After months of speculation, the Biden administration finally released its much anticipated executive order on cryptocurrency.
President Biden will order federal agencies to direct their approach to cryptocurrencies and will direct the Treasury Department to create a report on the current financial system as the administration explores the “future of money.”
The order laid out six "key priorities" from protecting U.S. and global interests to preventing illicit users from gaming the system, and promoting "responsible innovation."
Ross Mac of Maconomics broke down the order and what’s next for cryptocurrency regulation in the latest episode of the Crypto Minute on TheStreet.
Transcript:
Joe Biden signed an executive order today calling on the government to examine the risks and benefits of cryptocurrencies.
It’s your boy Ross Mac and this is what cryptocurrency investors are watching on Wednesday, March 9.
The details of Biden's crypto policy is finally here....after months of delay.
He is going to direct federal agencies to coordinate their approach to cryptos, and will direct the Treasury Department to create a report on how the current financial system and whether or not it's satisfying consumers as well as digging into the "future of money."
The order lays out six "key priorities'' from protecting U.S. and global interests to preventing illicit users from gaming the system, and promoting "responsible innovation." Is it time for crypto to get some regulatory framework?
It’s your boy Ross Mac and that was the Crypto Minute on TheStreet.