Will government intervention benefit crypto investors?-PrivacySwap.Finance

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The US government is paying close attention to the cryptocurrency movement. To identify what crypto regulations are needed, the White House is now seeking the public’s comments to understand more. Will this move reduce the risks of digital assets? More importantly, how will it benefit crypto investors?

Recently, President Joe Biden signed an executive order that directs federal agencies to implement a strategy for policies and regulations on digital assets. According to experts, this order is “extremely positive” and is necessary for cryptocurrency’s longevity.

They also mentioned that this order would pave the way for widespread institutional use of cryptocurrency and other digital assets by providing legislative clarity. This might lead to more stability in the turbulent crypto market for long-term investors. After a brief rise in price upon the announcement of the injunction, both Bitcoin and Ethereum have since fallen back.

The order also asked the federal agencies to investigate any illegal financial activities.

White House asks for public comments

The website of the Federal Register released a notice last week, March 25th, seeking a public commentary. The notice mentioned that this is part of President Joe Biden’s Executive order. The Office of Science and Technology Policy mentioned that the US government is dedicated to fighting climate change no later than 2050.

In order to understand and address the risks of these assets, OSTP is inviting everybody to provide comments on such a topic. In particular, this RFI requests views on the protocols, hardware, resources, economics, and other aspects that influence the energy consumption and climate consequences of all forms of digital assets.

It also seeks comments on efforts to mitigate climate harm and reduce energy use associated with digital assets. In addition, OSTP also aims to determine potential energy or climate benefits from digital assets.

Interested participants have until May 9th to send their comments.

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How important is it for the government to hear people’s opinions on cryptocurrency?

If there are people who can speak regarding a problem on a specific topic, those are the ones who experience it. Hearing people’s opinions and suggestions will provide a clear approach to the government on the things they should and should not do.

By doing this on cryptocurrency, they can also identify what specific part of the digital assets is creating a problem so that they can address it directly. This also provides an open space for users to speak out about what they want to say to the government regarding crypto regulations. By that, the government can clearly understand what people feel regarding digital assets.

Conclusion

PrivacySwap is an advocate of safer crypto space and we are all for regulation for the sake of reducing illegal activities. The government’s involvement can also spread wider awareness of cryptocurrency. What the US government is doing is one of the first steps towards achieving this. We can only hope the rest of the world will follow.

Meanwhile, we are continuously working on improving our utilities to provide a much more flexible ecosystem usable on both blockchain and real-world transactions. Our DEX allows you to trade, exchange, and stake your digital assets to expand them. While PrivacyCards will allow you to use your crypto assets normally like a real fiat currency.

We understand the frustration regarding the delays with the release of these two. However, we only ensure that the platform will be safe to use once released since we know how important every cent you invest with us. We don’t want your money to go to waste.

Furthermore, with all our unique features and continuous crypto regulation worldwide, a safe crypto space for everybody will now be possible.

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