U.S. Senator Cynthia Lummis asserts that the U.S. remains the leading country in financial innovation, aiming for laws that promote cryptocurrency while protecting users.
Ms. Lummis hopes to collaborate with various stakeholders and the industry to build an appropriate legal framework that supports the development of digital assets and encourages innovation.
MAIN CONTENT
The U.S. maintains a global leadership position in financial innovation.
Senator Cynthia Lummis is committed to promoting cryptocurrency laws.
New laws aim to balance market development and consumer protection.
How is the U.S. truly leading in financial innovation?
Senator Cynthia Lummis emphasized that the United States maintains its leading position in the financial sector thanks to continuous innovation, especially in cryptocurrency. She stated that the U.S. economy is not only holding steady but also progressing rapidly by applying digital technology to the financial market.
In fact, many of the world's leading fintech and cryptocurrency companies are headquartered in the United States, creating a thriving ecosystem with high-quality capital and human resources. Data from the World Economic Forum 2023 also recognizes the U.S. as the leading global financial innovation hub.
What is Senator Cynthia Lummis's strategy for developing cryptocurrency laws?
Ms. Lummis stated that the main goal is to create a reasonable legal framework that promotes the development of the cryptocurrency market while protecting user rights. The collaboration between bipartisan legislators and the industry is hoped to help quickly finalize laws that align with practical realities.
"We need a safe and transparent digital asset market that serves sustainable development and the best protection for consumers."
Cynthia Lummis, U.S. Senator, 07/22/2023
The bill is expected to facilitate businesses' innovation, standardize trading activities, and manage risks, thereby reinforcing the U.S.'s leading position in the global financial market.
How should cryptocurrency laws balance innovation and consumer protection?
To not hinder development, cryptocurrency laws must be both flexible and clearly directed. Ms. Lummis believes that policies are needed to protect users from fraud risks while not hindering technological innovations.
According to the 2023 U.S. Monetary Council report, this balance helps create a sustainable development environment, attracting investment and startups in the digital finance sector, while also increasing consumer confidence in the market.
Frequently Asked Questions
What is the position of the United States in the digital finance sector?
The U.S. is seen as the leading financial innovation hub thanks to a network of businesses and laws that promote technology application.
What does Senator Cynthia Lummis hope to achieve with cryptocurrency laws?
She aims to build a legal framework that supports development and protects cryptocurrency users, promoting multilateral cooperation.
What factors need to be balanced in cryptocurrency laws?
Consumer protection must be ensured while facilitating innovation and developing a sustainable market.
What points in the current cryptocurrency market law need improvement?
Current policies lack consistency and need to include transparent and safe regulations for digital transactions.
How will the new law support digital financial businesses?
By creating a clear legal environment, reducing barriers, and encouraging innovation.
Source: https://tintucbitcoin.com/thuong-nghi-si-lummis-thuc-day-luat-hoa-tai-san-so/
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