West Chester, OH, May 4, 2018 — Today, Team 10XTS met with Congessman Warren Davidson to discuss the current state of legislation in the United States regarding blockchain, initial coin offerings, cryptocurrency, fintech, and startup innovation. Representing 10XTS was Michael Hiles, 10XTS CEO, Robert Slater, 10XTS COO, and Robert Shaffer, Chief Legal Counsel (Wood & Lamping).
Davidson serves on the Committee for Financial Services, which is leading the effort to establish a path towards blockchain regulation in the House of Representatives. He has been tasked with leading the draft of new legislation covering crypto currency, initial coin offerings, blockchain token trading, and other regulatory aspects of the nascent industry.
Expressing his belief in a sensible approach towards any new regulation, Representative Davidson hopes to find a balance to enable innovation and fintech to flourish while still protecting investors from fraudulent actors. His goal is to get the law done as a bipartisan effort during the current Congressional session so as to remove suppressing uncertainty as quickly as possible for the blockchain industry. This will allow U.S.-based innovation to move forward in a competitive fashion with the rest of the world.
Congressman Davidson extended the invitation to 10XTS to participate in the drafting of the new, forthcoming House Bill by attending working sessions in D.C. as subject matter experts. The 10XTS team will be providing input into the impact on various aspects of proposed legislation and ensuring startup fintech companies are represented while the new laws are being contemplated.
The 10XTS team is excited and honored to be extended this opportunity to influence public policy, and be a part of opening doors for innovation in America.
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