The White House Office of Science and Technology Policy (OSTP) is currently seeking feedback from individuals and organizations as it progresses through the National Digital Assets Research and Development Agenda.
The OSTP introduced a comprehensive framework for the Responsible Development of Digital Assets and subsequently announced the National Digital Assets Research and Development Agenda in response to a presidential order.
The current notice of request for Information (RFI) document states that respondents must submit a maximum of 10-page comments before March 23.
Feedback provided by the public will enable the government to efficiently manage digital assets, as well as the growth of distributed ledger technology. As the United States is a significant leader in the implementation of blockchain and cryptocurrency, officials and financial regulators are showing immense curiosity in this industry.
Numerous financial regulators in the U.S. are currently providing guidelines for utilizing crypto-related products and services. They are ensuring that crypto entities operating within the U.S. comply with financial laws.
The Internal Revenue Service (IRS) currently classifies crypto as a taxable property, and the Securities and Exchange Commission (SEC) categorizes crypto as a security.
The Financial Crimes Enforcement Network (FinCEN) plays a prominent role in preventing and punishing crypto offenses related to money laundering and financial crimes.
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Several other government bodies, such as the Commodities Futures Trading Commission (CFTC), Federal Trade Commission (FTC), Federal Deposit Insurance Corporation FDIC, and OCC, are also providing various regulatory services.