In the first ever official press conference for digital assets hosted by the U.S. government, Crypto Czar David Sacks and pro-crypto U.S. politicians committed to prioritizing bitcoin and digital assets during the Trump administration.
In his opening remarks, Sacks shared that “the President said in his executive order in the first week that it’s the policy of his administration to support the responsible growth and use of digital assets, blockchain technology and related technologies across all sectors of the economy.”
He also reminded the audience that in that executive order, the President established both a working group for digital assets as well as a mandate for the group.
“Our objective is to accomplish the task the President assigned for us in his EO, which is to propose a Federal regulatory framework governing the issuance and operation of digital assets, including stablecoins, in the United States,” said Sacks.
The “Golden Age” For The Bitcoin And Crypto Industry Begins
Sacks also contextualized the significance of this new administration’s not being antagonistic to the Bitcoin and crypto industry, especially in light of what transpired under the Biden administration.
“I’ve talked to many founders over the last few years and they’ve told me repeatedly that the number one thing they need from Washington is regulatory clarity,” he said.
“They just want to know what the rules of the road are so they can abide by them. We’re coming off frankly four years of arbitrary prosecution and persecution of crypto companies where the SEC wouldn’t tell founders what the rules were and then they would prosecute them. Many founders even told me stories of being debanked personally just because they had founded a crypto company,” he added.
Before concluding his opening remarks, Sacks noted that he looks forward to working with the politicians hosting the conference alongside him — Senator Tim Scott (R-SC), Congressman French Hill (R-AR), Senator John Boozman (R-AR) and Congressman (R-PA) — in “creating a golden age for digital assets.”
Senator Scott began by stating that this “golden age has begun” and that “the good news is that it’s going to get better.”
He also noted that he plans to “work synergistically with the House and the Senate, with the White House leading the way” when it comes to passing bills on digital assets.
The U.S. At The Forefront Of Bitcoin And Crypto Innovation
Rep. Hill stressed that the United States should be leading the way, not falling behind when it comes to the digital asset industry.
“We don’t want to be behind in financial technology and digital assets in the United States, [and] our innovators need clarity,” said Rep. Hill. “They need to know what the rules of the road are.”
He also stated that he’s forming a working group between the House Financial Services Committee, the Senate Banking Committee, the House Agriculture Committee and the Senate Agriculture Committee to…
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