The White House just released "The Administration's Roadmap to Mitigate Cryptoc

The White House just released "The Administration's Roadmap to Mitigate Cryptocurrencies' Risks"



Here are a couple key highlights I took away...



"As an administration, our focus is on continuing to ensure that cryptocurrencies cannot undermine financial stability, to protect investors, and to hold bad actors accountable."



"experts across the administration have laid out the first-ever framework for developing digital assets in a safe, responsible way while addressing the risks they pose. To be sure, the technologies powering cryptocurrencies may offer ways to make payments faster, cheaper, and safer. "



This next one 100%... This should have happened yesterday!



"Congress, too, needs to step up its efforts. For example, Congress should expand regulators’ powers to prevent misuses of customers’ assets—which hurt investors and distort prices—and to mitigate conflicts of interest."



"Legislation should not greenlight mainstream institutions, like pension funds, to dive headlong into cryptocurrency markets. "



This part was a little reassuring...



"It would be a grave mistake to enact legislation that reverses course and deepens the ties between cryptocurrencies and the broader financial system."



Then it ends with...



"The Administration wholeheartedly supports responsible technological innovations that make financial services cheaper, faster, safer, and more accessible. Yet to realize these benefits, new technologies need commensurate safeguards. Safeguards will ensure that new technologies are secure and beneficial to all—and that the new digital economy works for the many, not just the few. To put the right safeguards in place, we will keep driving forward the digital-assets framework we’ve developed, while working with Congress to achieve these goals."



Not sure if this is a good thing or a bad thing. Looks like they want to take a practical and sensible approach. I truly hope they do. I don't have much confidence in anything they take on. Anyway, here's the link if you want to read it for yourself. Looks like regulation is coming, hopefully it will be practical and common sense regulation.



#bitcoin #cryptocurrency #SoMee #Hive





https://www.whitehouse.gov/nec/briefing-room/2023/01/27/the-administrations-roadmap-to-mitigate-cryptocurrencies-risks/
The White House just released "The Administration's Roadmap to Mitigate Cryptoc