U.S. Rep. French Hill (R-AR), chair of the House Financial Services Committee, is urging the acting chairman of the U.S. Securities and Exchange Commission (SEC) to remove hurdles put in by place by the Biden Administration that hinder the digital asset ecosystem.
“Over the previous four years, the U.S. Securities and Exchange Commission (SEC) has established itself as one of the primary impediments to the development of digital assets. With your leadership and President Trump’s nomination of Paul Atkins to be the next Chair of the Commission, there is renewed hope that the SEC will turn a corner on its outwardly hostile stance toward the digital asset ecosystem. We are pleased that both you and Commissioner Peirce have led the SEC to take important steps toward turning this hope into a reality. We write today to encourage the Commission to take additional steps to remove the inappropriate hurdles put in place by the Biden Administration,” Hill wrote to acting SEC Chair Mark Uyeda.
The letter was also signed by Bryan Steil (R-WI), chairman of the Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence, and Ann Wagner (R-MO), chair of the Subcommittee on Capital Markets.
“Thank you for the work that you have already done to right the wrongs of former Chair Gensler’s SEC. We feel strongly that the SEC—by abandoning the aforementioned proposals and modifying the 2019 guidance—can continue this upward trajectory. The House Committee on Financial Services Republicans stand ready to support the SEC by advancing legislation that establishes a clear legal framework for digital asset classification. Together, we can cement the United States as the global leader in blockchain technology,” the letter concluded.