- He will not only put the White House at the center of the digital asset sector, but also determine its policy for years to come
- It is expected that the document will be accepted in February
Biden Administration Prepares Massive Decree on Cryptocurrencies
It contains all the regulatory advice regarding the settlement of this market
On Friday, 21 January , Bloomberg, citing an unnamed source, reported that the White House is preparing a comprehensive decree on cryptocurrency. According to media reports, it will be adopted in February.
This document will define Washington’s digital asset policy for years to come. The decree is already under development. According to Bloomberg, it will be presented to Biden in the coming weeks.
The papers detail the problems and risks associated with this market. In addition, they highlight the need to implement a comprehensive regulatory framework to control crypto-currency transactions and reduce the liquidity of these assets.
The decree also contains a list of agencies that must “contribute” to the formation of a new base. Their task is to assess the risks and their own opportunities in this segment. The White House has not yet commented on the leak. This news came amid a significant drop in the value of major cryptocurrencies. We mentioned this in the Fed’s CB report.