White House Urges Congress to Intensify Crypto Regulation

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The Biden administration has called on the US Congress to “intensify efforts” to oversee the digital asset market.

According to the White House:

“Our focus is on protecting the interests of investors, holding bad players accountable, and ensuring that cryptocurrencies cannot undermine financial stability.”

According to the government officials, last year they developed the concept of “safe and responsible development of digital assets.”

According to the press release, in the “coming months” the White House intends to name priority areas of research and development that will allow the technologies underlying cryptocurrencies to “protect consumers by default.”