The White House is asking for public comments on cryptoassets, blockchain technology and decentralized finance

The Biden administration is asking the public how they feel about digital assets and blockchain technology as a means to shape future crypto policy.

In a new government document, The White House Office of Science and Technology Policy (OSTP) is asking for the public’s help in identifying key areas of the crypto industry that need more research and development.

“The [OSTP] solicits public comments to help identify research and development priorities related to digital assets, including various underlying technologies such as blockchain, distributed ledgers, decentralized finance, smart contracts, and related issues such as cybersecurity and privacy (e.g., cryptographic foundations and quantum resistance), programmability and sustainability in the case of digital assets.”

In the document, the White House also asks the public which sectors of the market they believe virtual assets are harming.

“Information about targets, sectors or applications where digital assets may introduce risk or harm, and examples of where risks or harm are already being manifested…

Where relevant, respondents are encouraged to justify how digital assets introduce new risks or harms to advance the underlying objective, sector or application compared to the use of traditional databases or other technologies.”

The White House goes on to note that it is currently exploring the possibility of creating a central bank digital currency (CDBC), or a crypto-asset backed by a nation’s central bank, adding that it also wants to know what the public thinks about a US CDBC .

“In the public sector, the US is exploring whether a CBDC can provide a trusted infrastructure to facilitate transactions in a highly digitized world…

Respondents are encouraged to, where relevant, describe how it is discussed [research and development] the topic may be useful in helping a potential US CBDC system align with the policy goals of a US CBDC system.”

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