George Nethercutt Jr., former Republican congressman Says US crypto sector could disappear if Congress does not intervene
In an opinion piece published by the independent political news site The Hill, Nethercutt Jr. stressed avoiding the use of Nethercutt also said that in doing so, It means the United States has completely given up the opportunity to be a global leader in this area.
He added that the result was a loss of economic and technological advantages. That doesn’t make sense considering the consensus that crypto “should stay”.
“…They should cooperate with the head of the Financial Conduct Authority appointed by Biden. To draft recommendations on how management should regulate digital assets…”
considering the latest events In particular, the relationship between Ripple and the SEC makes me think that it is time to accept that the US Are you intending to destroy crypto?
Nethercutt Jr. also said “officials” were misled in their efforts to prevent a financial meltdown as seen in 2008.
“…Cryptocurrencies are being mistaken for “toxic assets” as if this innovation was a terrible invention by Wall Street.“
The solution to this problem was to “put it hard” on his control and on his mind. This will only drive US firms to move to other crypto-friendly countries.
Nethercutt Jr. Expresses Displeasure at Leading US Crypto Company It has made every effort to work with regulators to prevent fraud and criminal activity. At the same time, it strives to promote transparency and ensure regulatory clarity. but what has been back to sue summons and slander these companies
moreover This is a problem that involves many parties. The previous Republican administration was quite hostile to the crypto sector, however, as pointed out by Nethercutt Jr., Democrats seem to have doubled down on this hostile stance.
Nethercutt Jr. also said that if the federal government were more open to the crypto market in the same way it was open to the Internet in 1997, the result would be. “A global economic revolution led by the United States”
Under Biden’s administration, the crypto industry is heading in the wrong direction. It is therefore imperative that Congress step in to protect the future of America’s innovation and its economic interests.
“…the management’s approach indicates that this status quo will continue. This is very dangerous for the future of the crypto industry in our country. Therefore, lawmakers must stand up and protect the economic interests of the next generation of American consumers and businesses…”
Without it, the crypto business in the United States would not have grown at all.
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