The Dept. of Commerce has 17 questions to help develop a crypto framework
The US Department of Commerce is calling for submissions on how it can establish a framework that will bolster American economic competitiveness in digital assets including crypto and stablecoins.
The Department of Commerce (DoC) intends on publishing a series of 17 questions in a request for comment through the International Trade Administration. The request will be published in the Federal Register on May 19.
The questions pertain to the DoC’s efforts to develop a framework for challenges to the growth of American economics regarding digital assets, as requested by President Joe Biden’s Executive Order.
The questions will cover a range of topics related to crypto businesses in the US such as views on how regulations can enhance competitiveness and what obstacles business owners currently face. It will also cover digital asset mining, likely in relations to Bitcoin and Ethereum. One asks:
The US is currently the largest Bitcoin mining country by producing 37.84% of the world’s hash power as of January, according to the Cambridge Bitcoin Electricity Consumption Index. By that metric, it appears there are many businesses that believe in the future of digital asset mining.
Remember Biden's crypto executive order from two months ago? Buried in it was homework for the Department of Commerce: Make a plan for driving U.S. competitiveness and leadership in crypto.Well... ():https://t.co/zvAbUpG7M8 pic.twitter.com/ymzm1f9g13
Among those miners, demand for sustainable energy sources and carbon neutrality is on the rise. Investors like Kevin O’Leary, who are driving demand for sustainable mining, told Cointelegraph on May 10 that the crypto industry is “at an interesting inflection point” when it comes to environmental
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