The Biden administration will reportedly push an executive order, stimulating agencies to coordinate cryptocurrency rules in the country.
The President of the USA – Joe Biden – will reportedly introduce an executive order directing government agencies to study the specifics of the cryptocurrency industry. Keeping in mind that the leader has imposed numerous regulations since the start of his presidency reign, he is expected to urge for establishing rules in the digital asset space, too.
, his next one will be oriented towards cryptocurrencies, CBDCs, and their respective regulation in the US market. Biden’s executive order could look at measures to protect consumers, businesses, and investors. Specifically, the directive might call upon transparency and enhanced Know Your Customer rules.
Many wonder if the US lawmakers will introduce a specially designed cryptocurrency legislation, or they will treat the industry as traditional financial assets such as stocks or bonds.Biden’s predecessors, Donald Trump and Barack Obama, also issued executive orders on digital assets while being in power. In 2018, Trump signed a directive barring any US-based financial transactions involving Venezuela’s Petro cryptocurrency.
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