The White House will publish a state strategy on cryptocurrencies in February
The US administration has directed federal regulators to assess the risks and benefits of digital assets
In February of this year, the administration of US President Joe Biden will publish a nationwide strategy for cryptocurrencies, Bloomberg reports. Agency sources say the White House has instructed federal regulators to evaluate the risks and benefits of digital assets. Senior Biden administration officials have already held several meetings on the matter, the sources added.
Last week, the head of the US Securities and Exchange Commission (SEC), Gary Gensler, said that in 2022 the agency will focus on regulating cryptocurrency exchanges. Gensler also hopes that trading platforms will take the initiative in this matter in the coming months.
In December 2021, Gensler called bitcoin an autonomous alternative and competitor to the US banking system. The official explained that about 40 years ago, the country’s banking system was completely rebuilt to combat money laundering and other threats. Bitcoin and its autonomous approach are trying to undermine this system, so the regulator does not support such competition, the head of the SEC noted.
Google will offer the ability to store cryptocurrency on digital cards
The corporation said that they plan to expand the scope of cooperation with projects from the digital asset industry
Google intends to offer the possibility of storing cryptocurrencies on digital cards, while payments will continue to be made in fiat currency. Google President of Commerce Bill Ready told Bloomberg in an interview that the corporation plans to expand cooperation with representatives of the crypto industry.
At the moment, the company has partnerships with the Coinbase crypto exchange and the Bitpay processing service. The company has shied away from the digital asset space in the past, but now it is focusing heavily on cryptocurrencies, Ready said.
Google plans to make Google Pay an “all-encompassing digital wallet” with support for digital tickets and vaccination passports. The corporation is also preparing to integrate payment options into search results. Among other things, the search engine will show personal customer loyalty cards and discounts for relevant queries.
In August last year, Google lifted a US ban on advertising for cryptocurrency exchanges and wallets. Since then, services have been able to promote their services through the search engine again. Since June 2018, advertising for digital assets and related content has been banned on Google services.