Biden White House just put out a framework on crypto

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The Biden White House has released a document outlining its framework for regulating cryptocurrencies.

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Calling for "greater transparency and accountability" in the digital asset space.

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The paper, titled "A Framework for Regulating Cryptocurrencies," was released on May 21 by the National Economic Council 

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And the Treasury Department. It comes as the administration is reportedly mulling over how to crack down on Bitcoin and other digital assets.

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"The rise of crypto assets and their widespread adoption poses challenges to global asset managers, financial institutions.

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Regulators that are not adequately equipped to deal with them," the paper says. 

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"This is a rapidly evolving space and we must be nimble to adapt policies and regulations as needed."

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The paper goes on to call for "greater transparency and accountability" when it comes to crypto assets, as well as "enhanced international cooperation" on regulation. 

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It also calls for more research to be done on the impact of cryptocurrencies on the financial system and the economy as a whole.

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So far, reaction to the paper has been mixed. 

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