Date
Mar 9, 2022
What I don't like about the executive order:
- I am not sure why there needed to be an executive order to tell all the agencies to do their jobs and play nice with each other
What I like about the executive order:
- It differentiates cryptocurrencies from broader digital assets and the underlying technology
- An outright ban is off the table which gives entrepreneurs and investors more confidence to build in the US instead of moving offshore
- It acknowledges how 40 million Americans are users and this is an important issue for the voters
- It is the first time a president has acknowledged that we are losing the race in a critical technology
- The White House wants to be involved in implementing the technology in a central bank digital currency instead of just passing regulations for the private sector to build everything
The executive order is just the first step in the right direction. But it does reaffirm our belief that blockchain regulation will only introduce new forms and registration requirements. Not some outright ban of a technology with massive and positive potential