President Biden Gives Crypto a Bitter Taste of What Lies Ahead

The crypto industry had been asking for the menu. But based on the appetizer, it’s not sure it’s going to like the main course.

The White House has just published its first-ever comprehensive framework to regulate the young financial services industry, the hallmark of which is eliminating both middlemen and control of centralized entities.

The guidelines come after an executive order was published in March. The order listed six priorities the White House wanted federal agencies to consider:

  1. consumer and investor protection
  2. promoting financial stability
  3. countering illicit finance
  4. US leadership in the global financial system and economic competitiveness
  5. financial inclusion, and,
  6. responsible innovation.


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