Biden and cryptocurrencies: news coming this week
According to Bloomberg, President Joe Biden is ready to sign the long-awaited executive order regarding cryptocurrency regulations.
by Alice Zaniolo
March 8, 2022
According to a Bloomberg report, US President Joe Biden is ready to sign a long-awaited executive order regarding cryptocurrency regulations. The signature expected for this week.
The order will direct federal agencies to examine potential regulatory changes, as well as the national security and economic impact of digital assets.
The executive order will help coordinate the role of agencies such as the Securities and Exchange Commission and the Commodity Futures Trading Commission on cryptocurrency. Industry players have long complained that indications from the SEC and other agencies were not helpful. This, since they try to comply with US law.
Order has been around the proverbial corner for some time now. Bloomberg initially anticipated a possible signature in February as early as January. Yahoo Finance reported in mid-February that President Biden “is expected to issue an executive order next week.” This clearly did not happen.
Cryptocurrencies: never so in the spotlight
Russia’s war on Ukraine has made the matter more urgent. As sanctions, central banks and cryptocurrency financing were in the public consciousness. Instead of using military force, the United States and its allies are fighting Russia with what the Financial Times calls a financial war.