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.
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