The White House Plans to Release a State Strategy on Cryptos Next Month

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In February 2022, the administration of US President Joe Biden will release a nationwide strategy for cryptos, Bloomberg has reported.

According to source, the White House has instructed federal regulators to assess the risks and benefits of digital assets. Senior Biden administration officials have already held several meetings on the matter, the sources have added.

The head of the US Securities and Exchange Commission (SEC), Gary Gensler, said last week that in 2022 the agency will focus on the regulation of crypto exchanges. Gensler also hopes that trading platforms will take the initiative in this matter in the coming months.

In December 2021, Gensler called Bitcoin an offline alternative and competitor to the US banking system. The official explained about 40 years ago, the country’s banking system was completely rebuilt to combat money laundering and other threats. Bitcoin and its autonomous approach are trying to undermine this system, which is why the regulator does not support such competition, the head of the SEC noted.

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