In the first official press conference for digital resources hosted by the United States government, the Tsar of Crypto David Sacks and the US politicians Pro-Crypto committed themselves to giving priority to Bitcoin and digital resources during the Trump administration.
In his opening observations, Sacks shared that “the president declared in his executive order in the first week which is the policy of his administration to support responsible growth and use of digital resources, blockchain technology and related technologies in all Economic sectors. “
He also reminded the public that in that executive order, the President established both a working group for digital resources and a mandate for the group.
“Our goal is to carry out the task that the President has assigned for us in his EO, which is to propose a federal regulatory framework that regulates the issue and functioning of digital activities, including Stablecoin, in the United States” , said Sacks.
“Golden Age” for the Bitcoin and Crypto industry
Sacks also contextualized the meaning of this new administration which is not an antagonist for the Bitcoin and cryptocurrency industry, in particular in the light of what emerged under the Biden administration.
“I spoke with many founders in recent years and they told me repeatedly that the number one they need from Washington is regulatory clarity,” he said.
“They just want to know what are the rules of the road so that they can respect them. We are frankly leaving for four years of arbitrary judicial proceedings and persecution of the cryptocurrency companies in which the century would not have told the founders who were the rules and then they would pursue them. Many founders even told me stories of being personally overflowing only because they had founded a cryptocurrency company, “he added.
Before concluding his opening observations, Sacks noticed that he can’t wait to work with politicians who host the conference by his side: Senator Tim Scott (R-Sc), deputy French Hill (R-AR) , Senator John Boozman (R-AR) and Congress (R-P) -Nel “Create a gold era for digital resources”.
Senator Scott started stating that this “golden age has begun” and that “the good news is that it will improve”.
He also noticed that he intends to “work synergistically with the room and the Senate, with the White House that opened the road” when it comes to passing the bills on digital activities.
The United States at the forefront of Bitcoin and Crypto Innovation
The Hill representative stressed that the United States should be opening the road, did not remain behind when it comes to the digital activities industry.
“We don’t want to be back in financial technology and digital resources in the United States, [and] Our innovators need clarity, “said Rep. Hill.” They must know what the road rules are. “
He also declared that he had formed a working group between the Camera Financial Services Committee, the Senate Banking Committee, the Camera Agriculture Committee and the Senate Agriculture Committee to process a clear regulatory framework.
Senator Boozman stressed that not all cryptocurrency resources are the same (without necessarily identifying Bitcoin).
“Some activities are goods, some are the titles,” said Senator Boozman, who observed that several regulatory agencies should consequently supervise various cryptocurrency activities.
The Thompson representative accompanied the public through the internet phases, underlining the fact that the Internet today became “Internet of Value”.
“America was really the leader when it was the Internet 1.0 e [with] Internet 2.0, once again, was America who guided him for the world, “said representative Thompson.” Internet 3.0 is what we are talking about today, and this is the Internet of Value – and we are approaching in a way of principle. “
This “way of principle” includes consumer protection while offering innovators in the bitcoin and cryptographic space space to encourage innovation, according to the Thompson representative.
“The opportunities [in crypto] they are unimaginable, “said the representative Thompson.” I know that [David Sacks] Laser is focused on bringing certainty to digital resources markets. “
During a session of questions and answers, Senator Scott observed that bipartisan efforts were made around the Senate crypt.
“Cynthia Lummis (R-Wy) and Kirsten Gillibrand are joining for the account of the market structure,” he said.
Comments on the regulation of anti -money laundering
When he was asked to reconsider anti -money laundering laws (AML) as regards cryptocurrency, Senator Scott said he is open to it.
“I think the largest conversation should not only concern digital resources,” Senator Scott said. “These are bad actors who do bad things with every necessary means.”
Rep. Hill has questioned the AML regulations, stating that they should exist, just as they do in the analog financial space.
Educational efforts
Representative Thompson raised the importance of educating those who are in the Chamber and Senate on cryptographic assets, since it is still a relatively new topic.
“Education for members is what our first goal is here,” he said.
Rep. Hill echoed to his feeling.
“A key element is now the education and technical assistance that can be provided to members both in the Chamber and in the Senate,” he said.
Sacks also offered his thoughts on this topic.
“Part of what we are here to do is to provide resources on education,” he said, adding that some educators can be “luminaries in the sector”.
While Sacks spoke on this topic, he also differed between Bitcoin and all the other cryptocurrency resources and networks.
“Crypto can be an esoteric subject and it is good to explain it to demystify it,” said Sacks. “You have the cryptocurrency itself as bitcoin, [and then other assets that] Perform the blockchains, which are only distributed registers. “
The strategic Bitcoin reserve
Before the conclusion of the conference, Sacks also faced the prospect that the United States create a strategic bitcoin reserve.
“One of the things that the president ordered us to do was to evaluate the idea for a bitcoin reserve,” said Sacks. “So, this is one of the first things that we will see as part of the internal working group in the administration.”