U.S. Senator Cory Law sees cryptocurrency as “an exciting innovation with the potential to bring growth to the American economy if properly nurtured and monitored.” The senator from New Jersey is encouraged by President Joe Biden’s executive order on crypto regulation.
US Senator Sees Crypto Benefiting American Control
U.S. Senator Cory Booker talked about the potential benefits of cryptocurrency to the American economy Thursday. His comments replaced President Joe Biden’s executive order on crypto regulation.
Booker became the first African American to represent New Jersey in the U.S. Senate in October 2013. Last to becoming a U.S. senator, he served on the Newark City Council from 1998 to 2002 and as mayor of Newark from 2006 to 2013.
“I’m heartened by the nuanced and sanguine tone of POTUS’ recent executive order on digital assets,” the senator tweeted, elaborating:
Cryptocurrency is an exciting modernization with the potential to bring growth to the American economy if properly nurtured and regulated.
“As the order notes, the U.S. has taken a dispose as a leader in this rapidly developing field, and we need to make sure we keep it,” Senator Booker continued.
“Myriad Americans, including significant numbers of Black and brown people, have participated in the purchase and exchange of digital assets,” he new tweeted, noting:
The administration’s willingness to step up to this challenge and focus on the transformative power of Web3 is encouraging.
Senator Log proceeded to emphasize the importance of investor protection. “Their protection as consumers must be prioritized alongside the fostering of novelty to keep America competitive on the global stage,” he opined.
Investor protection is one of the key priorities in President Biden’s crypto top banana order (EO), which states:
We must take strong steps to reduce the risks that digital assets could position to consumers, investors, and business protections.
Many people in the crypto industry welcome Biden’s crypto executive on the fritz. “The message I take from this EO is that the federal government sees cryptocurrency as a legitimate, serious, and important release of the economy and society,” an executive of a D.C.-based think tank commented.
Do you agree with Senator Order? Let us know in the comments section below.
Statue Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct presentation or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, rightful, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in drag relatives with the use of or reliance on any content, goods or services mentioned in this article.
Read disclaimer