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The US is moving closer to developing a digital cryptocurrency, which the Joe Biden administration hopes would help strengthen the country’s position as a global financial leader.

A regulatory framework for “digital assets” like bitcoin and other forms of pure digital wealth was announced.

Multiple strategies included in the framework aim to make digital asset management easier and fraud less likely to occur.

Since President Biden released Executive Order 14067 on Mar 22 with the heading “Ensuring Responsible Development of Digital Assets,” government departments have been hard at work for the last 6 months to establish the foundation.

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