White House to Release Crypto-Related Executive Order

[mlawson71]

The US authorities are preparing to release an executive order about cryptocurrencies that will deal with major issues, such government-wide strategy, digital currencies opportunities, and cryptocurrency risks.

For now the details about the order are unclear, but according to latest reports, senior government officials are attending meetings to discuss the plan. President Joe Biden is expected to present a draft of said executive order in the next few weeks.

For the past few years federal agencies have been mulling over and drafting regulations of cryptocurrencies, but the executive order is meant to serve as a binding agent of all these regulations and is supposed to be the center of all cryptocurrency regulation.
Source
Unifying all the disparate regulation they have is probably a good thing, it will create more clarity for all market participants.

 

[sagar8392]

In India government has imposed 30% tax on cryptocurrencies. I think it's an end of crypto in India.

 

[pbrewman]

Apparently looks promising but do you think it will push the prices up?

 

[kjlfjkljk]

i think governments will remove taxes once crypto becomes a major market. for now it is easy to bully

 

[Someecat]

Great news! The order is likely to be welcomed by the cryptocurrency industry, as it will provide clarity on the government's position on digital currencies. However, it is also likely to be met with criticism from some quarters, as it could be seen as an attempt to regulate the industry.

 

[Sciagraphy]

The order will regard cryptocurrency as a national security risk. The White House is taking a firm stance on DeFi. Cryptocurrencies have gained significant acceptance across the financial world. Many regulators have been seeking ways to govern the assets in their different nations as a result of this.

 

[Nidology]

The order primarily establishes the government's overarching plan for striking a balance between consumer protection and maintaining the United States as a hub for innovation in the industry.