{"id":470846,"date":"2022-07-05T21:45:00","date_gmt":"2022-07-05T18:45:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/us-commerce-dept-asks-digital-asset-industry-for-input-on-competitiveness-framework\/"},"modified":"2022-07-05T21:45:00","modified_gmt":"2022-07-05T18:45:00","slug":"us-commerce-dept-asks-digital-asset-industry-for-input-on-competitiveness-framework","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/us-commerce-dept-asks-digital-asset-industry-for-input-on-competitiveness-framework\/","title":{"rendered":"# US Commerce Dept. asks digital asset industry for input on competitiveness 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-6a27c15f24a00\" 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-6a27c15f24a00\" 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\/us-commerce-dept-asks-digital-asset-industry-for-input-on-competitiveness-framework\/#%E2%80%9D_US_Commerce_Dept_asks_digital_asset_industry_for_input_on_competitiveness_framework_%E2%80%9C\" >&#8221; US Commerce Dept. asks digital asset industry for input on competitiveness framework &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_US_Commerce_Dept_asks_digital_asset_industry_for_input_on_competitiveness_framework_%E2%80%9C\"><\/span>&#8221; US Commerce Dept. asks digital asset industry for input on competitiveness framework &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvZDRmZTU0NmItYmNlMy00MGQyLWI4ZGUtNjRkNjYzMDcyY2Q3LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>Among the numerous reports and other written material mandated in United States President Joe Biden\u2019s March 9 executive order \u201cEnsuring Responsible Development of Digital Assets\u201d is a framework for enhancing United States economic competitiveness in digital asset technologies, due from the Commerce Department on September 5. In preparation for that document, the Commerce Department <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.regulations.gov\/document\/ITA-2022-0003-0001\">requested<\/a> public comments through Tuesday, providing 17 questions to encourage discussion.<\/p>\n<p>As of midday on Tuesday, eight comments had been received by the Commerce Department. They ranged from a few paragraphs to pages of detailed analysis. Mastercard\u2019s 16-page response was the longest. <\/p>\n<p>Mastercard said in its response that the United States was in a particularly strong position as both a financial services and technological innovation hub. It urges several steps be taken to preserve those advantages. Lack of regulatory clarity is a significant obstacle business and innovation, Mastercard wrote, adding:<\/p>\n<blockquote><p>\u201cMastercard therefore supports the view that the U.S. administration should consider leadership in the regulation of digital assets as a key enabler of the overall competitiveness of American firms in this sector.\u201d <\/p><\/blockquote>\n<p>In addition, Mastercard said countries are creating burdensome requirements for businesses in the sector and recommended that \u201can <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>roach to the treatment of digital trade\u201d be included in U.S. international trade agreements.<\/p>\n<p><strong><em>Related: Mastercard to allow 2.9B cardholders to make direct NFT purchases<\/em><\/strong><\/p>\n<p>Tech trade group Chamber of Progress urged regulatory clarity and workforce development to preserve the U.S.\u2019s leading position. The Proof of Stake Alliance touted the advantages of proof-of-stake technologies as \u201cthe future of digital asset innovation\u201d in carefully argued responses to four of the department\u2019s discussion questions.<\/p>\n<p>A visiting senior research fellow at George Mason University Mercatus Center argued at length for relief from \u201cthe heavy regulatory burden that US digital asset businesses bear\u201d and the need for the development of privacy protections.<\/p>\n<p>The American Bankers Association favored regulatory clarity as well while criticizing the Securities and Exchange Commission\u2019s Staff Accounting Bulletin 121 for inhibiting competitiveness. It praised existing U.S. payment systems and called the benefits of a U.S. CBDC \u201cuncertain and unlikely to be realized.\u201d Independent Community Bankers of America said digital assets \u201cpresent numerous significant threats, including financial crimes and risks for financial stability\u201d and openly opposed a U.S. CBDC.<\/p>\n<p>The executive order on digital asset development called for over a dozen written responses. The first of those was published by the Justice Department in June. The Commerce Department framework is one of five documents expected to be released on September 7.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/p>\n<\/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\/us-commerce-dept-asks-digital-asset-industry-for-input-on-competitiveness-framework\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; US Commerce Dept. asks digital asset industry for input on competitiveness framework &#8220; Among the numerous reports and other written material mandated in United States President Joe Biden\u2019s March 9 executive order \u201cEnsuring Responsible Development of Digital Assets\u201d is a framework for enhancing United States economic competitiveness in digital asset technologies, due from the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":470847,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvZDRmZTU0NmItYmNlMy00MGQyLWI4ZGUtNjRkNjYzMDcyY2Q3LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[79786,74355,70934],"class_list":["post-470846","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-digital-asset","tag-adoption","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/470846","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=470846"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/470846\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/470847"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=470846"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=470846"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=470846"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}