Crypto Czar David Sacks To Prioritize Bitcoin Reserve
Crypto Tsar David Sacks held a press conference with the Senate leaders today. He outlined the government’s priority, including Stablecoin Legislative and Bitcoin reserves.
Sax has opposed the CHOPE POINT 2.0 operation, and today specifies that unclear regulations have caused creepy effects and unsuitable anti -Crecho harassment. By more clearer and more friendly legislation, enterprises and countries will benefit.
Press conference on the encryption policy of David Sacks (David Sacks)
Since Donald Trump Appointed David Sacks as the first encryption TsarIt’s not clear What role will he play in federal policyEssence He advocates End the hard work and Re -classify NFT and certain cause coins As a collection, but there is no other thing so far.
However, today, Sax has clarified his plan In printing Meeting Together with Senator Tim Scott. According to Sacks, the primary task of the newly established digital asset work group is to evaluate the plan for Bitcoin reserves.
15 states in the United States are adopted Bitcoin as a strategic reserve assetEssence Saxha emphasized that President Trump’s primary task is to commit to the national Bitcoin reserves.
Another priority of sacks and SEC is the clarity of establishment regulations. He mentioned how the lack of clarity made several cryptocurrency companies offshore. Crypto Tsar thinks this is why this is FTX can make the biggest fraud Historically.
“The US Securities and Exchange Commission will not tell the founders what rules, and then sue them. Many founders have told me personally that they were revoked because they established a cryptocurrency.” Sax said.
In other words, he focuses on supervision clarity, which is the basic problem under the issue of revocation.
According to the FIT21 legislation, the stable currency will be relocated
According to the leaders of saxophone and other House of Representatives, Stabulcoin regulations will be the most important bill of the 119th Congress. Although it is stable The key component of global encryption transactionsus Legislative efforts are repeatedly frustratedEssence
French Hill, Chairman of the House of Representatives, claims that the new legislation will transfer Stablecoin to the FIT21 structure. This concept Facing President Biden’s serious oppositionEssence
“In the 119th conference, we have a dual -coin bill and a double -layer project with a regulatory framework, which will make the United States’ digital assets clear and clear.”
FIT21 is a US legislative framework that is used to regulate the encryption market. The bill aims to create clear rules for the encryption industry, especially to solve the gap between supervision between SEC and CFTC.
Moving in a framework similar to FIT21 will provide supervision certainty, making it easier for the Stablecoin issuer to operate legally and make the agency confidently adopt them.
Saxo added: “Stabilizing currency may have a demand for trillions of dollars worth of US Treasury bonds, which may reduce long -term interest rates.”
The sacks and Hill are not the only spokesman at this press conference. Several leaders of the Senate committees including Bill Hages and Tim Scott also attended the meeting, which showed the commitment to establish a wide range of alliances.
All in all, Davis Sacks is very serious about the encryption policy, and he is going to create the maximum value.
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