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Policy

Biden Administration to Release Executive Order on Crypto as Early as February: Report

The directive will ask federal agencies to determine the risks and opportunities posed by digital assets.

By James Rubin
AccessTimeIconJan 24, 2022 at 1:57 a.m. UTC
Updated May 11, 2023 at 5:25 p.m. UTC
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The Biden administration is readying an executive order for release as early as next month that will outline a comprehensive government strategy on cryptocurrencies and ask federal agencies to determine their risks and opportunities, Bloomberg reported on Friday, citing unnamed sources.

  • The directive would place the White House in a central role overseeing efforts to set policies and regulate digital assets, Bloomberg reported.
  • Federal agencies have already been studying or providing regulatory guidance around the digital asset sector for years.
  • The Office of the Comptroller of the Currency (OCC), Securities and Exchange Commission and Commodity Futures Trading Commission have issued guidance letters, informal statements and public rule-making efforts to direct how different aspects of the crypto industry should comply with federal law. But these efforts have not been coordinated in a single document or by one agency.
  • Biden Administration senior officials have met multiple times to discuss the directive, which will be presented to the president in the next few weeks, according to Bloomberg.

Read more: Is Biden Prepping an Executive Order on Crypto?




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James Rubin
James Rubin

James Rubin was CoinDesk's U.S. news editor based on the West Coast.

Follow @@JPRubin23 on Twitter

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