United States of America: Adopted Biden Administration's Roadmap to Mitigate Cryptocurrencies' Risks

On 27 January 2023, the White House released a statement on the Biden Administration’s Roadmap to Mitigate Cryptocurrencies’ Risks. The Roadmap describes the Administration's initiatives in relation to cryptocurrency regulation and identifies regulatory priorities for government agencies and Congress. The first element of the Roadmap draws on the Administartion's framework for responsible development of digital assets, which identified clear risks in relation to financial regulation, consumer protection, and cybersecurity. Secondly, the Roadmap calls for continued enforcement, guidance, and public awareness campaigns by government agencies and outlines a number of possible legislative routes, including expanding regulators’ powers, impose transparency and disclosure requirements, and strengthening law enforcement capacities.