President Joseph Biden is expected to sign an executive order on cryptocurrency later this morning.
Bitcoin supports has obtained an information sheet summarising the order’s main aspects, which is touted as the “first ever, whole-of-government” approach to supervising the sector in the United States.
According to a fact sheet acquired by Bitcoin supports, President Joseph Biden will issue a much-anticipated executive order at 6:00 a.m. EST.
“Outlining the first ever, whole-of-government approach to tackling the risks and utilising the potential benefits of digital assets and their underlying technologies,” according to the fact sheet.
The document, which can be seen in its entirety below, was released to The Bitcoin Supports. It’s marked as being under embargo until 6:00 a.m. EST, despite the fact that The Bitcoin supports was never a party to the arrangement.
Despite early fears of a looming crackdown, the directive appears to be quite benign, according to previous reports. It does, however, highlight a whole-of-government approach, requesting new study on relevant aspects of the crypto ecosystem from the Treasury, Financial Stability Oversight Council, Federal Reserve, and national security agencies.
Treasury Secretary Janet Yelen’s statement on the new executive order appeared on the Treasury’s website by accident before being pulled down, but not before its webarchive was preserved. “This work will complement ongoing efforts by Treasury,” Yellen said, echoing the fact sheet’s emphasis on coordination and the existing basis of agency interest in crypto.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.