White House Allegedly Preparing Executive Order on Cryptocurrencies

White House Allegedly Preparing Executive Order on Cryptocurrencies

He also referred to the new developments as a “broader crypto crackdown” in a Jan. 28 tweet. Senior ETF analyst at Bloomberg Eric Balchunas noted earlier today that the Biden Administration viewing crypto as a national security threat may also be behind the constant rejections of Bitcoin (BTC) spot ETFs. Broader crackdown

Rumors of a potential executive order on crypto have been swirling in recent days. Earlier this week Forbes reported those government entities would likely issue reports on their findings by mid-2022  looking at “the systemic risks of cryptocurrencies and their illicit uses.” “This is designed to look holistically at digital assets and develop a set of policies that give coherency to what the government is trying to do in this space.”

The rationale for the executive order falling under national security is that crypto is a cross border tool for shifting money. The ability of decentralized blockchain technology to circumvent geo-specific surveillance or rules means the administration may push for synchronized international regulations with other countries. The source was quoted as saying:

Brito said that he believes the bill is likely to pass “in some form.” Related: President Biden taps economists for Fed governors’ seats, Sarah Bloom Raskin as vice chair for supervision — Jerry Brito (@jerrybrito) January 26, 2022

2/ The so-called “special measures” provision (proposed by @jahimes) would essentially give the Treasury Secretary unchecked and unilateral power to ban exchanges and other financial institutions from engaging in cryptocurrency transactions. How would it do this? pic.twitter.com/f3tVow9nxA Another piece of legislation worrying the crypto industry was proposed by House Democrats on Jan. 25, the America COMPETES Act. Jerry Brito, the Executive Director for Washington D.C.-based think tank Coin Center, noted that one provision in the proposed bill would allow the Treasury Secretary to ban crypto exchanges from operating without any prior notice.

The News Highlights

  • White House Allegedly Preparing Executive Order on Cryptocurrencies
  • Check the latest News news updates and information about business, finance and more.
Disclaimer: If you need to edit or update this news from compsmag then kindly contact us Learn more

For Latest News Follow us on Google News


Latest Headlines
  • Show all
  • Trending News
  • Popular By week
India records 1,675 new Covid cases;  death toll at 524,490
India records 1,675 new Covid cases; death toll at 524,490
The count of recovered coronavirus cases across India, meanwhile, reached 42,600,737 — or 98.75 per cent of total caseload — with 1,635 new cured cases being ...
The OECD chief predicts a 2024 deadline for a global digital tax deal
The OECD chief predicts a 2024 deadline for a global digital tax deal
It is the first of two pillars of the biggest overhaul of cross-border tax rules in a generation. Both pillars were originally intended to be implemented in ...
Grasim doubles investment for paint business to Rs 10,000 cr
Grasim doubles investment for paint business to Rs 10,000 cr
Soon after its board meeting today, the company announced that the market dynamics of the decorative paints sector has changed with new capacities being ...
It's time to focus on value-added exporting: Goyal, Piyush
It’s time to focus on value-added exporting: Goyal, Piyush
According to the minister, a record level of USD 250 billion of exports came without hospitality and some other key sectors and an extra focus on the ...
With a new software update, the OnePlus 10 Pro gets the May Android security patch, plus bug fixes
With a new software update, the OnePlus 10 Pro gets the May Android security patch, plus bug fixes
OnePlus 10 Pro gets May Android security patch and bug fixes with new software update. The OnePlus 10 Pro was launched globally in March. It’s powered by the ...
With the new features of Android Auto, Google Maps Alternative Get a huge update
With the new features of Android Auto, Google Maps Alternative Get a huge update
MapFactor Navigator also promises state-of-the-art navigation both on Android and Android Auto, and one of the things that set it aside from the rest of the ...
Sri Lankan PM says new budget will cut spending
Sri Lankan PM says new budget will cut spending
He expressed his hope that any violence would be contained and that monies would be made available to assist the country’s 22 million inhabitants. “Looking ...
JSW Energy will seek shareholder approval for a capital increase of up to Rs 5,000 crore
JSW Energy will seek shareholder approval for a capital increase of up to Rs 5,000 crore
It would also be utilized for joint ventures and affiliates, including investment in subsidiaries, joint ventures, and affiliates, for repayment of the debt, ...
Bell blames outages on an outdated phone network
Bell blames outages on an outdated phone network
CBC Manitoba and the Winnipeg Free Press recognize each other as trusted news sources. This content is made available to our readers as part of a CBC ...
Streets of Rage 4 is now available for Android and iOS with three new playable characters
Streets of Rage 4 is now available for Android and iOS with three new playable characters
Streets of Rage 4 comes with new gameplay features and characters With new battle mechanics, rediscover the classic beat’em up Streets of Rage franchise. The ...
Show next
We will be happy to hear your thoughts

Leave a reply

Compsmag - Latest News In Tech and Business
Logo