US Lawmaker French Hill Doubles Down On Trump’s Pro-Crypto Stance
 
 Highlights
- Rep. French Hill noted that Donald Trump will embrace pro-crypto laws.
- He tipped the FIT21 bill as the type of framework to be adopted.
- This comes after the digital asset industry gains momentum ahead of the polls.
United States lawmaker French Hill noted that Donald Trump will take a more crypto-friendly approach than the present administration. The run-up to the Presidential Election has seen crypto become an issue with lawmakers making huge statements ahead of the polls. Donald Trump has also moved closer to the sector making a pro-crypto case.
French Hill Backs Trump’s Pro Crypto Stance
Republican lawmaker, French Hill explained the type of crypto regulatory framework he feels Donald Trump might adopt in the country. In a recent CNBC interview, French Hill stated that the recently passed FIT21 bill is the type of regulatory framework the Trump administration will adopt in the sector.
#FIT21 that passed the House with 71 Democratic votes is exactly the kind of regulatory framework for digital assets that former President Trump would support if he were re-elected.
Watch more on @SquawkCNBC🔽 pic.twitter.com/ceTmU4LApU
— French Hill (@RepFrenchHill) July 3, 2024
The FIT21 bill is tipped to protect investors and consumers in the market by stating clear rules and powers of different regulatory bodies in the sector. According to Hill, Trump will adopt it because it directs the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) on the specific regulatory framework needed in the market.
“… for people who are innovative and starting a token crypto, a related firm, custody of those assets, how to make sure consumers are protected, so that framework I think is the right approach and that’s what I will recommend for the President that he endorses, is we haven’t passed it between now and the end of this Congress.”
Furthermore, he tipped Trump to be a pro-growth and innovative President on financial matters.
Crypto Becoming Mainstream
This election cycle saw the crypto industry taking a place in mainstream issues following wider adoption across demographics. From candidates moving toward enthusiasts to recent pro-legislation in Congress, crypto assets have become a rallying point for officials. The US regulatory landscape has been criticized for stifling growth due to frequent SEC lawsuits. This led to executives pushing for pro-crypto laws and raising funds for pro-industry candidates.
Also Read: Federal Reserve Forecasts “AI Will Be Deflationary” To Boost Economy
- Will Crypto Market Rebound or Crash Ahead as 10X Research Tips Shorting Ethereum?
- Sam Bankman-Fried Says FTX Was “Never Bankrupt,” Crypto Community Reacts
- XRP ETF Coming This November 13 As Canary Capital Submits Updated S-1 By Removing Roadblocks
- Canary XRP ETF Filing Removes SEC Delay Clause, Targets November Launch
- CFTC, SEC Launch ‘New Era of Collaboration’ to Clarify Crypto Rules, End Regulation by Enforcement
- Sei Price Forecast: Will Robinhood Listing Spark a Rally?
- XRP Price Outlook as ETF Nears Possible November 13 Launch
- Cardano Price Risks 20% Crash Amid Death Cross and Falling ADA ETF Odds
- Bitcoin Price Forecast as Trump Cuts Tariffs After US-China Trade Deal
- Analyst Foresees a Parabolic Rally for Pepe Coin Price as Whale Accumulation Intensifies
- Fidelity Amends S-1 for Solana ETF: Is SOL Price Set to Rally?
 
 MEXC
MEXC 
					
					
					  
                                                                                                                                                                     
                                                                                                                                                                     
                                                                                                                                                                     
                   
                   
                   
                   
                   
  
                                
  
                         
                     
                   
                   