Crypto Regulatory Framework

PIC OF BITCOIN COIN AND TWO FIGERS WITH TWO PICAXES

All You Should Know About the Release of White House First Crypto Regulatory Framework

Meta Description:  The White House has released its first crypto regulatory framework, highlighted the need to regulate primary goals, and shed light on the government’s plans.

 

According to the resources, the White House has indicated that it wants to save consumers and fight against financial crimes, and want to launch a digital dollar. Therefore, it took the initiative to help the consumers and contribute to digital assets.

White House First Crypto Regulatory Framework

The government of the United States has finally taken considerable notice to enhance its regulatory oversight of the digital asset space. Therefore, the White House released the first crypto regulatory framework on 16 September 2022, focusing on the key factors of the crypto space- the Biden administration wanted to take care of.

This move of the United States government was followed by the executive order of President Biden on “Ensuring Responsible Development of Digital Assets,” -signed earlier in March.

Furthermore, according to the sources from the White House, a detailed statement was released on how several government agencies had come forward and would seek to oversee the digital asset space growth with a defined focus on primary goals. The statement further explained how these implementations would help achieve the objectives in the future.

The primary goals are briefly discussed as follows:

1. Protecting Business and Consumers

Citing price volatility and crypto scams, the White House inscribed the risks of digital assets. The statement encouraged the authorities and regulatory parties to aggressively pursue enforcement actions and investigations against unlawful activities in the digital assets space.

Subsequently, it is also said that government authorities should work hand to explain the consumer risks and publish clear rules and guidance to educate the related people in the industry.

vee999999

vee999999

Leave a Reply

Your email address will not be published. Required fields are marked *