President Donald Trump’s new head of crypto reportedly says that we are entering into the “golden age” of digital assets now that the previous administration’s policies are being undone.
According to a new report by Fox, Bo Hines – executive director of the President’s Council of Advisors on Digital Assets – says that Biden’s policies drove much of the industry overseas while Trump is embracing the nascent sector and setting it up to thrive in the US.
Hines says that instead of helping the industry innovate, Biden used regulatory agencies under his control to go after crypto firms.
As stated by Hines, according to Fox,
“At the end of the day, the largest players to the smallest players want to be operating in the United States – they just need a clear set of rules to abide by to do so…
We’ve been in the demolition phase – removing a lot of those barriers that the Biden regime put up so that people can actually start building back here in the United States.
My main message to players in the crypto space has been – welcome home. We are going to create the most pro-crypto-friendly regulatory environment that anyone could possibly imagine because we understand how important the innovation is here in this space.”
According to Hines, the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act would establish clear regulatory guidelines for dollar-pegged crypto assets and could be the first “truly meaningful” piece of legislation signed by Trump during this second term.
“I think that Americans will see that once this [stablecoin] legislation is through – once this regulatory framework is established – the way in which they move their money will be changed forever. You will see that Americans will have better access to quicker payments and better access to transparency.”
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