if we wish to prevent crypto assets from being used for ransomware, if we wish to prevent wash trades and other market manipulation, is there any alternative to having every crypto transaction ultimately associated with a traceable legal identity issued by a country with which we have extradition treaties?
Foster questions the necessity of traceable identities for crypto transactions to prevent misuse.
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In 2021, President Biden issued an Executive Order encouraging regulators to take steps to promote market competition across our economy.
If we need an example of why oversight of nonbank financial firms is essential, we can look at China today.
I think the two most significant recent uses of this are the COVID epidemic, and also, the recent AI Executive Order.
I was very encouraged to hear my Republican colleagues' support for your mission, and that they agree with roughly 80 percent of Americans that you are doing something useful here.
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