UPDATE: President Biden on Wednesday, March 9 signed the executive order (opens in new tab), which the White House outlined in a fact sheet (opens in new tab) issued before the signing.
The Biden administration is planning to issue an executive order this week that would compel federal agencies to come up with a unified plan to regulate cryptocurrencies, according to reports from Bloomberg News (opens in new tab), which broke the story, and The Wall Street Journal (opens in new tab).
The order would not immediately create new rules and regulations for cryptocurrency transactions. But it would spur the various agencies involved to figure out what such regulations might do, and report back to the White House within three to six months. Most regulations would then have to be created by Congress.
“This is the starting gun,” an unnamed source told Politico (opens in new tab).
Everyone’s…
UPDATE: President Biden on Wednesday, March 9 signed the executive order (opens in new tab), which the White House outlined in a fact sheet (opens in new tab) issued before the signing.
The Biden administration is planning to issue an executive order this week that would compel federal agencies to come up with a unified plan to regulate cryptocurrencies, according to reports from Bloomberg News (opens in new tab), which broke the story, and The Wall Street Journal (opens in new tab).
The order would not immediately create new rules and regulations for cryptocurrency transactions. But it would spur the various agencies involved to figure out what such regulations might do, and report back to the White House within three to six months. Most regulations would then have to be created by Congress.
“This is the starting gun,” an unnamed source told Politico (opens in new tab).
