- For the past few years, the government of the United States and other countries all over the world, has not been very responsive and friendly to crypto technology.
- Talking about Bitcoin, it has experienced opposition for many years from the time it came into the market back in 2009. But now, the situation is changing.
For a specific time period, the crypto world has begged governments to make a proper regulatory plan to manage the developing economic world. But, various governments along with the US government have not been very imminent on this matter.
Now, it seems like the Biden government is eager to change that. That government has issued the newest regulatory structure for the growth of digital assets, and that is massive for the crypto space that has experienced reception and adequacy from governments for a very long time.
White House might press for a CBDC
This step could clear the path for the Biden government to initiate a threshold for growing a US-based Central Bank Digital Currency (CBDC). From this step, the US will connect several different countries such as China that have made those currencies.
In fact, this will fix the position of crypto and blockchain technology as a fantastic transformation in the tech sector and enhance the acknowledgement of the whole crypto ecosystem all over the world. According to the plan, a rise in crypto acknowledgement will eventually lift the crypto prices.
This activity will be immensely pleasing, specially at the time when the market is battling to hold floating amidst the emerging economic downturn and fiat expansion.
Source: https://www.thecoinrepublic.com/2022/09/18/white-house-receiving-speedily-pro-crypto-shows-support-for-a-cbdc/