Cryptocurrency Investors of US President Joe Biden bitcoin Attention was paid to the presidential order to be published on cryptocurrencies and cryptocurrencies.
It has been learned that US President Biden will issue a comprehensive presidential order on the regulation of cryptocurrencies next week.
Biden will issue a presidential injunction on cryptocurrency regulations next week. – Yahoo#Bitcoin
— Bitcoin System (@bitcoinsystem) February 17, 2022
US Institutions to Research Cryptocurrency and CBDC Technology
President Biden has asked Federal agencies to conduct research on cryptocurrencies and CBDC technology. According to the information, citing a Treasury Department official, the US will determine a comprehensive strategy for the regulation of digital assets.
Here are the institutions that Biden has commissioned on cryptocurrencies and their duties:
- Department of the Treasury, Department of State, and Department of Justice – CBDC research
- Financial Stability Oversight Council (FSOC) – financial stability of cryptocurrencies
- Consumer Financial Protection Bureau and Department of Justice – impact of digital assets on market competition
- SEC and Commodity Futures Trading Commission (CFTC) – market protection
Biden demanded a report from the authorities on the future of finance and payment systems. The director of the country’s Office of Science and Technology Policy will conduct a technical analysis of the infrastructure necessary to use the CBDC system.
The FSOC will investigate stability issues that may arise with the use of digital assets.
The Federal Trade Commission and the Department of Justice will explore the impact it can have on the growing digital asset markets.
The SEC and the CFTC will take steps within their jurisdiction regarding market and consumer protection. The presidential act is expected to include decisions that will protect businesses and investors, as well as address privacy issues associated with digital assets.
In addition, the environmental effects of Blockchain technology will also be examined.
The agencies’ investigations are scheduled to take between 90 and 180 days and will eventually be reported to president Joe Biden.