Hagerty to CFPB Director: Don’t Stifle Crypto Innovation

[TomPluz]

The conversation occurred at a banking committee meeting with Consumer Protections director Rohit Chopra.

U.S. Senator Bill Hagerty (R-VA), who was elected in 2020 to represent Tennessee after a stint as Ambassador to Japan, spoke to newly appointed Consumer Financial Protection Bureau Director Rohit Chopra regarding cryptocurrencies in a banking committee hearing, saying “I just want to make certain as you exercise those oversight responsibilities that we don't stifle innovation in this arena.”

“Digital ledger technology offers a tremendous amount of promise in terms of financial innovation and inclusion. It’s an industry where I think the United States is leading, has led, and I’d like to see us continue to lead there. Especially when we look at other countries like China and the Chinese Communist Party that has moved to ban private sector activity in that arena.”

Source: HERE!


I agree 100% with this good senator. This is a big opportunity for USA to lead the cryptocurrency market and innovations while for now China and other countries seem to be not interested to lead the pack. Let's hope that politics will not get in the way with this industry and that the Biden administration will not actually stifle it under the influence of politicians and bureaucrats who are corrupted by their own philosophies.