In the News

Today, Rep. French Hill (AR-02) joined Squawk Box to discuss the historic House Financial Services Committee markup of bills that will create a functional regulatory framework for digital assets while protecting consumers and keeping innovation in the United States.

Topline Quotes:

• “We have this regulatory framework overall that deals with what is a digital asset? Is it a security, is it a commodity? How do you trade those, where do they trade? Is it traded on a commodity exchange or a securities exchange? And how are investors protected and how are innovators able to bring those entities to the market?”
  
  
• “What Congress authorizes in these bills is we allow a stablecoin to be issued at the states under a state regulatory scheme that's supervised by the Federal Reserve and Federal Reserve high standards, and so that's the pathway - it can be either a federal pathway or a state pathway."
  
  
• “We need the stability of a regulatory framework; we need a statutory regulatory framework because I don't think that the SEC has the 'fit for purpose' statutory authorities to do what they need to do.”