OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Hearing of the House Financial Services Committee - Opening Statement of Rep. French Hill, Hearing on "Examining Facebook's Proposed Cryptocurrency and Its Impact on Consumers, Investors, and the American Financial System"

Hearing

Date: July 17, 2019
Location: Washington, DC
Issues: Technology and Communication Finance and Banking

REP. FRENCH HILL

"This timely hearing touches on critical areas of jurisdiction within our Committee: FinTech innovation, oversight questions related to the use and trading of cryptocurrencies, and the intersections of financial services and 'Big Data'.

"We therefore must ensure that we are asking thoughtful questions as we learn about and analyze these rapidly emerging trends.

"As a former community banker, I understand the importance [of] appropriate regulation and balance to benefit the American consumer.

"And as lawmakers, we all need to ensure that all the companies that operate here in America, with American consumers are in full compliance of those laws.

"America is evolving into a digital era, and we need to make sure we are asking the right questions. I urge my colleagues to do that, but always, trust but verify."


Source
arrow_upward