The U.S. President's Administration has defined a government regulatory strategy that's being cryptified

The U.S. President's Administration has defined a government regulatory strategy that's being crypti

The White House published "The First Integrated Concept of Responsible Digital Asset Development", which lists the findings and recommendations of U.S. federal agencies that have studied the issue for six months.

In March of this year, the President of the United States issued a decree ordering a comprehensive study of the cryptation industry, and the decree and the concept that emerged after it do not, in fact, establish any new rules, but provide an idea of the mechanisms that will govern the country ' s cryptation market.

  • Protection of consumers, investors and businesses; Promotion of access to safe and affordable financial services; Promotion of financial stability; Promotion of responsible innovation; Strengthening global financial leadership and competitiveness; Combating illegal financing; Studying the digital currency of the U.S. Central Bank .

The document confirms the powers of regulatory authorities, including the Securities and Exchange Commission, to monitor compliance with legislation in the cryptographic industry and to receive complaints from consumers. The U.S. Ministry of Finance will play an active role in working with financial institutions: it will help identify and mitigate risks, enforce regulatory orders and work in this direction with friendly U.S. countries. By the end of February 2023, the Treasury will have completed a risk assessment of decentralized financial systems and a similar report on NFT will be prepared by July. The Presidential Administration will in turn decide whether the banking secrecy law should be extended to digital asset service providers.

Finally, the paper raises the issue of the U.S. official digital currency: the advantages of the initiative in terms of technology, economy, security and personal freedom; in practice, it is proposed that a working group be organized under the leadership of the Ministry of Finance to assess the possible impact of the issuance of an electronic dollar, as well as to share information with partners.