Biden to Issue an Executive Order Regarding Cryptocurrency Next Week

Biden to Issue an Executive Order Regarding Cryptocurrency Next Week

Share Post:

Biden’s executive order on crypto

There is rising speculation that President Joe Biden will issue an executive order regarding cryptocurrency in the coming week.

Various Agencies to Research Cryptocurrency for Regulation

Biden’s executive order on crypto will direct agencies across the government to research the digital tokens and a central bank digital currency (CBDC). The agencies should then present a government-wide strategy for regulating the blockchain industry.

The news comes from a statement by Jennifer Schonberger on Yahoo! Finance, who stated that an official close to the matter revealed that Biden’s executive order on crypto might be coming next week. The targeted government agencies of the order may include the office of the Attorney General, the State Department, Homeland Security, and the Treasury Department.

The news also states that the new Director of the Office of Science and Technology Policy, Alondra Nelson, will evaluate the infrastructure needed for the CBDC. The agency has 180 days to provide a plan for President Joe Biden. Additionally, it has 545 days to update him on the environmental impact in 545days.

The Financial Stability Oversight Council, on the other hand, would research the effect of the introduction of cryptocurrency on financial stability. SEC, the Commodity Futures Trading Commission, Fed Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency will develop measures to protect markets and mitigate risks.

White House and Treasury Disagree of Order?

According to a report by Bloomberg, Biden’s executive order on crypto was to come weeks ago. However, it was delayed until next week because of a disagreement between the White House and the Treasury. Allegedly, Treasury Secretary Janet Yellen thinks agencies are already engaged in other topics. Thus, she does not see an executive order regarding cryptocurrency as a necessary move.

A Treasury official has since disputed the news as inaccurate. According to the official, the Treasury is involved in various efforts to regulate the cryptocurrency industry. Moreover, it is working with the FBI to form a new crypto unit led by an experienced cybercrime prosecutor.

If you are ready to upgrade from your FREE telegram membership and see in a real time crypto trading signals and portfolio diversification of the ParadiseTeam, use BESTSIGNALS3% as the promo code or click this link and join PardiseFamilyVIP with this limited discount now ! You can choose from Binance VIP, Bitmex, Bybit or newly kraken and FTX vip as well.

Subscribe
Notify of
guest

0 Comments
Inline Feedbacks
View all comments

Recent Articles

Follow Us

Trade Crypto Like a PRO

Decrease the risk of losing everything you have.

A team of 4 professional traders is sharing their personal daily trade setups with you.

Imagine finally having the right strategy, insights and knowledge to profit from the volatile crypto market movements consistently.

Safe Time, and Start Trading Like a PRO Today
Dark Mode