On June 24, the Biden administration announced through LinkedIn that it had decided to re-hire veteran cryptocurrency advisor Carole House to strengthen the government’s work in the digital economy.
House said she will return to the White House National Security Council (NSC) as a special adviser on cybersecurity and critical infrastructure policy. At the same time, she also expressed her honor to be reappointed to perform a key task, which she believes is crucial to building a new era of secure and reliable digital economy.
House served as the Director of Cybersecurity and Secure Digital Innovation at the National Security Council from April 2021 to June 2022. She has a rich professional background and has held important positions in a number of key government agencies, including the New York Department of Financial Services (NYDFS), the Commodity Futures Trading Commission (CFTC), and the Treasury Department, and has accumulated valuable work experience in a number of companies and organizations outside the government.
Advisors support cryptocurrency and regulation
Carol House, a former cryptocurrency adviser rehired by the Biden administration, has mixed views on the cryptocurrency space.
In an interview with Consensus magazine on June 4, 2024, she made it clear that the legitimate uses of cryptocurrencies are growing in tandem with illegal activities. She warned that as the legitimate use of cryptocurrencies increases, distributed, transnational criminal networks and groups may also exploit weaknesses and opportunities in this phenomenon to conduct illegal activities.
At the same time, House gave a positive evaluation of the United States' compliance with anti-money laundering regulations, believing that the United States is one of the most compliant regions in this field in the world. She pointed out that despite the improvement in compliance, there are still vulnerabilities that need to be addressed. In March 2023, House proposed that in order to strengthen law enforcement and supervision, the United States should limit the innovation and development of cryptocurrencies to the country to more effectively respond to regulatory challenges.
During House's tenure, she faced public concerns that regulators might restrict the development of cryptocurrencies in the banking system. In response, House said that the White House, with her participation, adopted a balanced strategy, trying to find an appropriate compromise between the strictness of regulation and the freedom to innovate. As a co-drafter of President Biden's executive order on cryptocurrency, House played a key role in the formulation of relevant policies, but at the same time, some of her positions were questioned by some people in the industry.
For example, at a hearing in February, the House of Representatives proposed that cyber sanctions should be imposed on Bitcoin miners, especially those Lazarus Group hackers supported by North Korea. At the same time, Bobby Shell IV, a member of the board of directors of Voltage, also opposed some of House's positions, believing that these policy choices may be detrimental to the national interests and strategic goals of the United States.
House's decision to return to government service is closely tied to the Biden administration's overall approach to cryptocurrency. Recent reports indicate that the government is actively working with the cryptocurrency industry to build partnerships and is considering accepting cryptocurrency as a means of donation soon. This shows that the government is open to adopting and utilizing this emerging technology, while the U.S. government is also working to explore more effective regulatory measures to ensure the healthy development and risk control of this new field. #加密货币 #加密顾问 #拜登 #监管 #平衡
Conclusion:
House's return to the White House heralds the Biden administration's pursuit of a balance between innovation and security in cryptocurrency regulation. Her professional insights will help the United States embrace the potential of technology while ensuring financial security in the steady development of the digital economy.
Amid diverse perspectives and industry dynamics, House’s mission is to develop policies that both stimulate market vitality and meet regulatory needs. At the same time, the U.S. government’s open and cooperative attitude toward the cryptocurrency industry demonstrates its ambition to lead the global fintech sector and also emphasizes the importance of maintaining market stability in innovation.