The evaluation of the bitcoin reserve is one of the primary tasks for the working group on digital asset markets. This was stated by David Sachs, Donald Trump’s special adviser on AI and cryptocurrencies and head of this structure.
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The creation of a national Bitcoin reserve was included in the list of campaign promises of the US President.
https://coinpaper.com/6982/donald-trump-is-set-to-make-cryptocurrency-a-national-priority
Sacks called the asset ”an excellent store of value.”
”It’s the strongest digital currency. […] No one has hacked its security,” he explained.
The official emphasized the interest of members of the House and Senate banking and financial committees in creating a regulatory framework for cryptocurrencies ”in the next six months.” He added that stablecoin legislation would be the primary focus.
Senator Bill Hagerty introduced a project to establish oversight of stablecoin issuers, dividing regulation between state agencies and the Federal Reserve with the OCC under the US Treasury.
At a joint press conference with Sacks, the chairmen of the House Financial Services Committee French Hill, House Agriculture Committee Glenn Thompson, and Senate Agriculture Committee John Boozman promised to revisit the Financial Innovation and Technology Act (FIT21).
”We want to keep innovation in the US. Financial assets are destined to become digital, like all analog industries,” Sacks stated.
Recall that Sygnum stated that the approval of a favorable regulatory framework by the US Congress would determine the dynamics of altcoins.
Earlier, the SEC repealed Rule SAB 121. The document effectively prohibited banks from storing digital assets.
This article was originally Posted on Coinpaper.com
