• US Congressman French Hill is advocating for a favorable regulatory framework for digital assets and blockchain technology in order to make America the go-to place for innovation in fintech.
• He discussed Bitcoin’s ability to be used as a real-time payment method and the possibility of approving a spot Bitcoin ETF on CNBC’s Squawk Box.
• Hill noted the need to use the expertise of the current SEC Chair Gary Gensler in order to make progress on these issues.
US Congressman French Hill is on a mission to make America the go-to place for innovation in fintech, specifically digital assets and blockchain technology. Hill, who is the chairman of the newly formed congressional subcommittee on digital assets, discussed his plans on CNBC’s Squawk Box on January 26.
During his interview, Hill spoke on Bitcoin’s ability to be used as a real-time payment method yet, but noted that the goal is to make sure that America is the place for innovation in fintech and blockchain technology. He also weighed in on the possibility of approving a spot Bitcoin ETF, saying that the new subcommittee is exploring this option. However, he acknowledged that the Securities and Exchange Commission (SEC) has been very wary of a spot Bitcoin ETF, as the central bank has not provided the green light for such a product yet.
Hill also noted the need to use the expertise of the current SEC Chair Gary Gensler in order to make progress on these issues. Gensler has been known for his anti-crypto stance, and Hill believes that his experience can be used to help the subcommittee move forward with its plans. Hill said that he plans to advocate a fair regulatory regime in order to make sure „America is the place for innovation in fintech and blockchain.“
Overall, Hill is committed to promoting digital assets and blockchain technology in America with the goal of making the country a leader in this field. He believes that the US should be the go-to place for innovation, and that a favorable regulatory framework will help to achieve this goal.