If confirmed, in addition to continuing my work on strengthening the regulatory framework, I will redouble my efforts to create a more welcoming environment for innovation and new entrants. If the Commission takes up that challenge with the necessary seriousness and alacrity, our capital markets will remain dynamic, vibrant, and preeminent.American lawmakers have been slowly accelerating their involvement in the space. Experts fear that it may fall behind China, which is gearing up to launch its Central Bank Digital Currency (CBDC). UK regulators have asked the Financial Control Authority (FCA) to regulate advertisements that are associated with cryptocurrencies. Meanwhile, Japan has appointed a new digital payments director and is also rapidly expanding CBDC research. Amid the COVID-19 pandemic and these latest developments, lawmakers in the US have been busy wrapping up court cases and discussing legislation. A national digital currency has been discussed in the past, though there are no concrete updates on the matter at this time.
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