The comprehensive framework, which spans multiple reports, aims to spur risk mitigation efforts and potentially a US central bank digital currency.
On September 16, 2022, the White House published a fact sheet described as the first-ever “Comprehensive Framework for Responsible Development of Digital Assets” (the Framework). The Framework articulates the Biden Administration’s intended approach to the responsible development of the digital asset space and comes in response to a range of reports from various financial services regulators that were released over the previous few months. These reports include three that the Department of the Treasury published on the same day as the Framework, addressing the future of money and payment systems, consumer and investor protection, and illicit finance risks. Continue Reading