{"id":449356,"date":"2022-05-19T08:24:18","date_gmt":"2022-05-19T05:24:18","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/the-dept-of-commerce-has-17-questions-to-help-develop-a-crypto-framework\/"},"modified":"2022-05-19T08:24:18","modified_gmt":"2022-05-19T05:24:18","slug":"the-dept-of-commerce-has-17-questions-to-help-develop-a-crypto-framework","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/the-dept-of-commerce-has-17-questions-to-help-develop-a-crypto-framework\/","title":{"rendered":"# The Dept. of Commerce has 17 questions to help develop a crypto framework"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a29bb0f2c315\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a29bb0f2c315\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/the-dept-of-commerce-has-17-questions-to-help-develop-a-crypto-framework\/#%E2%80%9D_The_Dept_of_Commerce_has_17_questions_to_help_develop_a_crypto_framework_%E2%80%9C\" >&#8221; The Dept. of Commerce has 17 questions to help develop a crypto framework &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_The_Dept_of_Commerce_has_17_questions_to_help_develop_a_crypto_framework_%E2%80%9C\"><\/span>&#8221; The Dept. of Commerce has 17 questions to help develop a crypto framework &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>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.<\/p>\n<p>The Department of Commerce (DoC) intends on publishing a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of 17 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/public-inspection.federalregister.gov\/2022-10731.pdf\">questions<\/a> in a request for comment through the International Trade Administration. The request will be published in the Federal Register on May 19. <\/p>\n<p>The questions pertain to the DoC\u2019s efforts to develop a framework for challenges to the growth of American economics regarding digital assets, as requested by President Joe Biden\u2019s Executive Order.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/3345329f-1cbe-4f92-bc80-f2ca724c67e7.PNG\"><figcaption style=\"text-align: center;\">The unpublished request for comment from the Department of Commerce.<\/figcaption><\/figure>\n<p>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: <\/p>\n<blockquote><p>\u201cWhat, if any, is the future role of digital assets mining in the U.S. digital assets sector? In what ways can the U.S. government and U.S. companies drive competitive, sustainable (for the environment and energy consumption) development of digital assets?\u201d<\/p><\/blockquote>\n<p>The US is currently the largest Bitcoin mining country by <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ccaf.io\/cbeci\/mining_map\">producing<\/a> 37.84% of the world\u2019s hash power as of January, according to the Cambridge Bitcoin Electricity Consumption Index. By that metric, it <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears there are many businesses that believe in the future of digital asset mining.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Remember Biden&#8217;s crypto executive order from two months ago?  <\/p>\n<p>Buried in it was homework for the Department of Commerce: <\/p>\n<p>Make a plan for driving U.S. competitiveness and leadership in crypto.<\/p>\n<p>Well&#8230; ():<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/zvAbUpG7M8\">https:\/\/t.co\/zvAbUpG7M8<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/ymzm1f9g13\">pic.twitter.com\/ymzm1f9g13<\/a><\/p>\n<p>\u2014 Adam Kovacevich (@adamkovac) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/adamkovac\/status\/1524048587390390273?ref_src=twsrc%5Etfw\">May 10, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Among those miners, demand for sustainable energy sources and carbon neutrality is on the rise. Investors like Kevin O\u2019Leary, who are driving demand for sustainable mining, told Cointelegraph on May 10 that the crypto industry is \u201cat an interesting inflection point\u201d when it comes to environmental conscientiousness. <\/p>\n<p>Although the Federal Reserve Board reiterated in its May 9 Financial Stability Report that it currently has no plan to develop a Central Bank Digital Currency (CBDC), one of the questions from the DoC will ask about the potential impact of a CBDC on business.<\/p>\n<p>The DoC will also ask whether digital assets can help unbanked Americans gain access to the financial tools they may need but cannot get through traditional means. Banking the unbanked has long been a use case that crypto industry insiders boast as a natural fit for the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a>. <\/p>\n<blockquote><p>\u201cWhat role can the Federal government and the digital assets sector play to ensure that under-served Americans can benefit from the increased commercial availability of digital assets?\u201d<\/p><\/blockquote>\n<p>The request for public comment will inform the DoC\u2019s thinking in making the framework for an American digital asset business regulatory framework. This early, open approach towards the DoC\u2019s efforts reflects Secretary of Commerce Gina Raimondo\u2019s March 9 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.commerce.gov\/news\/press-releases\/2022\/03\/us-secretary-commerce-gina-raimondo-statement-ensuring-responsible\">statement<\/a> in response to President Biden\u2019s Executive Order. She said her department would promote \u201cthe resilience of the U.S. financial system\u201d by working with digital assets industry partners to \u201cmitigate risks for the businesses and individuals who rely on it.\u201d<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>US agencies warn against the influx of North Koreans in IT and crypto jobs online<\/em><\/strong><\/p>\n<p>If the questions are published on May 19 as expected, comments will be accepted through July 5 and can be sent to digitalassets@trade.gov.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/the-dept-of-commerce-has-17-questions-to-help-develop-a-crypto-framework\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; The Dept. of Commerce has 17 questions to help develop a crypto framework &#8220; 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&#8230;<\/p>\n","protected":false},"author":1,"featured_media":449357,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvMTU5ZTRmMjUtNThiOS00Yzc3LWE4ODYtZmE4YmVlMTBmZWZmLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75269,117,10595,70934],"class_list":["post-449356","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-us-government","tag-business","tag-environment","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/449356","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=449356"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/449356\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/449357"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=449356"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=449356"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=449356"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}