The future direction of cryptocurrency from the White House executive order
The White House executive order on January 23 has a far-reaching impact on the development of cryptocurrency in the United States. The order supports the digital asset industry, protects citizens and the private sector's use of blockchain networks, ensures fair access to banking services, lays a solid foundation for the development of cryptocurrency, stimulates innovation, and expands the market size.
At the regulatory level, technology-neutral regulations and emerging technology frameworks provide clear rules for the market, reduce uncertainty, attract traditional financial institutions and investors, and promote market specialization and standardization.
However, although the ban on central bank digital currencies (CBDCs) limits the opportunities for the integration of cryptocurrencies and traditional finance, it also prompts the industry to focus on its own technological innovation and market expansion. The President's Digital Asset Market Working Group will improve regulatory legislation. Overall, with policy support and clear supervision, cryptocurrencies are expected to be integrated into the global financial system, but they need to deal with the impact of the ban and explore sustainable development paths.
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