Historically, the United States has been the world’s leader in financial innovation, but the Biden administration’s hostility to digital assets weakened the United States’ leadership. The Biden administration targeted the digital asset industry and failed to protect investors or provide clear rules of the road.

Instead, the administration favored regulation by enforcement, taking multiple enforcement actions against digital asset companies for failing to comply with unclear standards, forcing entrepreneurs and innovators abroad.

America is the global leader in financial services, and with that enormous privilege comes a duty to encourage innovation. From the creation of modern capital markets to the internet revolution, we have set the standard that others follow. Congress has taken an important first step in enacting the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act for payment stablecoins. But lasting regulatory clarity for digital assets will require comprehensive market structure legislation that draws the line between securities and commodities, creates a regulatory framework for digital asset exchanges, and provides legal certainty for innovators while protecting investors.

Clarity matters not just for companies, but for families and small businesses who deserve transparency,........

© Independent Journal Review