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US President Joe Biden signed an executive order on Wednesday requiring the government to assess the risks and benefits of creating a central bank digital dollar, as well as other cryptocurrency issues, the White House said. Bitcoin surged to above US$42,000 on the news, but later gave up most of those…
WASHINGTON - US President Joe Biden signed an executive order on Wednesday (March 9) requiring the government to assess the risks and benefits of creating a central bank digital dollar, as well as other cryptocurrency issues, the White House said. Bitcoin surged on the news as the administration's holistic and deliberative approach calmed market fears about an immediate regulatory crackdown...
Biden's order will require the Treasury Department, the Commerce Department and other key agencies to prepare reports on "the future of money" and the role cryptocurrencies will play.
United States President Joe Biden is expected to sign an executive order this week that will jumpstart the regulation of cryptocurrency in the country. The situation comes amid fears of Russia using digital currency to circumvent Western sanctions on its banks.
Joe Biden will reportedly sign a long-anticipated executive order directed toward furthering crypto regulation in the country.