The cryptocurrency industry is on its way towards receiving its first regulations in the United States, which many recognize as a historical moment that it is. However, more than that has been going on recently, and a number of major crypto CEOs are now facing Congress on Capitol Hill.
One of them, the chairman of Bloq, blockchain investor, and entrepreneur, Matt Roszak, spoke briefly about the state of things in a recent CNBC interview, stating that there is a need for a national action plan for digital currencies.
Roszak noted that he was called in to testify in the House five years ago — back in 2016 — and a lot of the themes used to be about innovation, jobs, investment, and alike. However, it was mostly overshadowed by the need for education for members of Congress. Roszak thinks that things are still not where he would want them to be in this regard, and there is still a long way to go when it comes to educating the members of Congress about crypto, blockchain, their potential, risks, and opportunities.
Roszak sees crypto as a major tool that could significantly improve American competitiveness, innovation, and simply help with fixing the issues of Wall Street and beyond.
The national action plan for crytpo
Speaking of regulation, he said that there are numerous agencies focused on it at this time. Meanwhile, all that investors themselves are seeking is clarity. At the same time, the agencies, such as the SEC, CFTC, the Treasury, and more, all have working groups dedicated to the issue.
Roszak noted that, on the other hand, there are CEOs of major institutions like PayPal, Visa, Square, who are all leaning into crypto. He says that it was amazing to watch as these people went from ignoring crypto to being skeptics, becoming interested, and finally accepting and adopting digital coins. Now, he wishes to see the same happening at the top, as well, meaning the White House and Joe Biden.
He sees crypto as important as the internet itself, which is why he calls for a national action plan for crypto, similarly to the plan for the internet that was so crucial 25 years ago.