In a blog post from January 26th, OSTP said that public opinion on the topic will be crucial in identifying vital emphasis areas in studying and promoting cryptocurrencies.
The organization working on the policy for the Fast Track Action Committee (FTAC) has said that the March 23rd deadline for the submission of an opinion should centre on cryptocurrencies and associated aspects including blockchain, distributed ledgers, decentralized finance (DeFi), and smart contracts.
The Office of Strategic and Policy Planning has stated its intention to do an extensive study on cryptocurrency-related cybersecurity and privacy issues and has also said that it is interested in hearing the public’s perspective on the matter.
“OSTP wants answers that might influence the complete scope of Federal R&D goals related to digital assets, including R&D activities that could complement the Federal Reserve’s CBDC-related research and experimentation,” the agency stated.
“Digital assets have attracted attention in a variety of use cases that might contribute to economic growth, give social benefits, and promote fairness and inclusion. …> The Federal Government should assist guarantee that the potential of digital assets is realized in areas where they generate value, while also taking efforts to ensure that this potential is fulfilled with the proper safeguards, according to the OSTP.
It is important to note that the White House’s new request comes after it commissioned federal agencies to lead the study and development of cryptocurrencies. Several agencies have offered their perspectives on the development of a crypto stage in this section.
Despite this progress, the White House has maintained its scepticism over digital assets, citing the significant danger they offer. This occurs while the United States is making strides in additional elements of crypto rules. Notably, politicians have also introduced a number of crypto-related regulatory proposals.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.