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LIVE - White House crypto chief David Sacks: The approach to date has been to move important future technology abroad. But we want to keep this innovation within the United States. Just as every analog industry is becoming digital, financial assets are doomed to become digital.
LIVE - Sacks: We want this value creation to happen in America, not abroad. It is also better for consumer protection, because regulators can more easily monitor the activity when it is domestic. It is no coincidence that the biggest scam in crypto history, FTX, is based in the Bahamas. By keeping innovation domestic, we can more easily separate good actors from bad actors. I believe that by working with each of you, we will usher in a “golden age” of digital assets.
The chairman of the US House Financial Services Committee announced that both houses of Congress will form a crypto working group.
