Cryptocurrency Risks Hurting US Financial Stability, National Security


The recent substantial turmoil in the cryptocurrency markets shows that digital assets risk harming the United States’ financial stability and national security, White House National Economic Council Director Brian Deese said.

“We’ve seen in recent months substantial turmoil in cryptocurrency markets and these events really highlight how without proper oversight cryptocurrencies risk harming everyday Americans’ financial stability and our national security,” Deese told reporters.

The Biden administration released a series of reports on Friday as part of an executive order directive from March, recommending that federal financial regulators strengthen US cryptocurrency regulations in preparation for a potential US central bank digital currency (CBDC) should one be deemed to be in the US national interest.

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