The former operating director of the PayPal payment company, Sax in an interview with Fox Business promised that the new decree signed by Trump would finally clarify the regulation of the crypto market. A specially formed working group on digital assets will now take up the development of the rules for the crypto market. Sax believes that industries need transparent guidelines that are ready to observe crypto companies.
The Trump administration is ready to study the formation of the state reserve in cryptocurrencies, but has not yet taken upon itself the obligation to create it, the official said.
The working group intends to distinguish between digital assets in different categories: securities, goods and collecting items. The Trump administration seeks to expand the use of stablecoins in the hope that this will increase the demand for US Treasury bonds. This strategy can support the public debt and reduce long -term interest rates, the “crypto -core” believes.
Sax criticized the approach of former US President Joe Biden, saying that his administration used forced measures for crypto companies. The absence of clear rules for the industry only displaces innovations abroad, Sachs announced. He agreed with Trump that stablecoins are the best alternative to digital currencies of central banks (CBDC), which poses a threat to financial freedom and independence of people.
Sax called the Trump Memcoin not a financial instrument, but a collection item that looks like baseball cards. He does not see any conflict of interest in the fact that this token was created and launched by the US President.
Recently, David Sax said that Bitcoin is able to protect the state budget from a fall in the course of fiat currencies. In his opinion, if the authorities change the attitude to bitcoin, conservative large companies will come to the cryptocurrency.
Source: Bits

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