US Moves Toward a New Era of Cryptocurrency Regulation Led by David Sacks

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by Giorgi Kostiuk

2 years ago

On February 4, the first official US press event on digital assets was held, led by the newly appointed Crypto Czar, David Sacks, announcing the Trump administration's new initiatives to support cryptocurrencies.

Pro-Crypto Policy in the US

David Sacks mentioned the president's executive order establishing a working group to develop a federal regulatory framework for digital assets. He emphasized the administration's commitment to supporting the responsible growth and use of digital assets and blockchain technology across various sectors.

The President said in his executive order in the first week that it’s the policy of his administration to support the responsible growth and use of digital assets, blockchain technology and related technologies across all sectors of the economy.David Sacks

Beginning of 'Golden Age' for Cryptocurrencies

The conference highlighted the start of a 'golden age' for cryptocurrencies, with Senator Tim Scott asserting: 'The good news is that it’s going to get better.' The administration aims to keep innovation onshore, stopping the exodus of crypto startups to other jurisdictions with clearer regulations.

Unified Approach to Cryptocurrency Regulation

A bipartisan working group has been announced, comprising House and Senate committees, aimed at eliminating regulatory uncertainty and providing clarity and fairness for businesses in the digital asset space.

This period of regulatory change in the US promises new opportunities for business and innovation as the government focuses on creating a clear and favorable legal framework.

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