Technology needs to be a national issue for the , with digital currencies and to be recognized within that goal, according to Ripples’ Director of Regulatory Relations Ryan Zagone, at the Consensus 2019 conference on May 14.
Zagone stated that technology needs to be a national security issue for the U.S. to ensure that the country is the leader and is not reliant on foreign innovators:
“There is a broad discussion in Washington around 5G being dominated by foreign firms and the U.S. being reliant on foreign technology and foreign expertise… With and crypto, I think there’s a recognition now that these will be part of our future infrastructure… It’s important both for national security and from an economic perspective, that the U.S. is a leader in that.”
Recently, legislators the Taxonomy Act, that would exclude from being classified as a security. The act also pursues the introduction of regulatory certainty for businesses and regulators in the U.S. industry, as well as clarifying conflicting state initiatives and regulatory rulings that have confused the issue.
Moreover, the announcement calls attention to the growing strength of digital asset markets and the industry both in and , and states that the Act is necessary in order to keep the U.S. competitive in the global market.
As in March, the number of lobbies working on technology issues in Washington D.C. tripled in 2018, reaching 33 projects in the fourth quarter of 2018 compared to 12 in the same period of 2017. Jerry Brito, executive director at the non-profit organization Coin Center, suggested that the growth is driven by securities .
Published at Tue, 14 May 2019 21:09:36 +0000
