Biden's Crypto Clampdown Warns Digital Assets.

Due to all the volatility in the cryptocurrency market, which has already lost over $1 trillion,

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as well as the dangers of fraud and other illegal activity, the U.S. government hasn't been a fan.

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The White House has finally unveiled a detailed framework that aims to control the future of digital assets

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in every way after years of vigorous lobbying and concerns expressed by agencies.

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The emphasis is on encouraging private sector research, developing digital assets responsibly, and boosting cross-agency cooperation in general.

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One of the most striking features of the White House framework mentions that President Joe Biden is thinking about requesting Congress

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to change the Bank Secrecy Act and other relevant regulations in order to include digital assets.

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Congress may also debate raising the penalties for unauthorized money transfers to the same standard as other money laundering-related offences.

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