Senator Cory Booker discussed the potential economic benefits of bitcoin on Thursday. His remarks were in response to President Joe Biden’s executive action on cryptocurrency regulation.

Senator Cory Booker sees cryptocurrency as “an innovative development that could lead to growth in the American economy if properly nurtured and regulated.”. senator from New Jersey is encouraged by President Biden’s executive order on crypto regulation. 

“As the order notes, the U.S. has taken a position as a leader in this rapidly developing field, and we need to make sure we keep it,” Senator Booker went on. The administration’s readiness to take on this task and focus on Web3’s revolutionary power is reassuring.

Senator Booker went on to stress the necessity of investor protection. “Their protection as consumers must be prioritized alongside fostering innovation to keep America competitive on the global stage,” he opined. Investor protection is one of President Biden’s primary goals in his crypto executive order, which states: “We must take strong steps to reduce the risk that digital assets can pose to consumers, investors, and business protection.”

Many in the crypto industry welcomed Biden’s crypto executive order. “The message I take from this executive order is that the federal government sees cryptocurrencies as a legitimate, serious, and important part of the economy and society,” Booker added. 

Cryptocurrency is a promising innovation that could bring growth to the American economy if adequately nurtured and regulated.