JAKARTA The US government reportedly issued cryptocurrency-related rules as asset class last Friday. This is a framework guide for the crypto industry in the US.
Commenting on the information, Binance founder Changpeng Zhao (CZ) hopes that the appropriate regulatory framework from the US government can benefit the crypto industry as a whole.
On the other hand, the crypto community considers that these guidelines require further clarity. CZ emphasized that the framework is a significant acknowledgment, and the company aims to work closely with global watchdogs.
After issuing several executive orders about digital assets in recent months, the Biden administration began discussing it on Friday, August 16, when it released a potential framework for managing asset classes.
According to CryptoPotato, two regulators in the US, the SEC and CFTC will continue to struggle to determine which of the two gets a bigger share. Recent reports touch crypto integration with the current financial system, including facilitating unlimited transactions.
The document also mentions CBDC and urges government agencies to find ways to reduce criminal activity involving cryptocurrencies.
The paper contains this framework was greeted with a contrasting opinion by the crypto community, and most recently the CEO of Binance - Changpeng Zhao.
He believes the US move as the strongest economic force in the world is a good sign for the crypto industry because right will help protect consumers, markets, and trigger responsible innovations.
CZ also noted that its company, which has faced a massive reaction from several watchdogs in recent years, will cooperate with US governments as well as other global regulators to increase industry perceptions and adoption.
We embrace the opportunity to work closely with regulators and industry as they seek to build a suitable global regulatory and compliance framework for the industry, CZ said in a statement.
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