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Yesterday MP Maxine Waters announced the formation of a new task force for House Democrats to focus on cryptocurrency policy.
In a statement shared with The Block on Wednesday, the Waters team revealed the group’s list, which includes 12 members of the House Financial Services Committee.
On the list was Stephen Lynch, chairman of the Fintech working group. It was actually during the task force’s first hearing that Waters made the announcement.
The task force also includes Bill Foster, who chairs the AI task force, is a member of the Blockchain Caucus, as well as possibly the only blockchain programmer in Congress. In a statement to The Block, Foster wrote:
“The United States is catching up with the rest of the world when it comes to digital currency, and if we are to protect the status of the US dollar as a global reserve currency, we must develop secure and confidentiality systems. . digital currency a priority. “
In its announcement, Waters identified the group’s goals:
“The members plan to work together on legislative and policy solutions on issues such as the regulation of cryptocurrencies, the use of blockchain and distributed ledger technology, and the possible development of a digital currency of the US central bank. “
Members of the task force also include Sylvia Garcia, who introduced the “Managed Stablecoins Are Securities Act of 2019” in response to Facebook’s work on Libra (now Diem). The oldest member is notorious anti-crypto Brad Sherman, who joined yesterday’s hearing to voice concerns about the possible usefulness of a U.S. CBDC in tax evasion.
Across the aisle, Republican Congressman Warren Davidson tweeted his support for the new task force, saying he looks forward to working with colleagues to provide the regulatory clarity America needs to see this aspect of FinTech flourish.
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