Biden’s Cryptocurrency Executive Order: What You Need to Know
I have HUGE executive order news today! Let’s talk about Biden, Crypto, and what’s going on in Ukraine… and how these hot topics are all related to one another. You’re not going to want to miss this one, guys!
Biden is going to issue an executive order on cryptocurrency. What does this mean, exactly? This will be one of the first steps toward regulating just how we trade digital currency.
Officials are concerned about Russia’s cryptocurrency use, in order to avoid the impact of debilitating sanctions the U.S. has put on the country. If you’re not aware, these sanctions are in response to its invasion of Ukraine.
The sanctions have sent the Russian ruble to all-new lows, along with totally closing the country’s stock market. So if these sanctions weren’t enough, now Biden is coming in hot with a crypto executive order. Needless to say, it’s been a pretty wild ride.
The executive order in question will describe what government agencies like the Treasury Department will do to regulate digital currencies. This includes a potential request for the State Department to ensure that crypto laws are the same as American allies, under the Financial Stability Oversight Council.