2 years ago
The Biden medication is reportedly drafting a government-wide cryptocurrency strategy arsenic an enforcement order. The directive is expected to beryllium presented to President Joe Biden successful the coming weeks. The strategy could beryllium released arsenic soon arsenic adjacent month.
US Government-Wide Crypto Strategy
The Biden medication is reportedly preparing to merchandise an archetypal government-wide strategy connected integer assets, including cryptocurrencies. The strategy is being drafted arsenic an enforcement order, Bloomberg reported Friday, citing radical acquainted with the matter, who revealed that elder medication officials person held aggregate meetings connected the plan.
The finalized enforcement bid is expected to beryllium connected President Joe Biden’s table successful the coming weeks, the work conveyed, adding that the strategy could beryllium released arsenic soon arsenic adjacent month.
The directive volition item economic, regulatory, and nationalist information challenges posed by cryptocurrencies. It volition nonstop assorted national agencies to measurement successful with their assessments of crypto’s risks and opportunities. They volition beryllium asked to taxable reports of their findings successful the 2nd fractional of 2022.
For example, the Financial Stability Oversight Council volition measure the imaginable systemic impacts of integer assets. Another study volition find illicit uses of cryptocurrencies.
The Biden medication is besides expected to measurement successful connected the imaginable of the Fed issuing a cardinal slope integer currency (CBDC). On Thursday, the Federal Reserve issued a long-awaited study connected CBDC and opened a nationalist remark play until May 20.
Some radical person voiced concerns that the U.S. is falling down different countries, peculiarly China, successful its improvement of a cardinal slope integer currency. However, Federal Reserve Chairman Jerome Powell has insisted that the U.S. is not falling down and the U.S. dollar’s presumption arsenic the world’s reserve currency is not astatine risk.
What bash you deliberation astir the Biden medication drafting a government-wide crypto strategy? Let america cognize successful the comments conception below.
Kevin Helms
A pupil of Austrian Economics, Kevin recovered Bitcoin successful 2011 and has been an evangelist ever since. His interests prevarication successful Bitcoin security, open-source systems, web effects and the intersection betwixt economics and cryptography.
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