News & Events

Bitcoin bounces on Biden’s executive order on cryptocurrency – Source

The executive order that President Biden signed early Wednesday on the government’s approach toward cryptocurrencies is getting good reviews from both the crypto world and key government officials.

The crypto industry had been nervously awaiting some clarity from the government on how it would try to regulate the tech. After all, Treasury Secretary Janet Yellen has repeatedly expressed anxiety over the stability of the new currencies, and SEC chair Gary Gensler has called crypto a “Wild West,” where consumers are in danger of being misled and defrauded.

Biden’s E.O. is being taken as a harbinger of a crypto-friendly regulatory regime from Washington in the future. The order itself simply asks that government agencies work together to study the risks and benefits of digital currencies, then work together to establish a regulatory regime. (Yellen accidentally tweeted details of the E.O. before it was published early Wednesday, calling it “historic.” The tweet was quickly…

Read More…

Source :

Source link