The White House has published the first concept of cryptocurrency regulation in the history of the United States

The White House has presented the first-ever concept of cryptocurrency regulation in the United States, which includes information on ways to develop financial services and methods to combat cryptocurrency fraud.

As it became known, the new regulatory guidelines were created in accordance with an executive order issued by Joe Biden back in March. For six months, government agencies have been working on creating recommendations that have been included in the concept of cryptocurrency regulation in the United States. The main points covered by the recommendations are:

• consumer and investor protection;
• promotion of financial stability;
• countering illicit financing;
• uS leadership in the global financial system;
• economic competitiveness;
• financial accessibility of cryptocurrencies.

According to the US President’s order, the White House paid special attention to the development of recommendations for protecting cryptocurrency investors from fraudsters. «President Biden has already launched an operational headquarters to respond to the growing threat of ransomware, including expanding cryptocurrency analysis capabilities to identify and prosecute criminal transactions,» Biden administration officials said in early August.