This US Senator Calls Cryptocurrencies Beneficial To The Country's Economy

Cryptocurrencies are said to provide economic benefits to countries. (Photo; Kanchanara - Unsplash)

JAKARTA – The United States senator, Cory Booker, discussed the potential of cryptocurrencies for the country's economy last Thursday. Booker made his statement following an executive order from the White House.

Booker became the first African-American to represent New Jersey in the US Senate in October 2013. Prior to becoming a US senator, he served on the Newark City Council from 1998 to 2002 and as Mayor of Newark from 2006 to 2013.

“I am heartened by the nuanced and optimistic tone of the recent POTUS executive order on digital assets,” tweeted senator Booker.

“Cryptocurrencies are exciting innovations with the potential to bring growth to the American economy if properly nurtured and regulated.”

Booker added that the US has taken the lead in this emerging field at the moment. Booker wants confirmation regarding the recent executive order statement

"As an order note, the US has taken a leadership position in this fast-growing field, and we need to make sure we maintain that," continued Senator Booker.

“Many Americans, including large numbers of blacks and browns, have participated in the buying and exchanging of digital assets,” he further tweeted.

He also noted: “The government's willingness to step up to this challenge and focus on the transformative power of Web3 is encouraging.”

Senator Booker went on to stress the importance of protecting investors. "Protecting them as consumers must be prioritized alongside fostering innovation so America remains competitive on the global stage," he said.

Investor protection is one of the top priorities in President Biden's crypto executive order (EO), which states:

“We must take strong steps to reduce the risk that digital assets can pose to consumers, investors and business protection.”

Many in the crypto industry welcomed Biden's crypto executive order. “The message I take from this EO (executive order) is that the federal government sees cryptocurrencies as a legitimate, serious, and important part of the economy and society,” Booker added.