The US presidential administration has published a decree by Joe Biden on the regulation of digital assets


This measure is aimed at coordinating the state approach to eliminating the risks from using this type of currency, but at the same time obtaining benefits from digital assets. According to the decree, Washington agencies should provide recommendations on how to mitigate risks for consumers, depositors, businessmen, and just people associated with the growth of the digital asset sector. Regulatory authorities should provide oversight in this area.

Biden instructed the US Treasury to prepare a report following consultations with specialists from the Ministry of Justice, experts in the field of trade and homeland security, as well as the Director of National Intelligence. The administration is considering the pros and cons of CBDC, as the US seeks to maintain the central role of the dollar in the international global financial system.

The Ministry of Justice is also tasked with determining whether a new law is needed to issue a CBDC. “China may have been the first major industrialized country to launch a digital yuan CBDC, but it won’t be the last,” said Nigel Green of deVere Group.

The President gave six months to compile a report on the future of the sphere of money circulation and payment systems. It should name the conditions that stimulate the widespread distribution of digital assets, the degree of influence of technological innovations on this, and the consequences of the widespread introduction of cryptocurrency transactions for the US financial system.

The Secretary of State, the Prosecutor General, the Minister of Commerce, the Minister of Internal Security, the Director of the Office of Administration and Budget, the Director of National Intelligence and the heads of other interested departments have been appointed responsible for compiling the report.

The United States, together with its allies in Europe, is also exploring options to restrict Russia’s access to cryptocurrency, said US Deputy Secretary of State for Political Affairs Victoria Nuland. On Tuesday, March 8, she spoke at a hearing before the US Senate Foreign Relations Committee.

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