U.S. Senator Bill Hagerty talked to newly selected Consumer Financial Protection Bureau Director Rohit Chopra about cryptocurrency. Notably, Bill told Chopra not to use the power of his agency to stifle innovation in the cryptocurrency space. To note, Hagerty is a member of the Senate Banking Committee who was elected in 2020 to represent Tennessee after a stint as Ambassador to Japan.
Senator Hagerty noted:
In July, Bill and Senator Mark Warner introduced legislation to study China’s adoption of a digital currency. Notably, during the former confirmation hearings, Hagerty and Chopra clashed. Meanwhile, Hagerty introduced a bill to require congressional approval for the bureau’s funding.
In addition, in the Senate floor speech Hagerty opined, “We’re using the crypto market as a pay-for.” But, on the other hand, Chopra criticized Facebook’s adoption of Libra during his time on the Federal Trade Commission and advocated for the Federal Reserve to adopt an instant payment service called FedNow.
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Source: Cryptocurrency - investing.com
