US Congressman Patrick McHenry is ramping up his support for the rise of cryptocurrency like Bitcoin, an advancement that he views as “the building blocks to creation of the next generation of decentralized internet technology.” He pointed out during the House Financial Services Committee meeting that the US is at risk of falling behind in the digital asset ecosystem without effective regulation and innovation. According to McHenry, terms like “cryptocurrency, blockchain, and digital asset” are part of the everyday discourse for millions of people worldwide. Concerning Bitcoin, the US representative declared that it containsthe potential to transform the economy, provided that crypto is dealt with correctly. On Thursday, the House Financial Services Committee failed to come to a conclusion about the said stabilcoin bill, though they are far from giving up on pushing it through. The US government has acquired a chunk of Bitcoin itself, with the catalyst currencytrekking towards mainstream adoption by even politicians and big organizations. Regulators are nearing the same enthusiasm for all types of cryptos, a process which McHenry optimistically believes Bitcoin can be the leader of. And like those groundbreaking corporations 25 years ago,digital assets are changing the game for finance, prompting another modern revolution.
