PANews reported on October 16 that Fox Business reporter Eleanor Terrett posted on the X platform: U.S. Congressman Byron Donalds said in a conversation with Kristin Smith that the cryptocurrency industry is still in the "infant stage." He compared the crypto industry to a toddler who is beginning to learn to walk and grab things, and believed that the industry is gradually learning how to fully utilize its potential, and said that the U.S. crypto industry may become an industry of at least $500 billion in the future.
Donalds also pointed out that the Democratic leadership does not take the regulatory framework for digital assets seriously, believing that they do not support a strong regulatory solution. In addition, he called for the establishment of a regulatory sandbox for the crypto industry and said that he would make this suggestion to Trump. He emphasized that while the FIT21 legislation is a good bill, the crypto industry needs a flexible regulatory sandbox to cope with the rapid changes that may occur in the next five years. Donald also said that if Trump wins the election in November, he will be ready to reorganize the existing regulatory agencies to ensure that they focus on executing their established missions rather than arbitrarily expanding their missions through the personal wishes of the leaders.