Guest Column: South Carolina’s ability to lead to digital assets – Fitsnews

“This is more than a simple trend – it is a fundamental change in the way people watch and use this technology.”

With Donald Trump Returning to the office, the digital assets industry is ready for exponential growth in the coming years. As chairman of the Senate Bank Committee, Senator Tim Scott has created the first of its kind subcommittee on digital assets, emphasizing the role of industry in our national economy. South Carolina seems to have an unprecedented opportunity to form the future of federal financial regulation – but it is equally important to establish a clear and supportive regulatory framework for state -level digital assets.

Countries like Wyoming and Texas have already shown that promoting the pro-digital asset environment creates jobs, attracts investment and stimulate economic growth. With several bills that are already being considered in the current legislative session in South Carolina, now is the moment for bold action to position our country as a leader in the digital economy.

The distributed LEDGER technologies that are required to provide a protective and transparent way to check the digital transactions with assets give people more control over their money without the need for intermediaries. Consumer demand for these technologies continues to increase, driven by a desire for financial freedom, more transaction costs and broader access to financial services. This is more than a simple trend – it is a fundamental change in the way people watch and use this technology.

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The economic benefits of the book technology are already important to South Carolina. Investments in data centers for bitcoin and start -ups related to digital assets $ 254 million and $ 385 millionAccordingly, to the state. Investments such as these make the path for high -paying technological jobs, opportunities for qualified workers and new tax revenue streams that support local schools, infrastructure and public services.

As with most emerging industries, significant progress has already been made without the participation of the state. However, as stated earlier, the landscape has shifted and now it is crucial to establish a regulatory framework to increase our progress to the next level. The thought of industry leaders and operators should continue to be available to help legislators and regulators understand the space and make recommendations.

It is time to apply cautious songs that protect both users and operators in this space. The delay in actions further exposes the position of South Carolina as a leader in this newly emerging industry at risk – and frankly, we cannot afford to miss this critical opportunity.

For the author …

Patrick idolgo Currently manages a hedge fund focused on the extraction of Bitcoin with clean energy and is based on Sumter, South Carolina. He is a consumer, investor and operator in the technological space of the distributed book since 2016. In addition to being an adviser on Sceta, he is the financial officer of a bitcoin mining company focused and the financial officer for a digital currency software company at Central Bank for Central Bank for Digital Currency Currency Company for Central Bank for Central Bank for Digital Currency Company for digital currency of the Central Bank for Digital Currency Company of the Central Bank of Central Bank of Central Bank of Central Bank Bank of Central Bank of Central Bank Company.

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