The crypto space in the United States has witnessed tremendous growth, and this has not gone without notice from the government.
President Biden on Wednesday, March 9, 2022, signed an Executive Order outlining the government’s approach to the development and usage of digital assets, including cryptocurrencies, in the United States. The Executive Order “lays out a national policy for digital assets across six key priorities: consumer and investor protection; financial stability; illicit finance; U.S. leadership in the global financial system and economic competitiveness; financial inclusion; and responsible innovation.”
As part of the Order, regulatory authorities in the United States, such as the Department of the Treasury, are directed to analyze the risks associated with these digital assets and develop strategies to protect different stakeholders in the field, including “U.S. Consumers, Investors, and Businesses.”
Another crucial aspect of the Executive Order emphasized the need for regulatory agencies to “mitigate the illicit finance and national security risks posed by the illicit use of digital assets.” Biden requested that every relevant government agency work to mitigate these risks.
The U.S. will also collaborate with its allies to mitigate the costs associated with the use of digital assets. A goal of the Executive Order is to ensure that the United States maintains its leadership position in technology and the global financial system.
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