In late January, the White House continued its whole-of-government approach to exploring cryptocurrency with the painful market lessons learned from 2022 spearheading its main priorities. The Administration published a Roadmap document to share its progress to date and to chart a path for the way forward. The White House's Roadmap highlights the Biden Administration's four pronged approach:
1) Development of the first-ever framework for developing digital assets in a safe, responsible way while addressing the risks they pose; 2) Enforcement-first approach to regulation, encouraging agencies to focus on coordinated guidance; 3) Emphasis on research and development to combat fraud and illicit finance and; 4) Exploration of the impact of Congress & additional legislation to expand regulatory authority or pose requirements to crypto organizations. This balanced comprehensive approach is designed to promote continued monetary technology innovation while creating safeguards to rid the system of individual or institutional bad actors.
Read the official press release from the White House here. #digitalcurrency #virtualcurrency #bitcoin #cryptocurrency #regulation #innovation