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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