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BIDEN TO ORDER STUDY OF CRYPTOCURRENCY RISK, CREATION OF U.S. DIGITAL CURRENCY


FEDERAL AGENCIES TO EXPLORE FINANCIAL AND ENVIRONMENTAL CONCERNS AND INFORM
REGULATORY ACTION

THE BIDEN ADMINISTRATION WILL SCRUTINIZE HOW CRYPTOCURRENCIES MAY UNDERCUT U.S.
SANCTIONS AND EFFORTS TO FIGHT MONEY LAUNDERING.

Photo: Oliver contreras/pool/Shutterstock
By Andrew Duehren
Updated March 9, 2022 7:41 am ET

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WASHINGTON—President Biden will sign an executive order on Wednesday instructing
agencies across the federal government to study the possible risks presented by
the explosion in popularity of cryptocurrencies and consider the creation of a
U.S. digital currency.

The executive order will urge federal regulators to review the risks a roughly
$1.75 trillion crypto market presents to consumers, investors and the broader
economy. Federal agencies will have several months to prepare a report with
their findings, which will then inform any new regulatory actions the White
House takes, a senior administration official said.

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