Reuters, Washington, February 4 The House Financial Services Committee is chaired by Republican U.S. Representative French Hill, who announced on Tuesday that members of both houses of Congress will establish a working group to create policies that support the growth of digital assets.
Hill, along by White House crypto and artificial intelligence czar David Sacks and other congressmen, stated during a Capitol Hill news conference that new legislation will provide “clarity for a regulatory framework.”
A cryptocurrency working group consisting of department chiefs was established in January by U.S. President Donald Trump with the responsibility of recommending new rules for digital assets and investigating the establishment of a national cryptocurrency stockpile.
By pledging to be a “crypto president” and promote the usage of digital assets, Trump courted bitcoin during the campaign. Trump also owns a cryptocurrency coin.
Regulators under former President Joe Biden, however, took tough measures against the company in an attempt to protect Americans from money laundering and fraud. The administration filed litigation against Coinbase, Binance, and many other exchanges, alleging they violated U.S. laws. The companies deny the charges.
According to Sacks, Trump instructed a working committee within the executive branch to give priority to investigating a possible strategic cryptocurrency reserve.
BY : – NEXT TECH PLUS
