Monday, January 30, 2023

Don’t Stifle Crypto Innovation By Cointelegraph

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© Reuters.

U.S. Senator Bill Hagerty (R-VA), who was elected in 2020 to represent Tennessee after a stint as Ambassador to Japan, spoke to newly appointed Consumer Financial Protection Bureau Director Rohit Chopra regarding cryptocurrencies in a banking committee hearing, saying “I just want to make certain as you exercise those oversight responsibilities that we don’t stifle innovation in this arena.”

Hagerty introduced legislation with Senator Mark Warner (D-VA) in July to study China’s adoption of a digital currency. Chopra and Hagerty have notably clashed previously during the former’s confirmation hearings, with Hagerty even introducing a bill to require congressional approval for the bureau’s funding.