The voices of a growing number of influential politicians and innovators are more loudly proclaiming the importance of preserving the United States’ supposed lead in the industry.
‘The US Cannot Afford to Lose Its Place as the Front-Runner in Crypto’
The importance of maintaining world technological supremacy is gaining momentum. In the United States, defenders of innovation and job creation are pushing for giving () and other some breathing space.
In this regard, Thomas W. Hodge, Senior Associate Attorney at Brock & Scott PLLC and founder of , argues that the US has always nurtured the growth of new technologies entering the market. “We foster its growth rather than stifle it with burdensome regulations,” he said, adding:
Today there are many new technologies on the horizon: artificial intelligence, autonomous vehicles and perhaps most importantly, and technology, which will change the way we conduct our lives — from banking to voting […] Simply put, the United States cannot afford to lose its place as the front-runner in crypto.
To this end, Hodge joins the congressman for Minnesota, Tom Emmer, in asking to not stifle free market competition and have government regulatory bodies to provide transparency on their regulatory intentions.
America’s technology companies are important job creators that lead the country in innovation. Stifling free-market competition is the wrong approach to growing our economy. Don’t let
— Tom Emmer (@RepTomEmmer)
Hodge hopes for renewed leadership in the Congressional Caucus and changes at the US Securities Exchange Commission (). According to Hodge, these developments will encourage companies “to continue to drive innovations in ‘’ around the world.”
‘The SEC Must Open Its Doors to Innovation’
At the , key officials are moving towards improving the treatment of crypto technologies. For some time, Commissioner Hester Peirce has been to open the to innovation and free enterprise. She complains:
[W]e regulate an industry that is a key gatekeeper for progress and productivity in the rest of the economy.
Specifically, Pierce calls for an innovative and improved regulatory framework that is more adaptable to the industry.
As the 2020 U.S. presidential election approaches, crypto enthusiasts are eager to spot -friendly candidates and to know how their policies will foster innovation and entrepreneurship.
Already, one candidate has declared he will be accepting campaign donations in . Andrew Yang is a presidential candidate and proponent of a universal basic income. He recently that he accepts donations in , , and any other complying with the ERC20 standard, as well as Venmo payments.
Do you think the US government should foster the growth of the crypto industry to maintain technological supremacy? Don’t hesitate to let us know in the comments below!
Images courtesy of Twitter/@RepTomEmmer, Shutterstock.
Published at Sat, 09 Mar 2019 20:12:22 +0000
