ICYMI: REP. HILL ON SQUAWK BOX: "WE HAVE CONFUSION IN THE MARKETPLACE ON DIGITAL ASSET REGULATION"

WASHINGTON, D.C., June 7, 2023

Today, Rep. French Hill (AR-02) joined Squawk Box to discuss the SEC's lawsuit against Binance and Coinbase, as well as the joint discussion draft between the House Financial Services Committee and House Agriculture Committee on a statutory framework for digital asset regulation.

To watch the full interview, click HERE.

Topline Quotes:

  • “I think it speaks that we have confusion in the marketplace, both in the commodity marketplace and the securities marketplace about to have the rules of the road for digital assets.”

  • “So, both the action on Coinbase and Binance, and of course the infamous collapse of FTX last year, speak to me that we need this clear, concise statutory framework - that's why we've introduced this bill. We think it will both bring clarity to the mission of the Securities and Exchange Commission and set up the proper oversight and function for the commodities markets as it relates to digital over at the CFTC."

  • “Well, I think if we had this bill in place, the SEC wouldn't have to take the actions that they've taken because this bill tells investors, consumers, market innovators in distributed ledger technology and in digital assets how to become a decentralized digital asset company.”

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