To embed, copy and paste the code into your website or blog: The first 100 days of the Biden administration has coincided with a watershed period in the evolution of blockchain technology and cryptocurrencies. The price of Bitcoin has risen dramatically during that period, triggering increased interest in cryptocurrencies, including among traditional financial services firms. In addition, developments such as the explosion of nonfungible tokens (NFTs) and the direct listing of the cryptocurrency exchange Coinbase on Nasdaq have broadened public interest and awareness. Finally, an announcement by the People’s Bank of China that it was developing a digital yuan, a so-called central bank digital currency, has heightened concerns that, without clear regulatory guidance to support this industry, the U.S. could fall behind China in this technology sector, with possible fallout for American economic policy.