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TL;DR: As other countries embrace crypto, the U.S. must enact smart crypto policy to fortify our national security. Without renewed ambition and commitment to U.S. technological leadership, our place as a global leader is at risk. Policymakers considering crypto should heed the lessons learned from our failure to embrace semiconductors as a critical technology.

Crypto is the technological innovation that will usher in the next generation of transformational change in the financial system. Major use bases abound: 

While the use cases for crypto and blockchain are becoming more advanced and varied than they have ever been, the U.S’ regulatory approach to the technology is causing it to lag behind in adoption relative to other countries around the world. This is something that all policymakers who care about national security should pay attention to. As explained in last week’s series on crypto and national security, the U.S. has regularly leveraged technology to advance our national standing. But, at times, it has also dropped the ball and failed to embrace technologies that have become critical.
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