According to new rumors in the press, the Biden administration is preparing a decree to regulate the cryptocurrency market. Here are the rumors about the decree.
According to media reports, Joe Biden and his administration are preparing a decree to regulate the cryptocurrency market. While Joe Biden did not give a positive or negative answer to this decree, it is also reported that some steps had to be overcome in order to publish the decree. For example, if the decree comes to the stage of preparation, some information about how the decree should be prepared needs to be conveyed to the White House by different agencies.
According to a recent report citing anonymous sources familiar with the matter, US president Joe Biden may be working on a way to regulate digital currencies.
Biden is also considering an executive order decision that will bring clarity to the cryptocurrency market, as well as exercise better control over the industry and cryptocurrency activities, sources said.
According to experts, such a decision is not surprising because Biden and his government have been acting in a similar line before.
As a matter of fact, an executive order on cryptocurrencies can be obtained after a very complex and difficult process according to US laws. To make such a decision, for example, many government agencies will have to submit comments based on their area of expertise, and the White House will have to adhere to those recommendations.
The Biden government may want to bring together the decisions from different bodies on a common ground and make the final decision accordingly.
While some figures in the government claim that cryptocurrencies should be regulated, others oppose the regulations, stating that the regulations are unnecessary.