wordpress blog stats
Connect with us

Hi, what are you looking for?

Summary: US President Biden’s Executive Order to explore various facets of digital assets including CBDCs

The Biden administration is also exploring introducing a digital dollar.

“Advances in digital and distributed ledger technology for financial services have...profound implications for the protection of consumers, investors, and businesses, including data privacy and security; financial stability and systemic risk; crime; national security; the ability to exercise human rights; financial inclusion and equity; energy demand and climate change,” read the executive order (EO) signed by the US President Joe Biden on March 9. With this order, the US has now made its intentions clear in how it seeks to deal with cryptocurrencies and their attendant pros and cons; the order revealed that the US is going to choose a path of regulation rather than a ban. Senior White House officials informed the press that the order is not a reaction to the developments witnessed during Russia's invasion of Ukraine and had been in the works for many months before being signed on March 9. The global crypto community can collectively breathe a sigh of relief as the US’s positive outlook will go a long way in reinforcing the role of crypto as a crucial element of the global financial system. The market capitalisation of non-state digital assets touched $3 trillion in November 2021 from $14 billion in early November 2016, as per the order. https://twitter.com/finallrounder/status/1501748636572659712 Why it matters: It is one of the most significant policy directives to have come out of the US concerning the regulation of cryptocurrencies and other digital assets. The country’s lucid position will compel a lot of countries to rethink their strategy on digital assets…

Please subscribe/login to read the full story.
Written By

I cover several beats such as Crypto, Telecom, and OTT at MediaNama. I can be found loitering at my local theatre when I am off work consuming movies by the dozen.

Free Reads

News

In its submission, the Interior Ministry said the decision to impose a ban was "made in the interest of upholding national security, maintaining public...

News

Among other things, the security requirements include data encryption and regular review and updated access permissions to reflect personnel changes.

News

the NTIA had earlier sought comments on the risks, benefits, and potential policy related to dual-use foundation models for which the model weights are widely...

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

NPCI CEO Dilip Asbe recently said that what is not written in regulations is a no-go for fintech entities. But following this advice could...

News

Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...

News

The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...

News

Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...

News

Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ