The US House of Representatives creates a new cryptocurrency committee
- A new subcommittee has been created that will work on cryptocurrencies and other digital assets.
- The subcommittee is ready to introduce new rules for crypto regulatory authorities.
- Republican Congressman French Hill will head the committee.
On Thursday, Congressman Patrick McHenry revealed that the US House of Representatives has created a new congressional subcommittee that will work around cryptocurrencies and other digital assets. The committee will help more Americans gain access to new financial products while also addressing the security of the country's financial system.
According to the press release, the Subcommittee on Digital Assets, Financial Technology and Inclusion will present new rules for regulatory authorities and will cover topics including digital currencies.
The subcommittee will also create policies to further encourage digital financial technology and strengthen diversity and inclusion in the digital asset industry.
The subcommittee will be headed by Republican Congressman French Hill, who has served on this committee in the past. Hill also previously managed task forces on financial technology and artificial intelligence.
I am delighted that at the 118th Congress I will be playing the pioneering role of Chair of the @FinancialCmte Subcommittee on Digital Assets, Financial Technology and Inclusion, and as Vice Chair of FSC. My full statement below: https://t.co/Tz4S8obetR
โ French Hill (@RepFrenchHill) January 12, 2023
In his statement, Hill noted:
At a time of great technological advances and changes in the financial sector, it is our job to work in every hallway and promote responsible innovation while encouraging FinTech innovation to flourish safely and effectively in the United States.
Please note that this subcommittee will be the first of its kind in the United States to operate under the House Financial Services Committee and will focus particularly on digital assets. The decision to form a new subcommittee came after the controversial crash of crypto exchange FTX; as a result, the House Financial Services Committee ordered an investigation of the FTX case.
The US House of Representatives publication to create a new Cryptocurrency Committee appeared first on Coin Edition.
