Republicans in the U.S. House of Representatives are criticizing the White House, saying the Biden administration’s approach to crypto assets threatens the nascent industry.
In a new memo addressed to the members of the House Committee on Financial Services, Republicans acknowledge that digital assets are a thriving trillion-dollar market.
“Today, the total digital asset market capitalization stands at approximately $1.06 trillion, with Bitcoin and Ether making up approximately 60 percent of the market. The digital asset ecosystem, while nascent, contains a diverse array of businesses and operations united in their common use of distributed ledger technology.”
However, the lawmakers say that the crypto industry in the US is now at risk of being pushed overseas due to the rules proposed by the Biden administration over
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