According to Dean Phillips, a member of the US House of Representatives challenging Joe Biden for the Democratic nomination in the 2024 presidential election, “very few” members of Congress are knowledgeable about digital assets at the moment.
Speaking on December 11 at the Crypto Presidential Forum in New Hampshire, Representative Phillips criticized former President Donald Trump and U.S. President Joe Biden for their stances on financial technology and cryptocurrencies, even though he acknowledged he didn’t “know it all.”
Following Republicans Vivek Ramaswamy and Asa Hutchinson, the U.S. lawmaker addressed the New Hampshire crowd as the third presidential candidate.
Rep. Phillips referred to cryptocurrency and said, “The two leading candidates for the U.S. Presidency right now, on both the left and the right, are absolutely not in positions to understand it, prepare us for it, anticipate it, and lead us into the next century.”
“Joe Biden and Donald Trump are just not the right people to lead us forward at their age and stage of life.” He added, “It is not irresponsible or unreasonable to think that your government would do two things at once: both consider regulations but at the same time consider how transformative in a positive way it can be.”
In response, Rep. Phillips stated that he had never personally invested in digital assets such as Bitcoin or nonfungible tokens (NFTs), adding that any such holdings he might have would be through a blind trust and citing potential conflicts of interest due to his position as a legislator.
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