Monday , November 28 2022
Home / Crypto news / Binance CEO Believes Biden’s Crypto Regulatory Framework Is Good News

Binance CEO Believes Biden’s Crypto Regulatory Framework Is Good News

Summary:
The Biden administration issued its first-ever paper on cryptocurrencies and how the asset class should be regulated within the nation on Friday. While some believe the guidelines require more clarity, Binance’s CEO asserted that the framework is a significant recognition of itself, and his company aims to work with global watchdogs. After issuing a few executive orders on digital assets in the past several months, the Biden administration took it up a notch on Friday when it released a potential framework on how to regulate the asset class. While the SEC and CFTC will continue battling to determine which of the two agencies will get the bigger pie share, the latest report touched upon crypto’s integration with the current financial system, including facilitating

Topics:
Jordan Lyanchev considers the following as important: , , , , ,

This could be interesting, too:

Felix Mollen writes Russia’s President Envisions a Global Payments System With Blockchain Technology

Jordan Lyanchev writes Investing in Bitcoin Still Makes Sense, Says Tom Lee

George Georgiev writes Bitcoin Miners’ Revenue Lowest Since November 2020

Dimitar Dzhondzhorov writes El Salvador Launches a National Bitcoin Office (ONBTC)

The Biden administration issued its first-ever paper on cryptocurrencies and how the asset class should be regulated within the nation on Friday.

While some believe the guidelines require more clarity, Binance’s CEO asserted that the framework is a significant recognition of itself, and his company aims to work with global watchdogs.

  • After issuing a few executive orders on digital assets in the past several months, the Biden administration took it up a notch on Friday when it released a potential framework on how to regulate the asset class.
  • While the SEC and CFTC will continue battling to determine which of the two agencies will get the bigger pie share, the latest report touched upon crypto’s integration with the current financial system, including facilitating borderless transactions.
  • The document also mentioned CBDCs as well as urged government agencies to find ways to reduce criminal activities involving cryptocurrencies.
  • The paper was met with contrasting opinions by the crypto community, and the latest to speak out was Binance’s CEO – Chanpeng Zhao.
  • He believes the actions of the world’s most powerful economy are a good sign for the crypto industry as “getting it right” will help “protect consumers, markets and sparkle responsible innovation.”
  • CZ also noted that his company, which faced massive backlash from several watchdogs in the past few years, will work with the US as well as other global regulators to improve the industry’s perception and adoption

You Might Also Like:

Leave a Reply

Your email address will not be published. Required fields are marked *