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Boozman, the CFTC commissioners are the first…

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Boozman, the CFTC commissioners are the first…

WASHINGTON-US Senator John Boozman (R-AR), a senior member of the US Senate Committee on Agriculture, Nutrition and Forestry, and Commodity Futures Trading Commission (CFTC) Commissioners Christy Goldsmith Romero and Summer Mersinger had a direct look at the Blockchain Center of Excellence at the University of Arkansas today while discussing a way forward to bring greater consumer protection to the crypto industry.

Boozman, who recently presented the Digital Products Consumer Protection Act 2022 to give the CFTC new tools and authorities to regulate digital products, invited Arkansas commissioners to deepen the discussion on how a mandatory framework will protect customers and markets.

“There is simply no substitute for visits like this to ensure we are making informed decisions. The Blockchain Center of Excellence and the CFTC have been important partners for my office as we worked to draft this legislation, sharing crucial information about the actual impacts of the bill. The center is truly at the forefront of digital asset research and more of our top companies are embracing the technology, positioning Arkansas as a leader in this emerging field and making it an ideal place to further this discussion,” said Boozman.

“As a sponsor of the CFTC’s Technology Advisory Board, I am delighted to join Senator Boozman at the University of Arkansas Law School’s Blockchain Center of Excellence. The Blockchain Center Continues a Public Discussion critique on the potential of blockchain technology to benefit American businesses and households,” said Commissioner Goldsmith Romero. “I am grateful to Senator Boozman for introducing me to the Blockchain Center. Senator Boozman has been a leader in working across the aisle with Senator Debbie Stabenow and other colleagues to integrate the assets digital technologies, such as Bitcoin, within a regulatory framework that emphasizes the need to protect customers, protect customer assets and close regulatory gaps.

“It was an honor to join Ranking Member Boozman for this meeting today at the Center for Blockchain Excellence at the University of Arkansas to see firsthand how they are preparing students for critical jobs in this cutting-edge industry. . At the CFTC, we saw firsthand how blockchain technology is being used in everything from commodity trading to agriculture. Ensuring a well-educated national workforce is essential to ensuring the competitiveness of the United States in the development and implementation of blockchain technology throughout our economy. Arkansans should be proud of the key leadership roles that Ranking Member Boozman and the University of Arkansas are playing in our nation’s approach to digital assets and blockchain technology” , said Commissioner Mersinger.

The Blockchain Center of Excellence was established in May 2018 within the Department of Information Systems at the Sam M. Walton College of Business at the University of Arkansas. Its mission is to establish the Sam M. Walton College of Business as a premier academic leader in the research and teaching of blockchain-enabled digital technologies and ecosystems.

“The Blockchain Center of Excellence and the University of Arkansas School of Law are thrilled to witness Senator Boozman’s work and leadership in the field of cryptography. It is a daunting task to balance the need for regulation while simultaneously encouraging technological innovation, and the Digital Products Consumer Protection Act 2022 could help close regulatory gaps without stifling business development,” said Professor Carol Goforth, member of the Blockchain Center Faculty Network and Clayton N. Little Professor of Law at the University of Arkansas School of Law.

Learn more about the Digital Products Consumer Protection Act 2022.

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