Express
The White House Is Formulating An Executive Order Related To Crypto Regulation
Summary: According to Bloomberg News, people familiar with the matter said that the Biden administration is weighing an executive order on cryptocurrencies as part of promoting broader supervision of crypto assets. The proposed directive will require federal agencies to study crypto-related fields and make recommendations, involving the Ministry of Finance, the Ministry of Commerce, the National Science ...
According to Bloomberg News, people familiar with the matter said that the Biden administration is weighing an executive order on cryptocurrencies as part of promoting broader supervision of crypto assets.
The proposed directive will require federal agencies to study crypto-related fields and make recommendations, involving the Ministry of Finance, the Ministry of Commerce, the National Science Foundation, and the National Security Agency.
In addition to requiring institutions to study different aspects of the industry, the order will "clarify the responsibilities of different institutions in encryption and blockchain."
The person who asked not to be named said the plan is still under consideration.
The Biden administration has stepped up its work on crypto. Earlier this year, the OCC, FDIC and the Federal Reserve formed a "sprint team" to coordinate their work on crypto. The Federal Reserve will also release a report on stablecoins and CBDC.
By Mary Liu
Tags: Biden,Crypto,Regulation,Stablecoin
Link: The White House Is Formulating An Executive Order Related To Crypto Regulation [Copy]
