White House reveals framework for crypto regulation


The White House has revealed a new framework for regulating digital assets like cryptocurrencies. The proposed framework represents the Biden administration's "most significant effort yet" to create a policy for the government regulation of crypto assets, Forbes reports.
The statement released by the White House on Friday seems to be a follow-up to an executive order Biden signed in March, which requested that multiple agencies analyze the pros and cons of digital assets.
The new framework outlines a plan to explore the creation of a digital U.S. dollar, or U.S. Central Bank Digital Currency, which would simplify cross-border transactions.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
The proposed plan also addresses possible risks that crypto users could face. In its statement, the White House implores the Security and Exchange Commission and Commodity Futures Trading Commission to "aggressively pursue" investigations into unlawful practices. It also solicits federal agencies to put more effort into handling consumer complaints concerning deceptive practices by crypto companies.
Additionally, the White House is determined to make the digital economy more equally accessible by endorsing an expanded use of "instant payment services," and establishing regulations for "non-bank" payment platforms.
In another statement released by the White House, National Economic Council Director Brian Deese and National Security Advisor Jake Sullivan said the new proposal would prepare the U.S. to play a "leading role in the innovation and governance of the digital assets ecosystem at home and abroad."
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Theara Coleman has worked as a staff writer at The Week since September 2022. She frequently writes about technology, education, literature and general news. She was previously a contributing writer and assistant editor at Honeysuckle Magazine, where she covered racial politics and cannabis industry news.
-
Today's political cartoons - April 17, 2025
Cartoons Thursday's cartoons - Harvard University, small businesses, and more
By The Week US
-
Fake AI job seekers are flooding U.S. companies
In the Spotlight It's getting harder for hiring managers to screen out bogus AI-generated applicants
By Theara Coleman, The Week US
-
The sneaky rise of whooping cough
Under the Radar The measles outbreak isn't the only one to worry about
By Theara Coleman, The Week US
-
China accuses NSA of Winter Games cyberattacks
speed read China alleges that the U.S. National Security Agency launched cyberattacks during the Asian Winter Games in February
By Rafi Schwartz, The Week US
-
Russian strike kills dozens in Ukraine
Speed Read The Sumy ballistic missile strike was Russia's deadliest attack on civilians this year
By Peter Weber, The Week US
-
Inside the Israel-Turkey geopolitical dance across Syria
THE EXPLAINER As Syria struggles in the wake of the Assad regime's collapse, its neighbors are carefully coordinating to avoid potential military confrontations
By Rafi Schwartz, The Week US
-
South Korea court removes impeached president
Speed Read The Constitutional Court upheld the impeachment of Yoon Suk Yeol after his declaration of martial law in December
By Peter Weber, The Week US
-
Myanmar quake deaths rise as survivor search intensifies
speed read The magnitude-7.7 earthquake in central Myanmar has killed a documented 2,000 people so far, and left scores more trapped beneath rubble
By Peter Weber, The Week US
-
'Like a sound from hell': Serbia and sonic weapons
The Explainer Half a million people sign petition alleging Serbian police used an illegal 'sound cannon' to disrupt anti-government protests
By Abby Wilson
-
Israel detains director after West Bank settler clash
speed read The director of Oscar-winning documentary 'No Other Land' was arrested and beaten
By Rafi Schwartz, The Week US
-
Turkey arrests Istanbul mayor, a top Erdogan rival
Speed Read Protests erupted in Turkey after authorities detained Istanbul Mayor Ekrem Imamoglu
By Peter Weber, The Week US