President Biden signed an executive order on Wednesday calling on the government to examine the risks and benefits of cryptocurrencies including the potential for a U.S. central bank digital currency (CBDC). The measures focus on six key areas: consumer protection, financial stability, illicit activity, U.S. competitiveness, financial inclusion, and responsible innovation.
Unified, unambiguous U.S. crypto policies are the key to unlocking the full potential of Web3, DeFi, and related technologies. This is a step in the right direction. The White House put out a fact sheet that outlines the “First Whole-of-Government Strategy to Protect Consumers, Financial Stability, National Security, and Address Climate Risks.” It’s worth the read.
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About Shelly Palmer
Shelly Palmer is the Professor of Advanced Media in Residence at Syracuse University’s S.I. Newhouse School of Public Communications and CEO of The Palmer Group, a consulting practice that helps Fortune 500 companies with AI strategy, implementation and governance, as well as technology, media and marketing. Named one of LinkedIn’s Top Voices in Technology, he is a bestselling author, covers tech and business for Fox 5’s Good Day New York, is a regular commentator on CNN, and writes the popular daily business blog Think About This. Follow @shellypalmer or visit shellypalmer.com.