In the US, the Biden administration is set to release a state-wide strategy for cryptocurrencies as soon as next month. Also, according to people familiar with the matter, the administration is tasking federal agencies with assessing the risks and opportunities they pose. So, what are the striking details about it? cryptocoin.com We convey the details as…
The USA is preparing to make moves for cryptocurrencies
Federal agencies in the US have taken a diffuse approach to cryptocurrencies over the past few years. Biden’s team is facing pressure to take the lead on this issue. Industry executives often complain that US rules are not clear, and others worry that the adoption of Chinese and other state-backed coins could threaten the dollar’s dominance. The Biden administration’s growing focus comes at a time of broad consumer interest in the volatile crypto market.
According to the sources, the final-stage draft of the executive order details the economic, regulatory and national security challenges posed by cryptocurrencies. Reportedly, reports will be requested from various institutions in the second half of 2022. The fact that Biden has a tough stance towards cryptocurrencies in general makes us wonder what direction the directive will take.
What will be included in the articles to be published?
The said directive requires other institutions to put their weight on it. Some of these tasks will mean keeping the US competitive as the world increasingly embraces cryptocurrencies. People warned that the administration’s plan, including future directives, could be changed further before it was finalized. Here are 7 things to know about Biden’s directive:
- Joe Biden is drafting an executive order in the US to set policies and regulate cryptocurrencies.
- The directive is expected to be published quite early, next month.
- The previous activities of the Joe Biden administration show that the government is serious about regulating the industry, as it sees crypto as a tool used to finance it.
- Federal agencies will discuss the risks and opportunities posed by cryptocurrencies.
- SEC, CFTC and OCC guidance will be sought to develop executive order on the Fed’s recommendation.
- Senior officials of the Joe Biden administration met several times to discuss and finalize the details of the executive order.
- The executive order will put the White House at the center of regulating cryptocurrencies in the United States.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Disclaimer: The articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, asset or service in this article.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.