the staff of the Ridgewood blog
Ridgewood NJ, the release from the White House on digital assets seems to “kick the can down the road” according to the CEO of the Crypto Council for Innovation, Sheila Warren.
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Friday, the White House released a fact sheet summarizing their takeaways from nine reports following the Executive Order issued in March. It seems to kick the can down the road – we don’t see clear recommendations. Those we do see seem to have an outdated and unbalanced understanding of the technology.
This is surprising given the clear instructions from the EO and work from Members of Congress to move things forward. Regulation by enforcement is not regulatory clarity. If we regulate by enforcement, it also gives other countries a clear runway to figure out how the tech works for their interests, which may be contrary to the US’s. In the hearing yesterday, leaders seemed worried about other countries overtaking the US.
We know there is more to come as policymakers grapple with this complex and nuanced space. The Crypto Council will continue to provide input and help where we can. Connecting the innovators, builders and government leaders is key for next steps.
With all of the kicking the can the G does already, you’d think it couldn’t bounce any farther……..