White House Asks for Public Comments on Crypto Assets, Blockchain Technology and Decentralized Finance

The Biden Administration is asking the general public how they really feel about digital belongings and blockchain expertise as a method of forming upcoming crypto insurance policies.

In a brand new authorities document, The White Home’s Workplace of Science and Know-how Coverage (OSTP) is asking for the general public’s assist in figuring out key areas of the crypto trade that want extra analysis and growth.

“The [OSTP] requests public feedback to assist determine priorities for analysis and growth associated to digital belongings, together with numerous underlying applied sciences similar to blockchain, distributed ledgers, decentralized finance, sensible contracts, and associated points similar to cybersecurity and privateness (e.g., cryptographic foundations and quantum resistance), programmability, and sustainability as they relate to digital belongings.”

Within the doc, The White Home additionally asks the general public which sectors of the market they imagine digital belongings are harming.

“Details about targets, sectors, or purposes the place digital belongings may introduce dangers or harms, and examples of the place dangers or harms are already being manifested…

The place related, respondents are inspired to justify how digital belongings are introducing new dangers or harms in advancing the underlying aim, sector, or utility in comparison with the usage of conventional databases or different applied sciences.”

The White Home goes on to notice that it’s presently exploring the opportunity of making a central financial institution digital foreign money (CDBC), or a crypto asset backed up by a nation’s Central Financial institution, including that it additionally desires to know what the general public thinks of a US CDBC.

“Within the public sector, the USA is exploring whether or not a CBDC might present a reliable infrastructure to facilitate transactions in a extremely digitized world…

Respondents are inspired to, the place related, describe how the mentioned [research and development] subject may very well be helpful in serving to a possible US CBDC system align with the Coverage Targets for a US CBDC System.”

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