The White House issued a statement on January 27, bringing a route map to the administration of President Joe Biden to reduce the risks associated with cryptocurrency. The legal guidance of the relevant departments submitted most of the specific contents of the document to the U.S. Congress.

The author of the statement outlined a road ahead that went ahead at the same time. They wrote:

"over the past year, people have been identifying cryptocurrency risks and taking action to mitigate them through the powers of the executive."

The first factor in the route map is the comprehensive framework of the "first so far" digital asset development trend published by the country in September 2022. The document is reported in accordance with the administrative regulations of the President of the United States issued in March 2022 on ensuring responsible research and development of digital assets.

Second, the actuator has stepped up law enforcement and announced new implementation opinions. According to the statement, government departments have developed new public awareness projects to help consumers master the risks of choosing and purchasing encrypted currencies. It specifically mentions banking regulatory organizations and supports them to keep up their efforts. On the same day that the statement was released, the Fed meeting denied that Digital Asset Custodia Bank was part of the Fed's meeting management system.

It is worth noting that this statement then lists the actions that government departments expect Congress to take, saying:

"Congress should also increase diligence."

The White House has a very large due process to-do list. Its proposals include expanding the rights of regulators, raising disclosure rules, strengthening penalties for wrongdoing, improving the inspection of assets, and empowering the FSB to report in accordance with administrative rules.

The authors can also take this opportunity to urge Congress not to do a lot of things:

"the law should not allow mainstream organizations such as pension funds to plunge into the cryptocurrency market."

They stressed that limiting such behaviour would prevent "cryptocurrency unrest" from spreading to the broader financial system.