After six months of research into the cryptocurrency industry, the White House on Friday published its first-ever comprehensive framework for the responsible development of digital assets that outlined the findings and suggestions of multiple government departments.
On March 9, 2021, U.S. President Joe Biden signed the Executive Order (EO) on Ensuring Responsible Development of Digital Assets, directing the government to study cryptocurrency.
The resulting report did not establish any new laws but gave a clearer picture of how crypto regulations in the U.S. will be handled.
The new framework claimed to reflect "the input and experience of numerous stakeholders across government, business, academia, and civil society" and was based on research from nine studies presented to the president since his order.
The stakeholders had a wide range of concerns and their proposals go beyond the obvious (such as consumer rights, the environment and national security) to solidify the U.S.'s position as a worldwide leader in crypto by fostering private-sector innovation and global cooperation.
Sections of the framework include "Protecting …