Request for Information: Digital Assets Research and Development Agenda
Summary
SIFMA provided comments to the White House Office of Science and Technology Policy (OSTP) on their request for information to help identify priorities for research and development related to digital assets, including various underlying technologies such as blockchain, distributed ledgers, decentralized finance, and smart contracts.
Excerpt
By Electronic Mail
March 3, 2023
The White House Office of Science and Technology Policy (OSTP)
Eisenhower Executive Office Building
725 17th Street NW
Washington, DC 20006
Re: Request for Information: Digital Assets Research and Development Agenda
To Whom It May Concern:
The Securities Industry and Financial Markets Association (“SIFMA”)1 appreciates the opportunity to comment on the request for information (“RFI”) issued by the White House Office of Science and Technology Policy (“OSTP”) to help identify priorities for research and development related to digital assets, including various underlying technologies such as blockchain, distributed ledgers, decentralized finance, and smart contracts. The RFI also solicits comment on several related issues such as cybersecurity and privacy, programmability, and sustainability as they relate to digital assets.2
SIFMA welcomes the OSTP’s interest in seeking additional information on the research and development (“R&D”) opportunities that could arise from digital assets. In particular, the OSTP’s interest in understanding the “goals, sectors, or applications that could be improved with digital assets and related technologies,” as well as the “goals, sectors, or applications where digital assets introduce risks or harms.”3 SIFMA’s response to the RFI focuses on the opportunities and possible risks associated with digital assets and distributed ledger technology (“DLT”) in the context of capital markets products and applications.
1 SIFMA is the leading trade association for broker-dealers, investment banks and asset managers operating in the U.S. and global capital markets. On behalf of our industry’s nearly 1 million employees, we advocate for legislation, regulation and business policy, affecting retail and institutional investors, equity and fixed income markets and related products and services. We serve as an industry coordinating body to promote fair and orderly markets, informed regulatory compliance, and efficient market operations and resiliency. We also provide a forum for industry policy and professional development. SIFMA, with offices in New York and Washington, D.C., is the U.S. regional member of the Global Financial Markets Association (GFMA).
2 See Office of Science and Technology Policy, 88 Fed. Reg. 5,043 (Jan. 26, 2023).
3 Ibid. 5045.