Comments have continued to thrill the latest position of the White House on their recently released crypto roadmap (Blueprint). Reactions started coming in after the White House’s latest statement was released on the 27th of January. The statement contains a step-by-step process by the United States government on creating preventive measures against likely risks surrounding cryptocurrency.
The statement is the president’s roadmap to achieving a proactive legislative process that addresses challenges surrounding cryptocurrency transactions. The document was carefully drafted in two phases, with each of the phases clearly stating how it plans to execute each of the projects.
In the statement released by the White House, the president revealed that they had spent a long time studying and deliberating on the cryptocurrency industry’s risk factors and have set modalities in place to tackle it squarely. They have also mentioned that the Executive Branch will play an essential role in the execution process.
Analysts say that this is the Biden’s first blueprint containing a detailed framework for developing digital assets. The first phase of the blueprint was released in Sept. 2022, and it was authorized by President Biden’s Exec. Order, which is based on the ensuring kin enhancement of digital assets project, which was released around March 2022.
The second phase talked about how executive government department are enforcing and providing new safety guidelines. The statement also explained how agencies are sensitizing the public about these programs – how the public must be cautious about the risk factors surrounding the cryptocurrency industry. This move is believed to help minimize the risk linked with buying crypto assets.
It was also stated that the statement from the president provided a list of proposed actions the Biden administration will be expecting from the US Congress.
According to the information made available to the public, the document also talked about some banking regulations provided to achieve this goal. In other news, it was understood that this document was presented the same day the Federal Reserve had turned down a membership request of Custodia Bank in the Fed Reserve System.
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