Recently Biden His administration is reportedly working on an executive order that highlights the potential economic, regulatory and national security challenges cryptocurrencies may face in the future. Accordingly, the Biden administration may issue an official directive on cryptocurrencies in February.
It is thought that the final draft of the executive order, which highlights the government’s strategies regarding cryptocurrency, could be introduced within the next month.
In a Bloomberg report on the subject, it was learned that senior management officials had multiple meetings to discuss the executive order and the order was prepared to be presented to Joe Biden in the next few weeks.
It is also rumored that federal agencies such as the Financial Stability Oversight Council have been tasked with releasing detailed information on illegal uses of cryptocurrency. The report also includes a centrally backed digital currency of the government (CBDC) is also reported to be working on extraction. In particular, the CBDC (central bank digital currency) issue attracts the greatest attention as it is an important issue that the US has avoided to take a clear step until now.