Media: White House to present cryptocurrency regulation framework in February

The Biden administration is set to unveil a whole-of-government strategy on digital assets in February 2022. Bloomberg reports.

According to officials cited, federal agencies will be tasked with assessing the risks and opportunities presented by cryptocurrencies.

The administration’s senior officials reportedly held several meetings about the forthcoming executive order, which will be presented to Biden in the coming weeks.

According to Bloomberg, the document lays out in detail the economic, regulatory and national-security issues tied to digital assets.

Sources said the White House may refrain from a firm stance on a national digital currency (CBDC), as on January 21 the U.S. Federal Reserve presented a report on the findings of the CBDC study and opened public discussions until May 20.

In December 2021 Bloomberg reported that in 2022 U.S. Senator Cynthia Lummis would introduce legislation intended to provide clarity on cryptocurrency regulation.

The document is described as “comprehensive”. It is to include a broad set of issues — from taxation to consumer protection.

Earlier in January 2022, the U.S. Securities and Exchange Commission pledged to strengthen oversight of cryptocurrency exchanges as part of a crackdown on digital assets.

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