A Rulemaking Framework is a structured process by which governmental agencies develop, propose, and finalize new regulations. This framework typically involves public consultation periods, impact assessments, and legal reviews to ensure rules are effective and fair. It provides a systematic approach to creating legally binding standards that govern industries or activities. The framework aims for transparency and stakeholder input in policy development.
Context
The establishment of a clear Rulemaking Framework for digital assets is a critical demand from the cryptocurrency industry and a significant focus for regulators globally. The absence of such a framework has led to regulatory uncertainty and hindered innovation. News often reports on legislative proposals and agency initiatives aimed at creating comprehensive rules for cryptocurrencies, stablecoins, and decentralized finance. A well-defined framework is seen as essential for providing clarity, protecting consumers, and fostering responsible growth in the digital asset space.
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