1. United States
2. Pa.
3. Letter

This proposed legislation fails to include adequate protections and oversight, jeopardizing the stability of our traditional banking system. Folding cryptocurrencies directly into the banking sector heightens the risk of insolvency for traditional financial institutions in the event of a cryptocurrency market crash. Additionally, the lack of measures to prevent the misuse of digital currencies for bribery and corruption raises serious concerns. Safeguarding the integrity and resilience of our financial system should be the top priority. I urge you to carefully consider these significant flaws and potential consequences, and oppose this bill to avert substantial harm to our economy and society.