U.S. agencies have been busy since President Biden’s March 9 Executive Order (EO) on crypto and the digital assets industries. On September 16, the White House released a statement containing a framework and policies recommended by the various agencies. According to the report, 16% of adult Americans have purchased digital assets, and the global market cap is already around $3 trillion. The demand is there, but is it safe enough?
The focus was on six key priorities, with emphasis on protecting people and businesses with investments in crypto and other digital assets and on fighting crimes in the crypto market. Continued evaluation is required, so the Federal Reserve, the National Economic Council, the National Security Council, the Office of Science and Technology Policy, and the Treasury Department are scheduled to meet frequently to discuss and share updates on CDBC and other payment solutions. Stay tuned!