Thursday, May 23, 2024
HomeLaw & Politics"Crypto executive order ignores decentralization directives": Tom Emmer

“Crypto executive order ignores decentralization directives”: Tom Emmer

According to Tom Emmer, the U.S. Representative and Chair of the Blockchain Caucus, President Joe Biden’s executive order shows no reference to decentralisation directives.

According to Emmer’s review, the “Executive Order on Ensuring Responsible Development of Digital Assets” issued by US President Joe Biden directs several federal agencies to investigate the advantages and risks of digital assets for the US economy. In addition, the agencies will be responsible for analyzing global competitiveness and making legislative recommendations.

However, the Executive Order makes no reference to decentralisation. Because the US is very interested in digital asset innovation, eliminating intermediaries in the US economy is very important to improving trust and fostering innovation in the digital asset space.

For the last eight years, the bipartisan Blockchain Caucus, co-chaired by Tom Emmer, has been advancing a pro-crypto legislation and oversight agenda.

Furthermore, he thinks that crypto, tokenization, blockchain, NFTs, smart contracts, and stablecoins are enabling a more sustainable economic framework with increased individual liberty. It is important for the government to adopt a plan to stimulate innovation in crypto and blockchain technology.

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Jeewan Singh
Jeewan Singh
Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.


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