A former White House adviser said that it is “critical” that crypto innovation remains in the United States
Carole House, who helped draft President Biden’s crypto order, has argued that preserving crypto resources domestically is vital to the nation’s security.
On Monday, House said on CoinDesk TV’s “First Mover” that it is also against U.S. national security goals to push cryptocurrencies and other financial systems outside of the U.S.
She also stressed the need to keep crypto and financial innovation under the watchful eye of U.S. authorities.
House stated, “It’s important to be able to not only punish bad actors but also give them clear paths under oversight so that we enable innovation to happen here.”
House, who is the head of the Commodity Futures Trading Commission’s new Technology Advisory team, stated that her team is seeking to find out “what the practical reality of how technologies are changing and where the biggest risks are.”
House said that the committee might provide the CFTC with more actionable suggestions on regulatory frameworks and policy guidelines if it had a deeper understanding of new technologies.
She said the panel would discuss technology policy, the legal implications of decentralized finance and AI, and cybersecurity in the commodities and derivatives markets before their first meeting on Wednesday.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.