Sunday, May 28, 2023

Biden Unveils His Proposed Regulation for Bitcoin and Cryptocurrencies

According to the White House website, US President Joe Biden proposed “the first comprehensive framework for the responsible development of digital assets” based on recommendations from government agencies.

the government of The United States Recognizes That Bitcoin (BTC) and Cryptocurrencies Present Potential Opportunities To “strengthen that country’s leadership in the global financial system”, but on the other hand recognizes that “they present real risks”, says the publication today 16 September.

In this sense, the first point of the proposal focuses on consumer and investor protection. there Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) are called. To take more “aggressive” enforcement action against illegal practices in the digital asset space.

The report encourages agencies to issue guidance and regulations to address existing and emerging risks in the digital asset ecosystem. However, it does not specify which agency will be in charge of implementing the rules framed for the purpose.

The proposed motion comes from an executive order issued by Biden last March. there from orOrdered the country’s federal agencies to evaluate the risks and opportunities cryptocurrencies represent For the national security of the United States, as reported by Cryptonoticious.

World Nation News Desk
World Nation News Desk
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