US roadmap on risks posed by cryptocurrencies

The White House has released what it called a roadmap to mitigating the key risks posed by cryptocurrencies. The roadmap talks about how the year 2022 was a tough year for cryptocurrencies. “In May, a so-called “stablecoin” imploded, prompting a wave of insolvencies. Just months later, a major cryptocurrency exchange collapsed. Many everyday investors who trusted cryptocurrency companies—including young people and people of color—suffered serious losses, but, thankfully, turmoil in the cryptocurrency markets has had little negative impact on the broader financial system to date,” it says. The focus of the roadmap is said to be on continuing to ensure that cryptocurrencies cannot undermine financial stability, to protect investors, and to hold bad actors accountable.