US Congressman: Legislation delays put the US at a disadvantage in the encryption market

On June 25, US Congressman Warren Davidson said at the inaugural meeting of the newly formed Financial Technology Task Force that the US Securities and Exchange Commission (SEC) adopted a “third world approach” for encryption regulation, which would lead to corporate go away. Davidson warned that delays in legislation are putting the US at a competitive disadvantage in the rapidly growing encryption market. So the SEC is best to wake up, otherwise the US will be left behind.