The White House said the administration of United States President Joseph Biden is monitoring the situation with the recent crypto market crash but deferred to independent regulators for any potential enforcement actions.
In a Nov. 10 press briefing, White House Press Secretary Karine Jean-Pierre
In March, President Biden signed an executive order aimed at establishing a framework for digital assets in the United States. Government departments have subsequently released reports in accordance with the order, including the Treasury Department, on the potential opportunities and risks of digital assets, recommending research into stablecoins and a central bank digital currency.
Bankman-Fried reportedly donated more than $5 million to then-presidential candidate Biden in the 2020 election.
