Three proposed crypto industry bills, along with other laws and regulations currently in place, will keep the United States as the "leader in worldwide finance," and bring clear, concise regulations for 100 million U.S. households and institutions, Joe Sticco, the co-founder of Cryptex Finance, said on Newsmax Tuesday.
"We finally have clarity on regulated stablecoins," Sticco said on Newsmax's "National Report." "We finally have clarity on how institutions can participate in this space, and these things will provide immense opportunity to not only financial institutions in this country and maintain their leadership, but also regular American citizens themselves."
Monday night, the House Rules Committee, as part of "Crypto Week," set the stage for votes on the new legislation:
- The Genius Act: Aims to clarify when digital assets like crypto tokens are considered securities and commodities.
- The Clarity Act: Blocks federal agencies from using court rulings to overextend regulatory power.
- The Central Bank Digital Currency Surveillance State Act: Prohibits the Federal Reserve from issuing a central bank digital currency.
"For me as a builder in the United States, building a project, Cryptex Finance, we're trying to create the S&P 500 of digital assets that can be created as an index with stablecoin that's regulated in the U.S.," Sticco told Newsmax. "This is the first time in the history of this industry that, thanks to this administration and bipartisan support in our Congress and our Senate, we finally have clear rules. So, as a builder in the United States, this is the greatest time ever."
Bitcoin, he added, hit the highest price it's ever been, meaning that "if you ever bought bitcoin in the history since its inception, you have profited."
Passing the laws, he added, will not only mean a great deal for the crypto industry, but for tokenized stocks and equities as well.
"There are trillions of dollars in capital waiting to come on chain, and these laws help make that happen sooner and help make that happen safer," he said.
Meanwhile, members of Sticco's team met recently with White House officials, including Bo Hines, the presidential adviser on digital assets, and Sticco told Newsmax there will be several factors that influence policy.
"They're voting now on keeping DOS open source and decentralized, keeping the technology free for the world," he said. "Not only that, but we're regulating stablecoins, which is going to bring trillions of dollars in capital that's currently sidelined into this space. So those things alone, open access for American citizens, protecting privacy, and no central bank digital coins, these alone are incredible, incredible feats."
He added that in a short period, the administration has made a primary focus out of "getting these things out fast, efficiently, and with bipartisan support."
He said that Hines and his team are "doing an incredible job, and pointed out that his team was able to meet with the Securities and Exchange Commission on Friday, after having difficulty over the past four years to get a meeting.
"Now we're able to book time with the crypto tack force, go in, have conversations," he said. "It's a remarkable time not only as a builder, but as a citizen of the country, in crypto."
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Sandy Fitzgerald ✉
Sandy Fitzgerald has more than three decades in journalism and serves as a general assignment writer for Newsmax covering news, media, and politics.