The problematic regulatory environment for Crypto, Blockchain and Fintech companies in the US may soon be a thing of the past.
This is evidenced by a new law called the "Eliminate Barriers to Innovation Act of 2021", which aims to promote innovation in digital assets.
According to the law, the main aspect should be a working group to support innovation with respect to digital assets, which will consist of the following members:
- Representatives of commissions as the SEC and the CFTC
- Representatives of nongovernmental stakeholders as FinTech companies, Financial firms, Institutions or organizations engaged in academic research, Investor protection organizations and more
This working group will carry out all activities related to the creation of the legal and regulatory framework for digital assets, as well as activities related to the primary or secondary crypto markets, for a period of one year from the enactment.
Recall also a recent statement by Republican Leader K. McCarthy, who does not want the US to lag behind and begin to understand bitcoin or cryptocurrencies. Kevin McCarthy stated "They tried to ignore it to make it go away. This is something that those who regulate, those who are in government that make policy better start understanding what it means for the future." and clearly pointed to the need to improve this regulatory environment.