By Ripples’ Director of Regulatory Relations Ryan Zagone recently stated that technology needs to be a national issue for the USA, with cryptocurrencies and blockchain to be recognized within that goal.
Zagone made his statement at the Consensus 2019 conference on May 14, stating that technology needs to be a national security issue for the government of America in order to ensure that the nation is the leader and reliant on foreign innovators.
He added:
“There is a broad discussion in Washington around 5G being dominated by foreign firms and the U.S. being reliant on foreign technology and foreign expertise… With blockchain and crypto, I think there’s a recognition now that these will be part of our future infrastructure… It’s important both for national security and from an economic perspective, that the U.S. is a leader in that.”
As reported by Coinbeat, legislators in the States reintroduced the Token Taxonomy Act, which would exclude cryptocurrencies from being classified as securities. Furthermore, the bill would also introduce the introduction of regulatory certainties for businesses and regulation watchdogs within the U.S blockchain ecosystem. It will also clarify any conflicting state initiatives as well as regulatory rulings which have caused confusion as to the issue.
Furthermore, the announcement also rallies attention to the increasing strength of digital currency markets & blockchain industry in both the European and Asian regions and states that the Act is imperative to keep the USA in a competitive state within the world market.
As reported by Coinbeat, back in March the number of lobbyists working towards issues found within the blockchain industry has tripled since 2018, reaching as many as 33 projects as of the fourth quarter in 2018.
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