White House: Taking Action to Reduce the Potential Hazards of Crypto Trading
- The White House Recently released a document that details the strategies which could be implemented to lower the risks associated with digital currencies.
- President Joe Biden’s Administration is eager to collaborate with Congress in order to create protective laws.
- The White House emphasizes that crypto assets should not be made accessible to major institutions, such as pension funds.
The US White House issued a statement on January 27, which outlines the steps which can be taken to achieve this goal. The government of President Joe Biden is committed to working with Congress in order to implement safety measures. Much of the report was specifically addressed to Congress.
The authors of the document highlighted the critical problems that have troubled crypto trading, plus the collapse of LUNA/FTX. They stated:
For the last year, we have been looking into the possible dangers of digital currencies, and attempting to minimize them using the power of the Executive Branch.
The document highlighted that the current administration endorses responsible technological advances which make financial services more economical, quicker, more secure, and more accessible. This includes cryptocurrencies. Nonetheless, the administration believes that these new technologies require appropriate safeguards to ensure that they are secure and workable.
The White House also expressed its commitment to working with Congress…
The White House announcement: Taking Measures to Lower Crypto Market Risks first appeared on Coin Edition.
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