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The Biden Administration Gets Serious About Web3

As with the first two generations of the internet, Web3's growth has far outpaced the governance response to it, leaving many innovators struggling in an environment of regulatory opacity. Fortunately, the US has now indicated that it recognizes the industry's importance as a source of both risk and opportunity.

WASHINGTON, DC – As the third generation of the internet – Web3 – has continued to expand, many developers, companies, and investors have agonized over the lack of regulatory clarity around the world, particularly in the United States. But now that US President Joe Biden has issued an Executive Order on Ensuring Responsible Development of Digital Assets, a sleeping giant has awoken.