Biden Planning to Sign Executive Order on Crypto This Week: Reports
The White House has been working on coordinating the efforts of different federal agencies since last year.
- The order would direct federal agencies to consider potential regulatory changes, in addition to the national security and economic implications of cryptocurrencies, according to Bloomberg.
- The White House has been under pressure to play a more central role in setting policies for and regulating digital assets. That pressure has only increased with the sanctions imposed against Russia for its invasion of Ukraine, and concerns that companies and individuals could use cryptocurrencies to circumvent them.
- The White House has been working on the order since last year, and in January reports surfaced that the order was coming soon.
- The order will require federal agencies to report later this year on their progress with respect to dealing with digital tokens, according to Bloomberg.
- CoinDesk has reached out to the White House to confirm the report but had not received an answer by press time.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.