Biden Signs Executive Order on Cryptocurrency
Government to Examine Risks and Benefits
March 9th Order Outlines Plan for Responsible Development
WASHINGTON – President Joe Biden signed an executive order on Wednesday calling on the government to examine the risks and benefits of cryptocurrencies. The order directs the federal government to come up with a plan to regulate the cryptocurrency industry and protect consumers.
The order outlines a comprehensive approach to the development of digital assets, including studying the potential benefits and risks of cryptocurrencies and other digital assets, developing a U.S. central bank digital currency, and addressing the illicit finance and national security risks posed by the misuse of digital assets.
The order also calls for the government to work with international partners to develop a common approach to regulating cryptocurrencies.
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