US Lawmakers Urge Fed Chair Jerome Powell to Support Crypto Innovation

US Lawmakers Urge Fed Chair Jerome Powell to Support Crypto Innovation


Several U.S. lawmakers have called on Federal Reserve Chairman Jerome Powell to support cryptocurrency innovation. “The Federal Reserve must work to support domestic innovation … Our government should never be in the business of thwarting innovation.”

Members of Congress Urge Fed Chair Powell to Support Crypto Innovation

Several U.S. Congress members have sent a letter to Fed Chair Jerome Powell asking him several questions regarding the Fed’s effort on cryptocurrency regulation. The bipartisan letter is signed by Reps. Tom Emmer, Darren Soto, Frank Lucas, Ted Budd, Ro Khanna, Glenn “GT” Thompson, and Eric Swalwell.

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Rep. Emmer described:

Empowering individual Americans to become everyday investors should be our highest priority – decentralized digital assets provide that opportunity. The Federal Reserve must work to support domestic innovation … Our government should never be in the business of thwarting innovation.

The congressman explained that his letter “highlights concern with Powell’s statement that the biggest supporting argument for a Fed-issued digital currency is

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