Biden Signs Executive Order, Calling for Government Oversight, of Cryptocurrency.<br />Biden Signs Executive Order, Calling for Government Oversight, of Cryptocurrency.<br />On March 9, President Joe Biden <br />signed an executive order that calls for <br />government oversight of cryptocurrency. .<br />On March 9, President Joe Biden <br />signed an executive order that calls for <br />government oversight of cryptocurrency. .<br />The Associated Press reports that <br />the order urged the Federal Reserve <br />to consider creating its own digital currency. .<br />According to a senior administration official, <br />Biden's administration sees crypto as an opportunity <br />to study the pros and cons of digital currency. .<br />The executive order also reportedly directed the Treasury Department to investigate the impact of crypto on national security and economic stability. .<br />Biden's top economic and national security advisers <br />pointed out that the executive order will establish <br />the first federal digital assets strategy in the U.S.<br />That will help position the U.S. to keep <br />playing a leading role in the innovation <br />and governance of the digital assets <br />ecosystem at home and abroad, <br />in a way that protects consumers, <br />is consistent with our democratic values <br />and advances U.S. global competitiveness, Brian Deese and Jake Sullivan, Biden Administration advisors, joint statement, via The Associated Press.<br />The AP points out that the order comes <br />amid concerns that Russia may be using <br />cryptocurrency to dodge international sanctions. .<br />The AP points out that the order comes <br />amid concerns that Russia may be using <br />cryptocurrency to dodge international sanctions. .<br />Last week, Treasury Secretary Janet Yellen <br />pointed out that the industry is not, “completely one where things can be evaded.”.<br />Yellen reportedly added that, “many participants in the cryptocurrency networks <br />are subjected to anti-money laundering sanctions.”.<br />Yellen reportedly added that, “many participants in the cryptocurrency networks <br />are subjected to anti-money laundering sanctions.”.<br />Meanwhile, Coinbase Global Inc., the United States' largest crypto exchange, said that the company was not aware <br />of a recent surge that would denote sanction evasion. .<br />Meanwhile, Coinbase Global Inc., the United States' largest crypto exchange, said that the company was not aware <br />of a recent surge that would denote sanction evasion.
