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Senator Booker: if crypto is regulated properly, it will have a high benefit for the economy

The New Jersey Senator gave such pro-crypto comments just before President Biden signed the crypto executive order. 

Cory Booker is the first black person to represent New Jersey in the U.S. Senate since October 2013. He also served as mayor of Newark from 2006 to 2013 and was on the Newark City Council from 1998 to 2002. Booker tweeted on Thursday, talking about the possible benefits of crypto to the American economy after praising Biden.

I’m heartened by the nuanced and optimistic tone of POTUS

He further tweeted that cryptocurrency is an ‘exciting’ innovation that needs to be nurtured and regulated properly to make the most out of it. He praised the efforts taken by the Biden Administration to position the  US as a ‘leader’ in the upcoming sector. 

He also pointed out in his tweets that the African-American community and the brown community in the US are exposed to crypto and that this step was essential.

The administration’s willingness to step up to this challenge and focus on the transformative power of Web3 is encouraging.

As per his opinion, prioritisation of consumers’ protection should be done while keeping innovation relevant. The executive order signed by Biden stressed investor protection as well.

“We must take strong steps to reduce the risks that digital assets could pose to consumers, investors, and business protections,” he tweeted.