US Commerce Dept. asks digital asset industry for input on competitiveness framework
Among the numerous reports and other written material mandated in United States President Joe Biden’s March 9 executive order “Ensuring Responsible Development of Digital Assets” is a framework for enhancing United States economic competitiveness in digital asset technologies, due from the Commerce Department on September 5. In preparation for that document, the Commerce Department requested public comments through Tuesday, providing 17 questions to encourage discussion.
As of midday on Tuesday, eight comments had been received by the Commerce Department. They ranged from a few paragraphs to pages of detailed analysis. Mastercard’s 16-page response was the longest.
Mastercard said in its response that the United States was in a particularly strong position as both a financial services and technological innovation hub. It urges several steps be taken to preserve those advantages. Lack of regulatory clarity is a significant obstacle business and innovation, Mastercard wrote, adding:
In addition, Mastercard said countries are creating burdensome requirements for businesses in the sector and recommended that “an approach to the treatment of digital trade” be included in U.S. international trade agreements.
Related: Mastercard to allow 2.9B cardholders to make direct NFT purchases
Tech trade group Chamber of Progress urged regulatory clarity and workforce development to preserve the U.S.’s leading position. The Proof of Stake Alliance touted the advantages of proof-of-stake technologies as “the future of digital asset innovation” in carefully argued responses to four of the department’s discussion questions.
A visiting senior research fellow at George Mason University Mercatus Center argued at length for relief from “the heavy
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