The government has introduced a new plan for regulating digital assets, calling for more effective coordination among regulators such as the SEC and CFTC.
Roadmap for Federal Agencies
The report outlines a roadmap for federal agencies, recommending them to coordinate better and provide clarity on key issues such as registration, trading, and custody of digital assets.
Support for DeFi Innovations
The document also urges Congress to pass legislation supporting innovations in decentralized finance (DeFi) while modernizing anti-money laundering rules to address crypto-related risks.
Industry Reaction to the Initiative
Officials described the report as a potential turning point that could 'usher in the Golden Age of Crypto' if implemented. However, concerns remain about the absence of mention regarding a federal digital asset reserve, leaving analysts puzzled.
The government initiative has sparked interest in the industry, but its successful implementation depends on further cooperation and clarity in regulation.
