds, market manipulation, and other fraudulent activity.

We are world leaders in financing and technology because, throughout our history, we have looked forward and embraced innovation as a way to reduce costs, increase opportunities, and enhance protection. We need to be honest with our history and do it again.

Through the newly formed Bicameral working group, we will work in Lockstep with the Chairman of the Senate Banking Committee Tim Scott, Senate Speaker, John Bouzman, Chairman of the House of Representatives GT Thompson, and Crypto CZAR DAVID at the White House. The promises we made to the American people. The “Golden Age” begins the digital assets in the United States now.