White House Brings SEC Critic as Crypto Advisor, Major Regulatory Changes Ahead?

As an analyst with a background in technology and government policy, I’ve been closely following the developments surrounding the Biden administration’s approach to cryptocurrencies. With Carol House’s recent reappointment as the White House crypto advisor and her outspoken criticism of regulatory ambiguity, it seems that the administration is facing increasing pressure to clarify its stance on digital assets.

During the years 2021 and 2022, House held the position of NSC Director with a focus on cybersecurity and digital advancements at the National Security Council.

I served as an advisor to President Joe Biden on his 2022 executive order concerning cryptocurrencies. Compared to other advisors in the Biden administration, I hold a more favorable stance towards cryptocurrencies. Previously, I voiced my concerns about the administration’s lethargic approach in establishing a clear regulatory framework for American crypto firms.

In a recent podcast interview at the Web3 Working Group, House fiercely criticized the U.S. Securities and Exchange Commission (SEC), expressing his displeasure publicly.

“I find it very disappointing and confusing when it comes to navigating the process for registering and effectively functioning in this particular field due to the lack of clear guidance.”

Following his departure from the White House in 2022, House has offered advisory services to several organizations. Among them are Terranet Ventures, an venture capital firm that invests in crypto technology, and The Digital Dollar Project, a non-profit organization dedicated to exploring central bank digital currencies (CBDCs).

Following her appointment’s renewal, Carol House disclosed in her recent LinkedIn update that she will be resuming duties on the National Security Council, assuming the position of Special Advisor for Cybersecurity and Critical Infrastructure Policy.

It’s a privilege to be asked to contribute once again to essential missions that will shape the future of safe and reliable digital economies.

White House Response to Crypto Policies Faces Scrutiny

Prior to the 2024 US Presidential elections, the Biden administration’s stance on cryptocurrencies has been subjected to intense examination due to recent advancements indicating a significant shift in their policy direction.

A number of notable Democratic senators have taken a different position than the White House and approved a resolution this week, expressing criticism towards the Securities and Exchange Commission (SEC) over its handling of cryptocurrency regulations. However, President Biden exercised his veto power to reject this resolution, defending the SEC’s regulatory choices.

In contrast, Republicans, such as former President Donald Trump, are increasingly using cryptocurrency as a possible point of contention in the upcoming election against President Biden. This change in perspective seems to have led the White House to adopt a more accommodating position towards crypto in the past few weeks.

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2024-06-25 13:54