Claim $500Breaking: White House Issues First Ever Framework For Crypto Regulation
The White House on Friday released the first ever framework over what crypto regulations in the U.S might look like. This big announcement has landed amid the continuous downturn in the global digital asset market.
How crypto regulation would get affected?
As per reports, the guidelines cover way the financial service market should advance in order to make borderless transactions easier. While it also includes working on ending the frauds in the crypto space.
The newly introduced framework is made keeping the executive order issued in March. However, US president Biden called federal agencies to take a look at risks and benefits in the crypto space.
The report mentions that the new orders power the regulators like SEC and CFTC. Meanwhile, no particular watchdog has been given the authority. However, these much awaited directives have grabbed the eyeballs of both crypto and nascent asset class.
It added that the report received encourages the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC) to see complaints. This will double the efforts to monitor and act against unfair and abusive practices. This will build strong crypto regulations.
Will SEC win the regulation race?
Brain Deese, US Economic Council Director said that fresh Crypto guidelines will position the nation to lead the governance model. While the Financial Education Commission will guide public awareness. This will help the consumers to know the risks emerging in the digital asset ecosystem.
Earlier, Coingape reported that SEC Chair Gary Gensler at an event hinted that the watchdog might be shifting some powers to CFTC over crypto regulation.
Gensler gave a nod over working with congress in order to strengthen its sister watchdog. Ahead, CFTC might be regualting some cryptos like bitcoin. However, he mentioned that the SEC still needs more authority to control and build Crypto regulations.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Michael Saylor’s “Green Dots” Message Hints At Fresh Bitcoin Buying As BTC Faces $90K Wall
- Fed’s Hammack Signals No Rush to Cut Rates as January Hold Odds Near 80%
- XRP ETFs Reach $1.21B as Asset Managers See a ‘Third Path’ Beyond Bitcoin
- Nearly $50M in USDT Stolen After Address Poisoning Scam Targets Crypto Trader Wallet
- Breaking: Rep. Max Miller Unveils Crypto Tax Bill, Includes De Minimis Rules for Stablecoins
- Will Solana Price Hit $150 as Mangocueticals Partners With Cube Group on $100M SOL Treasury?
- SUI Price Forecast After Bitwise Filed for SUI ETF With U.S. SEC – Is $3 Next?
- Bitcoin Price Alarming Pattern Points to a Dip to $80k as $2.7b Options Expires Today
- Dogecoin Price Prediction Points to $0.20 Rebound as Coinbase Launches Regulated DOGE Futures
- Pi Coin Price Prediction as Expert Warns Bitcoin May Hit $70k After BoJ Rate Hike
- Cardano Price Outlook: Will the NIGHT Token Demand Surge Trigger a Rebound?
