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The House Financial Services Committee asserts that the FIT21 Act is "an important step towards achieving regulatory clarity for digital assets", with intent to offer strong consumer safeguards and the regulatory clarity that is necessary for the digital asset industry in the United States to prosper. [1]
Executive Order 14067, officially titled Ensuring Responsible Development of Digital Assets, was signed on March 9, 2022, and is the 83rd executive order signed by U.S. President Joe Biden. The ultimate aim of the order is to develop digital assets in a responsible manner. [ 1 ]
The Crypto-Asset Reporting Framework (commonly referred to as CARF) is a global initiative led by the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes which is intended to promoted the automatic exchange of information between countries to tackle emerging tax evasion risks related to cryptocurrency and digital assets.
Wally Adeyemo, deputy secretary of the U.S. Treasury joins Consensus 2022 to discuss the state and outlook for regulation and policy of digital assets. Moderator: Nik De, CoinDesk managing editor ...
In the absence of federal action, states are leading the way on oversight—including new legislation out of California.
Markets in Crypto-Assets (MiCA or MiCAR) is a regulation in European Union (EU) law. It is intended to help streamline the adoption of blockchain and distributed ledger technology (DLT) as part of virtual asset regulation in the EU , while protecting users and investors.
The executive order included all digital assets, but cryptocurrencies posed both the greatest security risks and potential economic benefits. Though this might not address all of the challenges in crypto industry, it was a significant milestone in the US cryptocurrency regulation history. [169]
[4] Although, electronic payment systems have been part of American life since at least 1871 when Western Union "introduced money transfer" through the telegraph [5] and in 1914 "introduced the first consumer charge-card", virtual currencies differ from these digital payment structures because unlike traditional digital transfers of value ...