Biden’s Administration to Accelerate Preparation of Crypto Regulation – Media
According to Barron’s, the administration of US President Joe Biden will soon release an executive order directing federal agencies to analyze digital assets like cryptocurrencies, stablecoins and NFTs and prepare the appropriate regulatory framework to ensure national security interests.
The instruction will be sent to the State Department, the Treasury, the National Economic Council and the Council of Economic Advisers to ensure consistency in the actions of government agencies in relation to crypto assets. It is also possible that this act may affect the US National Security Council since due to the cross-border nature of cryptocurrency transactions, they create relevant risks.
The presidential administration will give the departments involved three to six months to prepare proposals. The White House will act as coordinator.
Earlier, the chairman of the US Securities and Exchange Commission (SEC), Gary Gensler, said that in 2022 the regulator intends to take additional measures to bring cryptocurrency exchanges into the regulated space.