The White House, administration officials in President Joe Biden’s office are discussing whether guardrails on cryptocurrency can be imposed. They are looking at ways to address problems such as extortion, tax evasion and investor protections.
“The Chamber and our members have said for years that the industry needs increased regulatory clarity. Blockchain and digital currencies offer enormous opportunities to increase financial inclusion, drive technology innovation and lead clean energy initiatives,” said Perianne Boring, the founder and president of the Chamber of Digital Commerce, a D.C.-based trade association for the blockchain industry.
The WH continued weighing in, noting that the Securities and Exchange Commission Chairman Gary Gensler has directed staff at the agency to prepare for potential new rule-making and enforcement actions related to areas of the market that he perceives as harboring risk, including crypto markets. Earlier this year, Gensler called cryptocurrency rules a priority in his confirmation hearing.
