Crypto faces criticism from White House, SEC, and industry leaders.

The White House's annual Economic Report of the President included a scathing chapter on digital assets, citing issues for consumers, the financial system, and the environment. The report looked at various claims and stated goals from the crypto industry, saying that "many of them do not have a fundamental value" and noting other issues with the sector. The report did not delve deeply into recommendations for future regulations or Congressional actions that could address the stated risks.