First Crypto Regulatory Framework Released By The White House, Here’s More About It!
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United States President Joe Biden has passed an executive order on crypto, which is called “Ensuring Responsible Development of Digital Assets.
After this, the federal agencies introduced a joint fact sheet on six principal directions for regulation in the U.S. Joe Biden’s administration has earlier lobbied for more control and increased laws on cryptocurrencies owing to the increased popularity of digital assets.
The joint fact sheet made by the federal agencies primarily adds up the content of the nine separate reports that have been provided to the President to ensure an “articulate and clear framework for responsible digital asset development and paves the way for further action at home and abroad.”
The decision to pass an order could be suggestive of the nature of cryptocurrencies, which means that high volatility is associated with digital assets.
Volatility has been one of the major concerns related to the cryptocurrency industry and that has created problems throughout the industry, as seen in new reports.
This has made the United States form and structure regulations on digital assets.
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