The US administration has directed federal regulators to assess the risks and benefits of Cryptocurrency
In February of this year, the administration of United State President Joe Biden will publish a nationwide strategy for Cryptocurrency , Bloomberg reports . Agency sources say the White House has instructed federal regulators to evaluate the risks and benefits of cryptocurrency . President Biden administration officials have already held several meetings on the matter, the sources added.
Last week, the head of the US Securities and Exchange Commission (SEC), Gary Gensler , said that in 2022 the agency will focus on regulating cryptocurrency exchanges. Gensler also hopes that trading platforms will take the initiative in this matter in the coming months.
In December 2021, Gensler called bitcoin an autonomous alternative and competitor to the US banking system. The official explained that about 40 years ago, the country’s banking system was completely rebuilt to combat money laundering and other threats.
Bitcoin and its autonomous approach are trying to undermine this system, so the regulator does not support such competition, the head of the SEC noted.
