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Everything you need to know about Biden’s new executive order on cryptocurrency


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President Joe Biden signed an executive order on Wednesday that could begin an era of much broader oversight over cryptocurrency in the US in the coming days, which could end up spelling significant changes for the dollar as well.

The order was unveiled Wednesday morning by Mr Biden and published on the White House website after being reported by Bloomberg News earlier in the week.

“The [executive order] will help position the U.S. to keep playing a leading role in the innovation and governance of the digital assets ecosystem at home and abroad, in a way that protects consumers, is consistent with our democratic values and advances U.S. global competitiveness,” National Security Adviser Jake Sullivan and economic council chair Brian Deese said in a joint statement.

Let’s take a look at what Mr Biden’s executive order will do:

A government-wide effort to study cryptocurrency and its effects

The main thrust of the order appears to be the direction of a number of federal agencies to develop responses to the cryptocurrency phenomenon. That simply means providing a report to the White…

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