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The problems with Biden’s crypto executive order take us back to 2008

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Last week, the White House released an executive order where President BidenJoe BidenUngar-Sargon: Working class hit hardest by inflation Nevada county to consider counting all ballots by hand Biden to announce B in Ukraine military aid: report MORE directed federal agencies to engage in a “whole of government” approach to assessing crypto’s risks, which run the gamut from national security to environmental to financial stability.   

Many of the order’s directives call for new reports and studies, while others simply recognize the work that regulators have already been doing. The Securities and Exchange Commission has, for example, overseen crypto assets under its jurisdiction for years, as has the Commodity Futures Trading Commission. The Federal Trade Commission has brought a handful of actions related to deceptive marketing in crypto schemes, and the Treasury Department has been policing crypto companies for money-laundering and trade sanction violations.  

We agree that regulating the crypto markets is a good thing. There’s no shortage of…

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