It is hoped that in the near future Congress will receive legislative changes that recognize cryptocurrency with a new class of properties, which provides the legal status and framework of regulation.
The Donald Trump administration urged state bodies to accelerate the reform of regulatory techniques and contribute to the integration of cryptocurrencies in all spheres of the country’s financial activity. It reports about it RBC-Ukraine In the reference published on Wednesday, July 30, the White House reported 160-page report.
Thus, the document presents a strategic plan aimed at making the participant a leading participant in the global digital asset market. It is hoped that in the near future Congress will receive legislative changes that recognize cryptocurrency with a new class of properties, ensuring the legal status and framework of regulations.
The main direction of modernization includes:
– regulation of security and goods;
– Banking sector reform;
– Updating tax policy;
– Developing insurance mechanisms;
– Strengthening cybersecurity;
– The resistance to illegal financing.
The Trump administration encourages federal institutions to act quickly to make the economy an important element of the American economy. The president himself expressed a desire to see digital assets with a sunny tool of financial activities including the US dollar, including using them on a mortgage, banking services, pension systems and tax deductions.
The factors for such a hurry are, in particular, with the interest of the President’s family. Since Donald Trump’s election in the presidency, the price of Bitcoin increased by 74%, and the Crypto industry capitalization added $ 1.57 trillion. This has become an additional incentive for making decisive steps.
The report also emphasizes the need to establish transparent game policies for the legal development of the cryptocurrency sector in the United States. Particular attention is paid to “regulation assurance”, which should ensure the confidence of entrepreneurs in the possibilities of investing and creating new services and technologies.
The administration has set an ambitious goal to make the American Digital Asset market one of the most powerful and most liquid in the world. In addition to this, back in March, the President ordered the concept of a cryptocurrency reserve, which would include properties such as XRP, Sol and ADA.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.