Biden to sign executive order on crypto, authorize all-government effort to consolidate regulation
While many in the crypto community previously feared the worst regarding regulation, President Joe Biden on Wednesday signed an executive order on digital assets that had a relatively favorable approach to the crypto sector.
While the order didn’t explicitly outline the scale of regulatory measures that could be expected, the general sentiment from the U.S. federal government appeared to be constructive as opposed to stifling.
Per the order, the federal government’s regulatory oversight of the crypto sector will focus on six areas: consumer and investor protection; financial stability; financial inclusion; responsible innovation; the United States’ global financial leadership; and combating illicit financial activity. The order directs specific agencies to lead in designated policy and enforcement domains.