This is what needs to be done to secure Defi and crypto-friendly regulations, US lawmaker says

U.S. Rep. TED Budd (R-NC) of North Carolina said the United States could adopt crypto-friendly regulations amid fears of blockchain evolution and decentralized finance (Deci).

U.S. legislative assembly, maker MakerDAO Defi protocol supported by the speaker, in an interview for the series, some of colleagues on the House Financial Services Committee, and new financial technologies could harm America’s sovereignty, national security that might pose threats to destabilize the dollar and Shipping said worried.

 
“Some in the House, not far from me, are part of the House Financial Services Committee, which will call this blockchain mostly financial 911. I agree totally with this. I think we should be very open to that. We need to make the United States a place where that thrives and thrives. 

This is a new technology. It will evolve and I would rather evolve here in the US, Singapore, Estonia or elsewhere, not in those countries, but in other countries that might be hostile to us.

I prefer it to be on our shores and that’s why we have a regulatory framework where people can expect what the future will look like and how it will develop within that framework.”

The legislator also says MakerDAO, which supports and regulates the Dai stable coin (Dai), and the crypto community should cooperate with regulators in the industry.

“I would advise your members to get to know their lawmakers in the House of Representatives, especially in the American house, because it’s a stable coin, and it’s a U.S. currency issue. Know those who are part of the Financial Services Committee-I am one of them-and know the members of Congress.

Maybe you can meet at one of the regional offices and call the regional managers. Ask for a meeting. Call their planner and ask them to be on their calendar for 15 minutes and suggest just that.

If you can explain it clearly, ask how they think about these things, suggest questions in advance. We’re in the public domain. Or talk to an employee

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