- U.S. President Joe Biden signed an executive order on Wednesday calling on the government to examine the risks and benefits of cryptocurrencies.
- The measures focus on six key areas: consumer protection, financial stability, illicit activity, U.S. competitiveness, financial inclusion and responsible innovation.
- The Biden administration also wants to explore a digital version of the dollar.
U.S. President Joe Biden signed an executive order on Wednesday calling on the government to examine the risks and benefits of cryptocurrencies.
“They will throw their silver into the streets,
And their gold will be like refuse;
Their silver and their gold will not be able to deliver them” Ez. 7:19
It’s a long-awaited directive that has had the crypto industry on edge, not least due to growing regulatory concern around the world surrounding the nascent digital asset market.
There had been reports of a divide between White House officials and Treasury Secretary Janet Yellen leading to delays in the policy rollout.
The crypto market got wind of the executive order overnight after the Treasury accidentally put out a since-deleted statement calling it “historic” and releasing some of the details ahead of time.
The order was finally signed Wednesday. It calls on federal agencies to take a unified approach to regulation and oversight of digital assets, according to a White House fact sheet.
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