A newly prepared strategy document prepared by the White House’s Biden administration has included several focus areas, including crypto.
The underlying technology of crypto features as one of the key focus areas mentioned in the new strategy document prepared by the United States government.
The document officially states, “Digital Identity Infrastructure and Distributed Ledger Technologies, which increasingly affect a range of key economic sectors.” The document is part of a developing strategy called the National Standards Strategy for Critical and Emerging Technology (Strategy), which puts emphasis on several key areas for critical and emerging technologies.
The strategy document aims to make the country competitive in the mentioned areas of importance to set global standards in each area. The overall strategy of the United States, in this aspect, assigns importance to four main objectives.
Investment, featuring as the first objective of the strategy, could enhance growing standards of research and development in the US. Secondly, the participation of the private sector in developing standards for critical and emerging technologies is regarded as important by the strategy.
Thirdly, the workforce is an important part of the strategy, which involves training key personnel from the private and government domains to be a part of setting global standards for critical and emerging technologies. The National Standards Strategy for Critical and Emerging Technology includes inclusivity and integrity as its final component that would ensure US standards are responsive to global needs.
The mentioning of crypto in the strategy document is an important step since the US government has yet to give any indication of a major nationwide crypto regulation taking shape soon. The strategy document mentioning blockchain would help the industry gather encouragement with the government’s cognizance of the sector’s importance.