White Home: No Greenlight for Pension Funds to Enter Crypto Market
- White Home outlines steps to reduce the dangers of cryptocurrencies.
- The Biden administration is dedicated to working with Congress to enact protecting legal guidelines.
- The White Home believes that mainstream establishments, like pension funds, shouldn’t be allowed to enter crypto.
On January 27, the US White Home issued a press release outlining steps the administration of President Joe Biden might take to scale back the risks posed by digital currencies. A lot of the stories had been addressed to the US Congress.
The authors first highlighted the numerous failures that rocked the crypto trade, together with the collapse of LUNA and FTX. They wrote:
We’ve got spent the previous yr figuring out the dangers of cryptocurrencies and appearing to mitigate them utilizing the authorities that the Government Department has.
The paper famous that the present administration wholeheartedly helps accountable technological improvements that make monetary providers cheaper, quicker, safer, and extra accessible similar to crypto. Nonetheless, it believes such new applied sciences want commensurate safeguards to make sure they’re safe and useful.
The White Home additionally expressed its dedication to working with Congre …
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