The White House presented last Friday the concept of regulation of the cryptocurrency sector.
US President Joe Biden had previously issued an executive order directing federal agencies to coordinate efforts to oversee the sector.
According to the press release, the government agencies called for an investigation focused on user privacy and protection, energy consumption, and the benefits and risks of central bank digital currencies (CBDCs).
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The White House has already received a number of reports, including from the Treasury Department, the Office of Science and Technology Policy, the Department of Justice and the Department of Commerce.
The concept includes many initiatives, including amendments to the Bank Secrecy Act, that will strengthen law enforcement practices regarding service providers related to digital assets.