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 cryptocurrency 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 bitcoin (BTC) and other cryptocurrencies 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, cryptocurrencies and blockchain 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 Blockchain Caucus and changes at the US Securities Exchange Commission (SEC). According to Hodge, these developments will encourage cryptocurrency companies “to continue to drive innovations in ‘fintech’ around the world.”
‘The SEC Must Open Its Doors to Innovation’
At the SEC, key officials are moving towards improving the treatment of crypto technologies. For some time, Commissioner Hester Peirce has been to open the SEC 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 cryptocurrency industry.
As the 2020 U.S. presidential election approaches, crypto enthusiasts are eager to spot bitcoin-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 cryptocurrencies. Andrew Yang is a presidential candidate and proponent of a universal basic income. He recently that he accepts donations in bitcoin, Ethereum, and any other cryptocurrency 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.
The post appeared first on .
is author of this content, TheBitcoinNews.com is is not responsible for the content of external sites.
source:
TheBitcoinNews.com is here for you 24/7 to keep you informed on everything crypto. Like what we do? Tip us some Satoshi with the exciting new Lightning Network Tippin.me tool!
Published at Sat, 09 Mar 2019 20:00:22 +0000
