- The director of the Blockchain Association shared the steps the organization took regarding a crypto presidential order six months ago.
- It focused on the Treasury Department, Office of Science and Technology Policy (OSTP), and Commerce Department.
- Director Smith believes regulation is underway, having been on the front lines trying to guide it in the most pro-crypto way possible.
Kristin Smith, the executive director of Blockchain Association, shared the steps the association took regarding a presidential directive six months ago.
Earlier on March 9, 2022, President Joe Biden of the United States announced an executive order to “ensure responsible development of digital assets,” giving major federal agencies 180 days to work on reports on how they see the future of the crypto ecosystem.
Notably, the deadline was set on September 5. In a ten-part tweet yesterday, Smith said the association focused on three areas to guide the government’s thinking. They included the Treasury Department, Office of Science and Technology Policy (OSTP), and Commerce Department.
Regarding OSTP and mining activities, they argued that while it “uses a meaningful amount of energy, it also contributes in a big way to the shift to renewables in the US,” adding that it was better to think about how crypto can be part of the solution rather than focus on the problem.
In the aspect of commerce, the report said the association focused on strengthening US competitiveness in the digital asset economy while highlighting that “crypto has handed the country a 100-year cheat code to maintain our global lead in financial technology.”
Director Smith also expressed conviction that regulation is underway, having been on the front lines “trying to guide it in the most pro-crypto way possible.”
We don’t know exactly where the fed govt will land on these issues, but I’m bullish that we have gotten to the point where the administration felt the need to start a big govt-wide project like this to better understand how to turbocharge the ecosystem.
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