Senator Cory Booker of the United States considers cryptocurrency to be “an exciting innovation with the potential to grow the American economy if properly nurtured and regulated.” President Joe Biden’s executive order on cryptocurrency regulation has inspired Senator Cory Booker of New Jersey.
Senator from the United States believes that cryptocurrency will help the American economy
Senator Cory Booker of New Jersey discussed the potential economic benefits of cryptocurrency on Thursday. His remarks came in the wake of President Joe Biden’s executive order on cryptocurrency regulation.
In October 2013, Booker became the first African American to represent New Jersey in the United States Senate. He served on the Newark City Council from 1998 to 2002 and as mayor of Newark from 2006 to 2013.
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“I’m encouraged by President Trump’s nuanced and optimistic tone in his recent executive order on digital assets,” the senator wrote on Twitter, adding:
Cryptocurrency is an exciting innovation that, if properly nurtured and regulated, has the potential to grow the American economy.
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“As the order states, the United States has established itself as a leader in this rapidly evolving field, and we must ensure that we maintain that position,” Senator Booker continued.
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“Many Americans, including a sizable number of Black and brown people, have participated in the purchase and exchange of digital assets,” he added, adding:
It’s encouraging to see the administration rise to the occasion and focus on Web3’s transformative potential.
Senator Booker went on to stress the importance of protecting investors. “To keep America competitive on the global stage, their protection as consumers must be prioritized alongside the fostering of innovation,” he said.
One of President Biden’s top priorities in his crypto executive order (EO) is investor protection:
To reduce the risks that digital assets may pose to consumers, investors, and business protections, we must take aggressive measures.
Biden’s crypto executive order has been greeted positively by many in the crypto industry. “What I take away from this EO is that the federal government views cryptocurrency as a legitimate, serious, and important part of the economy and society,” a D.C.-based think tank executive said.
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