The White House has proposed a comprehensive framework for cryptocurrency regulation to support a burgeoning 'new American Golden Age.' The report recommends legislative measures to clarify the classification of crypto assets and embraces decentralized finance. Regulatory sandboxes are suggested to expedite innovative financial products, and reform is encouraged to permit banks to handle crypto assets without discrimination. The administration asserts that blockchain technologies can revolutionize the financial landscape, emphasizing the need for supportive policies for American entrepreneurs capitalizing on these advancements.
The White House plan emphasizes creating a legal framework for cryptocurrency, recommending Congress resolves crypto asset classification and implements regulatory sandboxes to support innovation.
The report argues that digital assets and blockchain technologies can transform America's financial system and ownership governance, advocating for clear policies that support entrepreneurs.
To foster innovation, the White House suggests allowing banks to engage with crypto assets and preventing discrimination against crypto businesses by regulators.
The regulatory framework proposed aims to balance consumer protection with the growth of the crypto industry, fostering an environment beneficial to American innovation.
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