French Hill, chair of the subcommittee of the newly formed US digital assets congress, has pledged progressive crypto regulations to ensure the US is the place for innovation in fintech and blockchain.
Participating in CNBC’s Squawk Box, Hill crypto- presented his perspective on the regulations.
frenchhillThe subcommittee of the Digital Assets congress, chaired by , came together to identify best practices and policies that continue to strengthen diversity and inclusion in the digital asset ecosystem.
During the CNBC interview, Hill said that Bitcoin (BTC), not yet fully ready for a real-time payment industry. However, Hill emphasized that they want to make sure that America is the place for innovation in fintech and that blockchain is a part of this future.
Cryptocurrency Hill, who gave the message that no innovations will be brought to the country regarding the units, fintech and blockchain on the other hand, it gave a signal that new developments are at the door in technology.
We 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.
This morning, I joined @SquawkCNBC to discuss crypto and Financial Technology.
My interview, below:https://t.co/TDztq1muhX
— French Hill (@RepFrenchHill) January 26, 2023
To Hill in the interview bitcoin The possibility of an exchange-traded fund (ETF) was also asked. In response, the MP noted that the subcommittee has a plan to explore the potential of Bitcoin ETFs.
Bitcoin ETFs hit the SEC wall in time
in the USA crypto- The Securities and Exchange Commission (SEC), which is famous for its negative approach to the industry, came up with many bans and sanctions last year that would intimidate industry leaders. However, the SEC has repeatedly rejected spot Bitcoin applications from Grayscale, the world’s largest crypto asset manager.
However, besides the subcommittee, blockchain and fintech, crypto- It is thought that he will have many more works related to the industry. Hill noted that other areas the committee will be working on will be the commodities aspect of the crypto industry, the stablecoin bill and the implications of the securities market.
In addition, the chairman of the committee, cryptocurrency He underlined that trades and exchanges should be managed properly, but did not give details as to which organization would take over.
Emphasizing that all these issues have been discussed, Hill said that all of them will be dealt with as a priority this year.
From French Hill to SEC Chairman Gary Gensler
French Hill also states that the SEC’s crypto assets and blockchain He underlined that technology is a big obstacle in front of him. Hill, SEC Chairman Gary GenslerHe argued that as long as .
Claiming that Gensler was an expert in the field last year, Hill believes he is trying to formally regulate the crypto space through investors.
“This is why we will invite his cat to the convention and ask him to share his expertise and all his knowledge with us.”