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


The Biden Administration is asking the public how they feel about digital assets and blockchain technology as a means to shape upcoming crypto policies.

in a new government documentThe White House Office of Science and Technology Policy (OSTP) is asking for the public’s help in identifying key areas of the crypto industry that need more research and development.

“He [OSTP] solicits public comments to help identify priorities for research and development related to digital assets, including various underlying technologies such as blockchain, distributed ledgers, decentralized finance, smart contracts, and related topics such as cybersecurity and privacy (eg, cryptographic bases and quantum resistance), programmability and sustainability in relation to digital assets”.

In the document, the White House also asks the public what sectors of the market they believe virtual assets are harming.

“Information on targets, sectors or applications where digital assets may present risks or harm, and examples of where risks or harm are already manifesting…

Where appropriate, respondents are encouraged to justify how digital assets are introducing new risk or harm in advancing the underlying target, sector, or application compared to using traditional databases or other technologies.”

The White House goes on to note that it is currently exploring the possibility of creating a central bank digital currency (CDBC), or a crypto asset backed by a nation’s Central Bank, adding that it also wants to know what the public thinks of a CDBC of USA

“In the public sector, the United States is exploring whether a CBDC could provide a trusted infrastructure to facilitate transactions in a highly digitized world…

Respondents are encouraged, where appropriate, to describe how it was discussed [research and development] The theme could be useful in helping a potential US CBDC system align with policy goals for a US CBDC system.”

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