Biden Signs Crypto Executive Order

Today, President Biden signed an executive order around cryptocurrencies which caused the crypto market to jump today. The order is taking a positive stance on crypto, and calls for government agencies to examine the risks and benefits of cryptocurrencies. The government wants to promote innovation, while minimizing illicit activity. While no new laws are put in-place today, we expect this order to be a positive step toward regulation in the coming years.

The order focuses on six key areas:

Financial stability

Consumer and investor protection

Illicit activity

U.S. competitiveness on a global stage

Financial inclusion

Responsible innovation