White House to Present Government Policy of Crypto in February

by in Cryptocurrency News

White House regulations

The US presidential administration is going to issue an initial government strategy for the crypto industry next month, after which agencies will estimate the risks and advantages of digital assets.

Related: SEC Will Focus On Crypto Platforms Regulation in 2022

A report by Bloomberg, based on the information from people familiar with the subject, reveals that senior administration officials have held meetings on the plan to draft the executive order.

The paper would be presented to President Joe Biden in the following weeks.

Also, the people noted that the plan could be modified and take its final form later. At the same time, financial authorities of the US have been exploring the possibilities of launching a CBDC (Central Bank Digital Currency). The paper formed by Biden's administration will include views on the digital USD, too.

Recently, the Fed issued a study on the digital dollar, saying it would move forward with the work, after getting approval from Congress and the general public.

Discussions around crypto regulations are getting more intense in the US, and many expect that this year there will be clear legal infrastructure for the space.