Overview

Click to expand overview
The Council fo Economic Advisors showed outright disregard for the purported benefits of Bitcoin and other cryptocurrencies in the President’s Economic Report However, the White House research clearly shows how the administration feels about cryptos. The White House thinks that investors face danger from digital assets According to the report, crypto assets, to date, appear to offer no tangible investment opportunities; they are not an effective substitute for fiat money, nor does their Federal Reserve decision on Wednesday is the next key catalyst, cryptos show signs of fundamental strength The report states that “crypto assets do not offer any fundamental value, nor do they act as an effective alternative to fiat money.” This is a significant statement from the White House, as it The Economic Report of the President released included a round condemnation of cryptocurrencies, saying they offer nothing except risk to U.S. financial markets. The White House argued in a new report that many crypto assets “have no fundamental value,” and that the $1 trillion industry can cause serious harm to consumers and “Indeed, crypto assets to date do not appear to offer investments with any fundamental value, nor do they act as an effective alternative to fiat money, improve financial inclusion, or make

White House Says Crypto Offers No Fundamental Value: What You Need to Know

The White House has issued a strong statement against cryptocurrencies, asserting that they lack fundamental value and pose risks to the U.S. financial markets. This condemnation comes directly from the Economic Report of the President, released recently and sparking debate across the crypto industry.

Key Takeaways from the White House Report

According to the report, “crypto assets do not offer any fundamental value, nor do they act as an effective alternative to fiat money.” This is a significant statement, indicating a clear stance from the administration. The Council of Economic Advisors showed outright disregard for the purported benefits of Bitcoin and other cryptocurrencies in the President’s Economic Report.

The report emphasizes that:

  • Crypto assets "have no fundamental value."
  • They are not an effective substitute for fiat money.
  • They pose risks to consumers and the broader financial system.
  • Indeed, crypto assets to date do not appear to offer investments with any fundamental value, nor do they act as an effective alternative to fiat money, improve financial inclusion, or make..."

White House Concerns: Risks and Lack of Utility

The White House argued in a new report that many crypto assets “have no fundamental value,” and that the $1 trillion industry can cause serious harm to consumers. The Economic Report of the President released included a round condemnation of cryptocurrencies, saying they offer nothing except risk to U.S. financial markets. The White House thinks that investors face danger from digital assets.

The White House research clearly shows how the administration feels about cryptos. The concerns highlighted include the potential for fraud, market manipulation, and volatility. The report also questions the utility of cryptocurrencies in facilitating financial inclusion or improving existing financial systems.

Contrasting Viewpoints: Are Cryptos Really Worthless?

While the White House paints a bleak picture, the crypto community continues to argue for the technology\'s potential. Supporters point to the increasing adoption of blockchain technology, the emergence of decentralized finance (DeFi) applications, and the potential for cryptocurrencies to provide alternative financial services in underserved communities.

The Future of Crypto Regulation

This strong statement from the White House likely signals increased scrutiny and potential regulatory action in the crypto space. Investors and businesses involved in the crypto industry should closely monitor upcoming policy changes and prepare for a more regulated environment. Keep an eye on the Federal Reserve decision on Wednesday; this is the next key catalyst. Cryptos show signs of fundamental strength even amidst the White House\'s skepticism.

Top Sources

Related Articles