White House Finally Releases Framework for Crypto Regulation

Source:zycrypto.com
The White House has officially released a report detailing specific regulatory measures for cryptocurrencies. This report comes as the crypto community in the United States and beyond is clamoring for a specific regulatory framework for digital assets. Recent cases of regulation have provoked these calls for the application of financial control bodies.

White House reports have put some measures in place to regulate the crypto scene.
The White House released a fact sheet on Friday addressing the nascent crypto industry on the global stage. The White House has released nine reports on cryptocurrencies following President Joe Biden's recent executive order. The reports aim to implement better protection measures for individual consumers and businesses. In addition, they address national security, financial stability, and the environmental concerns that crypto assets bring.
The report acknowledged the growing rate of cryptocurrency adoption in the U.S. The White House noted that this increase in adoption has also led to an increase in funding losses, citing Terra's collapse and the wave of insolvency that subsequently hit crypto entities. This underscores the urgency of a standard regulatory framework to protect consumers and foster innovation in the industry.