11 hours ago
The Digital Chamber of Commerce has urged the US Office of Government Ethics to reconsider prohibiting national employees from holding crypto.
In a Nov. 13 letter to Acting Director Shelley Finlayson, the blockchain advocacy radical projected that the Ethics Office let national employees to ain a small, constricted magnitude of integer assets.
Under existent regulations issued successful 2022, national workers are barred from holding immoderate crypto, including stablecoins, owed to concerns implicit imaginable conflicts of interest. These rules forestall employees from participating successful authoritative matters that could interaction the worth of their crypto.
Argument for crypto holding
The Digital Chamber argued that allowing constricted crypto ownership among national unit would not make conflicts of interest.
Instead, it would align with existent policies allowing authorities employees to clasp different fiscal assets successful restricted amounts. The radical contends this attack would supply a accordant model for managing imaginable conflicts.
The Chamber besides suggested extending akin exemptions to insignificant crypto holdings would guarantee just attraction crossed assorted plus classes. This change, they believe, would springiness employees much explicit guidelines portion supporting equity successful ethical standards.
The radical emphasized that a much balanced attack to integer plus ownership would assistance national employees amended recognize the technologies they regulate. This would, successful turn, lend to a regulatory model that balances user protection, fiscal stability, and technological progress.
Call for stablecoin legislation.
This telephone for argumentation betterment aligns with the Chamber’s broader advocacy for regulatory clarity astir stablecoins. The enactment has precocious appealed to lawmakers to prioritize stablecoin legislation, citing the growing relation of stablecoins successful planetary savings and cross-border payments.
The Chamber notes that implicit 98% of stablecoins successful circulation are pegged to the US dollar. So, by supporting USD-backed stablecoins, the US tin widen its dollar dominance, summation dollar entree successful emerging markets, and reenforce nationalist information during geopolitical uncertainty.
The enactment besides noted US policymakers person a unsocial accidental to fortify the dollar’s planetary position, antagonistic imaginable risks from rival outgo systems, and solidify the US’s fiscal power connected the planetary stage.
The station Digital Chamber urges US authorities to let tiny crypto holdings for employees appeared archetypal connected CryptoSlate.
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