Global | The US considers the challenges and potential of cryptoassets

Summary

With the aim of advancing the regulation and orderly development of the use of cryptoassets, President Biden has asked various federal agencies to study those markets in order to ensure comprehensive and coordinated action.

Key points

• Key points:
• The statement refers to a number of risks that would need to be eradicated or mitigated (such as possible harm to consumers and investors, financial destabilization or the facilitation of money laundering).
• At the same time it recognizes the potential that these types of assets offer (such as financial inclusion, innovation and increased competition).
• Biden has also requested an analysis of the digital dollar. So far, 40 countries are developing, or have already implemented, digital versions of their currencies, with a further 40 looking at doing so (including the European Union).

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