Republicans in the U.S. House of Representatives are criticizing the White House, saying the Biden administration’s approach to crypto assets threatens the nascent industry.

United States President Joe Biden’s upcoming budget proposal for 2024 is set to introduce significant changes to the tax regime for cryptocurrencies. The proposal includes an end to a tax strategy that has been used by crypto-traders, known as tax-loss harvesting. This, as well as a doubling of the capital gains tax rate for investors making at least $1 million.

The Biden administration is set to release an aggressive new national cybersecurity strategy on Thursday that seeks to shift the blame from companies that get hacked to software manufacturers and device makers, putting it on a potential collision course with big technology companies.

U.S. President Joseph R. Biden will name Federal Reserve Vice Chairwoman Lael Brainard as his top economic adviser, with an announcement to come as soon as Tuesday, Bloomberg News reported on Monday, citing people familiar with the matter. The White House and a Fed spokesman declined to comment on the move, and Brainard could not be reached, according to Bloomberg. Brainard has a focus on crypto as the sector founders, CoinDesk reported on July 8, 2022. (Coindesk)<br><br>Get the latest news here: Cointime channel—https://t.me/cointime_en<br>

United States Democratic lawmakers are intensifying their efforts for crypto mining companies to reveal their energy use and greenhouse gas emissions as the industry grows.

In order to battle illicit finance and facilitate research of digital versions of the U.S. dollar for the United States, President Joe Biden is ordering federal agencies to focus more on the rapidly expanding cryptocurrency market. The White House issued a call to government departments across the board, urging them to coordinate what has been a fragmented approach to the new asset class up until this point.

<a href="https://www.coindesk.com/consensus-magazine/2022/12/05/carole-house-most-influential-2022/">Carole House</a>, former director of cybersecurity and secure digital innovation for the White House, said the March executive order took what she called a “balanced” approach to overseeing the crypto industry, but there are still “gaps” that need to be filled.