Washington, D.C. – Blockchain Innovation Project Co-Chairs Former Reps. David McIntosh and Tim Ryan issued the following statement in response to recent progress on stablecoin legislation.
“The Blockchain Innovation Project is very encouraged by the Senate and House progress on Stablecoin legislation as part of a whole and comprehensive crypto policy framework for the United States. Market structure legislation is the next key component of this effort and should be a top priority.
“We encourage Congress to finish these crucial bills, which are needed to establish a comprehensive crypto framework. As this process moves forward, BIP encourages House and Senate leaders to work to strengthen these legislative efforts in the following ways:
- Ensure that legislation for market structure receives similar priority as stablecoin legislation.
- Ensure that stablecoin issuers can compete on a level playing field through the provision of yield to customers, provide maximum flexibility for the provision of stablecoin custody services and ensure that AML regulations do not improperly target decentralized finance.
- Ensure maximum protection of self-custody rights to preserve peer-to-peer- transactions enabled by blockchain technology, such as proposed in the ‘Keep Your Coins Act’.
“BIP looks forward to working with House and Senate stakeholders on these important goals.” – Former Reps. David McIntosh & Tim Ryan, Co-Chairs, Blockchain Innovation Project.
Blockchain Innovation Project (BIP) is co-chaired by former Congressmen David McIntosh (R-IN) and Tim Ryan (D-OH), and works closely with allies at Moderate PAC and the Club for Growth’s Bitcoin Freedom PAC to highlight the issues of blockchain innovation and digital asset freedom. BIP is a nonpartisan advocate for digital assets against the political forces in Washington seeking to destroy the industry.