www.businessinsider.co.za Open in urlscan Pro
2606:4700::6812:890f  Public Scan

Form analysis
1 forms found in the DOM

./Search

<form class="search-form" action="./Search">
  <span class="input_container">
    <input class="searchfield" id="query" name="query" placeholder="Search Business Insider" required="required" type="text" value="">
  </span>
  <input type="submit" value="" data-track="search-header-click">
</form>

Text Content

 * Trending
 * Business
 * Money & Markets
 * Tech
 * Life
 * TRAVEL
 * Executive



Business Insider Edition
 * United States
 * United Kingdom
 * Deutschland & Österreich
 * France
 * India
 * Japan
 * Nederland
 * Polska
 * Australia
 * Spain
 * Mexico




Business Insider | Money and Markets


THE US COULD HAVE AN EXECUTIVE ORDER ON CRYPTOCURRENCIES AS EARLY AS FEBRUARY

Shalini Nagarajan , Business Insider US
 Jan 24, 2022, 05:34 PM
 * facebook
 * twitter
 * email

US President, Joe Biden.
Photo by MANDEL NGAN/AFP via Getty Images
 * The administration of US President Joe Biden will release an executive order
   for cryptocurrencies in February, Bloomberg reported.
 * US federal agencies are to be tasked with assessing the risks and
   opportunities that digital assets pose.
 * Senior administration officials will present the plan to Biden in the coming
   weeks, the report said.
 * For more stories, go to www.BusinessInsider.co.za.

The White House is putting together an executive order for cryptocurrencies that
could be released as early as February, Bloomberg reported Friday.

As part of the plan, Joe Biden's administration will task multiple US federal
agencies with evaluating risks and opportunities that digital assets pose,
Bloomberg said, citing unnamed sources. Their reports are due in the second half
of this year.



Senior administration officials have already had multiple talks on the plan,
which will be submitted to Biden in the coming weeks, according to the report.



Under current American laws, there is no comprehensive legal framework for
digital assets, or the regulation of cryptocurrency exchanges. The US Securities
and Exchange Commission has long called for more oversight of the crypto market.



On top of blockchain and digital assets already being difficult to understand
well enough to be taken seriously, skeptics have often pointed to the lack of
clarity in crypto-related policy as a reason to steer clear. Top executives in
the industry like Sam Bankman-Fried have called for more regulation, saying it
will clear the barriers to entry for many retail and institutional investors.

The Biden-led directive would place the White House at the centre of efforts to
set policies and regulate the market in the US, Bloomberg said. This development
follows a sell-off in crypto markets over the impact of tightening financial
conditions. Bitcoin broke below $36,000 and ether fell below $2,500, wiping out
$350 billion in value from the total crypto market over the weekend.

Federal agencies including the Financial Stability Oversight Council are tasked
with publishing reports on the systemic impacts and illicit uses of
cryptocurrencies. A similar report from the Federal Reserve recently detailed
the pros and cons of a central bank digital currency, or fully digitising the US
dollar.

The order requires agencies ranging from the US State Department to the
country's Commerce Department to be entrusted with roles aimed at ensuring the
US is a competitive player in the evolving field of digital assets, the report
said.

Further modifications could be made to the directive, as it hasn't been
finalised yet.




GET THE BEST OF OUR SITE EMAILED TO YOU EVERY WEEKDAY.


GO TO THE BUSINESS INSIDER FRONT PAGE FOR MORE STORIES.







TAGGED IN

crypto adoption mi exclusive white house crypto regulation ether
cryptocurrencies markets biden bitcoin regulation crypto

 * Indicators
 * JSE Indexes

Rand - Dollar
15.34
-1.6%
Rand - Pound
20.67
-0.9%
Rand - Euro
17.39
-1.4%
Gold/Oz
$1,834.90
0.3%
Brent Crude Oil
$87.89
0.6%
All Share
72,164
-3.6%

All JSE data is delayed by at least 15 minutes

JOHANNESBURG STOCK EXCHANGE INDEXES

All Share 72,164
-2670
-3.6%
Top 40 65,653
-2533
-3.7%
Financial 15 14,713
-363
-2.4%
Industrial 25 90,959
-3188
-3.4%
Resource 10 71,479
-3445
-4.6%


All JSE data is delayed by at least 15 minutes

DAILY BUSINESS INSIDER UPDATE

Get the best of our site delivered to your inbox every day.

Sign Up



View our Ts and Cs



Media24 Privacy Policy
Follow us on
 * Facebook
 * Twitter



Follow us on
 * Facebook
 * Twitter
 * Instagram
 * LinkedIn

*Copyright © 2022 Business Insider Inc.All rights reserved.Registration on or
use of this site constitutes acceptance of our terms & conditions.
| Privacy Policy | Advertise with us | Contact us |
International Editions:
 * US
 * UK
 * DE + AT
 * FR
 * IN
 * JP
 * NL
 * PL
 * AUS
 * ES
 * MX


PRIVACY PREFERENCE CENTER

When you visit any website, it may store or retrieve information on your
browser, mostly in the form of cookies. This information might be about you,
your preferences or your device and is mostly used to make the site work as you
expect it to. The information does not usually directly identify you, but it can
give you a more personalised web experience. Click on the different category
headings to find out more.
View our Cookie Policy
Allow All


COOKIE TYPES

STRICTLY NECESSARY COOKIES

Always Active

These cookies are necessary for the website to function and cannot be switched
off in our systems. They are usually only set in response to actions made by you
which amount to a request for services, such as setting your privacy
preferences, logging in or filling in forms. You can set your browser to block
or alert you about these cookies, but some parts of the site will not then work.
These cookies do not store any personally identifiable information.

Cookies Details‎

PERFORMANCE COOKIES

Always Active

These cookies allow us to count visits and traffic sources so we can measure and
improve the performance of our site. They help us to know which pages are the
most and least popular and see how visitors move around the site. All
information these cookies collect is aggregated and therefore anonymous.

Cookies Details‎

TARGETING COOKIES

Always Active

These cookies may be set through our site by our advertising partners. They may
be used by those companies to build a profile of your interests and show you
relevant adverts on other sites. They do not store directly personal
information, but are based on uniquely identifying your browser and internet
device.

Cookies Details‎


BACK BUTTON BACK



Vendor Search Search Icon
Filter Icon

Clear
checkbox label label
Apply Cancel
Consent Leg.Interest
checkbox label label
checkbox label label
checkbox label label


 * 33ACROSS
   
   HOST DESCRIPTION
   
   VIEW COOKIES
   
   
    * Name
      cookie name

OK


We use cookies to improve your site experience, perform analytics and show you
relevant advertising. By clicking “OK”, you agree to the storing of cookies on
your device. View our Privacy Portal, Cookie Policy & Cookie FAQs

OK