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United States lawmaker French Hill noted that Donald Trump will take a more crypto-friendly approach than the present administration. The run-up to the Presidential Election has seen crypto become an issue with lawmakers making huge statements ahead of the polls. Donald Trump has also moved closer to the sector making a pro-crypto case.
<h2 id="strong-french-hill-backs-trump-s-pro-crypto-stance-strong">French Hill Backs Trump’s Pro Crypto Stance</h2>
Republican lawmaker, French Hill explained the type of crypto regulatory framework he feels Donald Trump might adopt in the country. In a recent CNBC interview, French Hill stated that the recently passed FIT21 bill is the type of regulatory framework the Trump administration will adopt in the sector.&nbsp;
<blockquote class="twitter-tweet" data-media-max-width="560">
 <a rel="noopener noreferrer nofollow" href="https://twitter.com/hashtag/FIT21?src=hash&amp;ref_src=twsrc%5Etfw">#FIT21</a> that passed the House with 71 Democratic votes is exactly the kind of regulatory framework for digital assets that former President Trump would support if he were re-elected.
 Watch more on <a rel="noopener noreferrer nofollow" href="https://twitter.com/SquawkCNBC?ref_src=twsrc%5Etfw">@SquawkCNBC</a><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f53d.png" alt="🔽" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a rel="noopener noreferrer nofollow" href="https://t.co/ceTmU4LApU">pic.twitter.com/ceTmU4LApU</a>
 — French Hill (@RepFrenchHill) <a rel="noopener noreferrer nofollow" href="https://twitter.com/RepFrenchHill/status/1808504435972145297?ref_src=twsrc%5Etfw">July 3, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
The <a href="https://coingape.com/trending/what-is-the-fit21-crypto-bill-key-insight-more/" target="_blank" rel="noopener noreferrer nofollow">FIT21 bill</a> is tipped to protect investors and consumers in the market by stating clear rules and powers of different regulatory bodies in the sector. According to Hill, Trump will adopt it because it directs the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) on the specific regulatory framework needed in the market.&nbsp;
<blockquote>
 “… for people who are innovative and starting a token crypto, a related firm, custody of those assets, how to make sure consumers are protected, so that framework I think is the right approach and that’s what I will recommend for the President that he endorses, is we haven’t passed it between now and the end of this Congress.”&nbsp;
</blockquote>
Furthermore, he tipped Trump to be a pro-growth and innovative President on financial matters.&nbsp;
<h2 id="strong-crypto-becoming-mainstream-strong">Crypto Becoming Mainstream</h2>
This election cycle saw the <a href="https://coingape.com/gop-election-win-could-propel-crypto-analysts-say/" target="_blank" rel="noopener noreferrer nofollow">crypto industry</a> taking a place in mainstream issues following wider adoption across demographics. From candidates moving toward enthusiasts to recent pro-legislation in Congress, crypto assets have become a rallying point for officials. The US regulatory landscape has been criticized for stifling growth due to frequent <a href="https://coingape.com/ripple-sec-lawsuit-sec-files-opposition-to-xrp-heres-everything/" target="_blank" rel="noopener noreferrer nofollow">SEC lawsuits</a>. This led to executives pushing for pro-crypto laws and raising funds for pro-industry candidates.&nbsp;
Also Read: <a href="https://coingape.com/federal-reserve-forecasts-ai-will-be-deflationary-to-boost-economy/" target="_blank" rel="noopener noreferrer nofollow">Federal Reserve Forecasts “AI Will Be Deflationary” To Boost Economy</a>
The post <a href="https://coingape.com/us-lawmaker-french-hill-doubles-down-on-trumps-pro-crypto-stance/" rel="noopener noreferrer nofollow">US Lawmaker French Hill Doubles Down On Trump’s Pro-Crypto Stance</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

US Lawmaker French Hill Doubles Down On Trump’s Pro-Crypto Stance

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