FOR IMMEDIATE RELEASE
WEST CHESTER, OH – May 4, 2018 – 10XTS, a leader in blockchain technology and fintech solutions, met with Congressman Warren Davidson (OH-8) to discuss the evolving state of legislation in the United States regarding blockchain, cryptocurrency, initial coin offerings (ICOs), and fintech innovation. Representing 10XTS were Michael Hiles, CEO, Robert Slater, COO, and Robert Shaffer, counsel. The discussion centered on the need for balanced regulation that fosters growth in the blockchain and fintech sectors while safeguarding investors from potential fraud.
Congressman Davidson, who serves on the House Financial Services Committee, is leading efforts to draft legislation to regulate the blockchain and cryptocurrency industry. He has been tasked with creating a regulatory framework for cryptocurrency, ICOs, blockchain-based tokens, and other aspects of this rapidly developing field. Recognizing the significance of these technologies for the future of finance and commerce, Davidson emphasized the importance of a bipartisan approach to establish clear, consistent guidelines for the industry.
“We need a sensible regulatory framework that protects investors without stifling innovation,” said Congressman Davidson. “By removing the current uncertainty, we can enable U.S.-based blockchain companies to compete globally and drive innovation forward.”
During the meeting, Congressman Davidson outlined his commitment to supporting a regulatory approach that allows fintech companies and blockchain innovators to thrive while addressing concerns related to fraud and investor protection. He aims to finalize this legislation within the current Congressional session to provide clarity and stability for companies operating in this emerging sector. His vision is to craft a law that not only promotes U.S. competitiveness in the global blockchain market but also ensures robust protections for investors.
In an exciting development, Congressman Davidson extended an invitation to 10XTS to participate as subject matter experts in the working sessions in Washington, D.C., where the forthcoming House Bill is being drafted. By involving 10XTS, Davidson ensures that perspectives from startup fintech companies are represented in the legislation, considering both the regulatory and operational implications for blockchain enterprises. This invitation provides 10XTS with an unprecedented opportunity to contribute directly to the future regulatory landscape of the blockchain industry in the U.S.
10XTS’s Role in Shaping Blockchain Legislation
As a company deeply invested in advancing blockchain solutions for regulatory-compliant asset tokenization and fintech applications, 10XTS is honored to contribute insights into the policy-making process. The 10XTS team will work closely with policymakers to examine the effects of proposed regulations on startups, capital markets, and the blockchain ecosystem. The objective is to create a framework that facilitates growth, encourages investment, and supports the secure and transparent trading of digital assets.
Michael Hiles, CEO of 10XTS, expressed enthusiasm for the opportunity, stating, “We’re honored to work alongside Congressman Davidson and his team in developing legislation that will set the standard for blockchain regulation. Our goal is to ensure that the voices of startups and innovators are heard so that regulation strikes a balance between protecting investors and fostering innovation.”
The Importance of Balanced Blockchain Regulation
With billions of dollars invested in ICOs and other blockchain-based ventures, regulatory bodies like the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have ramped up efforts to address the risks and challenges posed by this new asset class. Davidson’s approach, however, underscores the potential of blockchain to drive economic growth and innovation in the U.S. By engaging industry experts, including 10XTS, Davidson aims to address the nuanced needs of blockchain companies while promoting an ecosystem that supports safe, compliant market participation.
Davidson’s legislation will cover various aspects of the blockchain and cryptocurrency industry, from ICOs to blockchain-based securities and tokenized assets. With the input of companies like 10XTS, the goal is to establish clear definitions and protections for digital assets, allowing for responsible growth and eliminating the uncertainty that currently hampers U.S.-based companies in the blockchain sector.
About 10XTS
10XTS is a blockchain technology company focused on creating secure, efficient, and compliant solutions for asset tokenization and data transparency in capital markets. By leveraging blockchain to address real-world needs for data management and regulatory compliance, 10XTS is at the forefront of innovation in fintech. The company’s flagship platform, XDEX, provides a blockchain-based ecosystem for issuing and managing tokenized securities, designed to bring greater liquidity and transparency to early-stage investments.
Media Contact
10XTS
Email: info@10xts.com
Website: www.10xts.com
