President Joe Biden’s administration is lobbying for more control and further laws on cryptocurrencies when digital assets are gaining popularity. The White House alluded to the volatility of cryptocurrencies and a recent decline that has led to problems throughout the crypto landscape in a series of new reports issued on Friday, September 16, regarding its first-ever framework for crypto regulation in the United States. Notably, the framework describes the methods in which the financial services sector could change to make borderless transactions more straightforward, as well as how to clamp down on fraud in the area occupied by digital assets. The new guidelines rely on existing authorities such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
White House releases firstever framework for crypto regulation in the US
