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White House Releases Regulatory Framework
For some time, the crypto industry has implored governments to formulate proper regulatory frameworks to govern the expanding economic space. However, many governments, including the US government, haven’t been very forthcoming on this front.
Now, it appears that the Biden administration in the US is keen on changing that. The administration has released the latest regulatory framework for the development of digital assets, and that huge for the industry that has faced opposition and indifference from authorities for a long time. News of the new development was broken on Twitter by a crypto analysis and reporting entity, Watcher Guru.
White House May Push For A CBDC
Basically, this move could be aimed at paving the way for the Biden administration to start a push for the development of a US-based Central Bank Digital Currency (CBDC). With this, the US would join many other countries like China that have developed such currencies.
In effect, this would cement the place of crypto and blockchain technology as a revolutionary innovation in the tech sector and boost the acceptance of the entire crypto system across the world. As expected, increased crypto acceptance would lead to more adoption and rise in demand for the coins, which would in turn push up crypto prices. This kind of dynamic would be greatly welcome, especially when the market is struggling to keep afloat amid looming economic recession and fiat inflation.
 
 
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