The Joe Biden administration said on Friday that it sees many advantages and opportunities in the digital dollar project it launched in March, but that the initiative must guarantee the "responsible development" of that currency to reduce your risks.
"Responsible development of digital assets is vital to US interests"White House top economic adviser Brian Deese said in a telephone news conference.
However, he highlighted risks linked to the protection of consumers and investors, as well as to the security and stability of the financial system and to the "financial and technological leadership (of the United States) in the world".
Faced with the global boom in cryptocurrencies such as bitcoin and the growing use of digital payments, Biden signed a decree in March requesting the Treasury Department to submit a report on it within six months. "the future of money".
It received nine proposals, which recommend continuing to work on the issue, although without specifying any deadline, according to the White House.
These reports "provide a solid foundation for policymakers as we continue to work to understand the potential benefits of digital assets and to mitigate and minimize the risks"Treasury Secretary Janet Yellen said.
"Innovation is one of the characteristics of a dynamic financial system"but requires a"proper regulation"he added. "If those risks are mitigated, digital assets and other emerging technologies could offer significant opportunities.".
The US central bank (Federal Reserve, Fed), which has been working on this issue for years, was encouraged to continue along these lines, with the support of a specific group that would be led by the Treasury.
Alondra Nelson, director of the office of scientific and technological policy, pointed out that the environmental consequences of the development of a cryptocurrency must also be considered.
"We found that crypto assets consume 1-2% of US electricity annually" and produce "between 0.4 and 0.8% of the emissions generated by the production of iron and steel in the United States"he highlighted.
