Making America the hub for blockchain and fintech innovation is the goal of the Financial Services Subcommittee on Digital Assets’ chair.
The chair of the U.S. Congress’ newly formed subcommittee on digital assets advocated for progressive crypto regulation to ensure “America is a place for fintech and blockchain innovation.”
Congressman French Hill shared some of his first insights into domestic crypto regulation on his Squawk Box on CNBC on Jan. 26.
The Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion, chaired by Hill, announced on January 12 the task of “identifying best practices and policies that further enhance diversity and inclusion in the digital asset ecosystem.” have started. was established in
While stating that Bitcoin wasn’t nearly ready to be a real-time payments sector during the interview, Hill also stated that “we want to make sure that America remains the place for innovation in fintech and blockchain is part of that future.”
Asked about the potential of a physical Bitcoin Exchange Traded Fund (ETF), Hill commented that the new subcommittee would also like to explore that possibility.
The SEC has repeatedly rejected Bitcoin ETF physical ETF applications, including one from Grayscale, the world’s largest crypto asset manager.
The subcommittee’s other areas of focus relate to federal privacy law, stablecoin law, securities market impact, and work with the Senate on the commodity aspects of the cryptocurrency industry.
He said cryptocurrency trading and exchanges need to be “regulated,” but did not specify which authorities would.
“All of that is being considered and all of it will be a priority this year,” he said.