• The White House has released a roadmap to reduce the risks related to cryptocurrency.
• The Biden Administration will develop a cryptocurrency legal framework in the coming months.
• The roadmap outlines the administration’s priority to ensure that cryptocurrencies do not threaten financial stability, protect investors, and hold bad actors accountable.
The Biden Administration has recently released a roadmap to reduce the risks associated with cryptocurrency. The White House post outlines the administration’s priority to ensure that cryptocurrencies do not threaten financial stability, protect investors, and hold bad actors accountable. Furthermore, the roadmap states that the Administration has spent the past year identifying the risks of cryptocurrencies and devising ways to mitigate them using the executive branch’s authorities.
In the roadmap, experts from throughout the administration have put out a framework for creating digital assets securely and sustainably while addressing the risks they pose. The year 2022 has been a terrible year for the crypto market, with investors facing severe lows and the collapse of the LUNA/Terra, and the bankruptcy of significant corporations like FTX leading to the crypto facing bears, and despite all of this loss, many still have faith in the cryptocurrency market.
In response to this, the Biden Administration has been working on a cryptocurrency legal framework that aims to protect investors and hold bad actors accountable. The Administration will be working to create a framework for building digital assets that are secure and sustainable while addressing the risks they pose. This framework will include measures to ensure that the crypto market is not threatened by financial instability, and that investors are protected.
The framework will also include measures to ensure that cryptocurrency platforms and advocates are not perpetrating massive fraud or misleading users. Furthermore, the Administration will be working to ensure that there are no conflicts of interest, and that all disclosures are adequately made.
The Biden Administration is committed to ensuring that the crypto market is safe and secure for investors. The Administration’s roadmap and cryptocurrency legal framework are steps towards achieving this goal. Investors should feel confident that their investments are protected and that the crypto market is safe.