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The white house leadership order and the u.s. government strategy on digital assets—a thought thread; Tldr = it is a decisive moment for cryptography, digital assets, and web3, as in 1996-1997, the whole of government woke up to the commercial internet. (1/7)—The ceo and cofounder of the usdc circle issuer delivered a thread on the issue, say that this is a "turning point for cryptography" while also comparing the order as the government woke up to the commercial internet in 1996 and 1997.. It explains how industry can strengthen us, and its citizens, the need for mitigating risks, and some critical issues that regulators need to work on.
He talks about how industry can strengthen the us, and its citizens, the need for mitigating risks, and some critical issues that regulators need to work on.
Decree of President Biden on cryptocurrencies. It turns out the market reacted very well to the news.
The document recognizes the growth of cryptocurrencies over the past few years and also outlines how it can benefit US authorities and the country’s citizens.
Increased digital assets create an opportunity to strengthen American leadership in the global financial system and at the tech frontier.
Also has important impacts on consumer protection, financial stability, national security and climate risks.
Also has important impacts on consumer protection, financial stability, national security and climate risks.
First and foremost, the paper says the us 'must maintain technological leadership in this fast-growing space, supporting innovation while mitigating risks to consumers, businesses, the entire financial system, and climate."
The six key priorities that the national policy should focus on are: "consumer and investor protection, financial stability, illicit finance, our leadership in the global financial system and economic competitiveness, financial inclusion, and responsible innovation." we central bank digital currency?
In addition to everything above, the document also offers the opportunity for us to explore a central bank digital money (cbdc), recognizing that over 100 countries have already taken action. The order directs the Government of Canada to assess the technology infrastructure and capacity requirements of a potential CBDC in a manner that protects the interests of Americans.
The college also encourages the federal reserve to continue its research, development and assessment efforts for a CBDC.
The order also encourages the Federal Reserve to continue its research, development, and assessment efforts for a US CBDC.
The broader cryptocurrency market responded very favorably to the news and gained upwards of $130 billion in a matter of hours.
Commenting on the matter was also Gabor Gurbacs, Director at VanEck, who summarized the document:
The wider cryptocurrency market responded very favourably to the news and earned more than 130 billion dollars in a few hours. Commentary on the issue was also gabor gurbacs, vaneck stage director, it also aims to support innovation and strategic leadership in promoting the national interest. – It largely promotes research and monitoring, but also aims to support innovation and policy leadership to advance the national interest.
Strong positive for industry. – the CEO and Co-Founder of USDC issuer Circle delivered a thread on the matter, saying that this is a “watershed moment for crypto” while also comparing the order to when the government woke up to the commercial internet back in 1996 and 1997.
White House Exec Order and U.S. Government Strategy for Digital Assets — a thread with thoughts; TLDR = this is a watershed moment for crypto, digital assets, and Web 3, akin to the 1996/1997 whole of government wakeup to the commercial internet. (1/7)
— Jeremy Allaire (@jerallaire) March 9, 2022
